Foundation work can be difficult to measure but implementing grant management software is one of the key ways to help organizations demonstrate their successes through this software. An article from consulting firm Wise Philanthropy outlines some of the misconceptions about foundation work. Many people who are seeking employment at a foundation may not understand what they’re getting themselves into.
In his article “Do You Want to Work in a Foundation,” Richard Marker highlighted a few of the top considerations for those thinking about a job in a foundation. One of them is being prepared to say “no” far more often than you say “yes” to funding opportunities. Another point is that it’s difficult to measure success. When a foundation funds a project that ends up being successful, the credit really goes to the nonprofit, as it should. Finally, Marker wrote that foundations often have no way to measure whether they are doing a good job.
“If you get your satisfaction by meeting or exceeding objective measures, you aren’t likely to find the work of grantmaking to be as gratifying,” Marker said.
However, with the advent of more cost-effective grant management platforms, these points no longer have to be true. While foundations will always turn away more proposals than they choose to grant, they are able to better quantify their successes. Although philanthropic organizations may define and measure success differently than nonprofits, they can still use guidelines to help them determine whether they are doing a good job.
With business intelligence platforms, foundation members can quickly determine how many funded projects turned out well, and how many funds were delivered over the course of the year.
Improving communication through software
Another way a foundation’s success can be measured is by how well it works with other nonprofit organizations, and how efficiently it communicates with them to help them make the most of their proposals. Grant management software is also beneficial in this area. Using online applications in a cloud-based software package, applicants are better able to communicate with foundation staff to ensure that all aspects of their proposal have been completed. Once the funds have been delivered, a grant management platform like CommunityForce’s can enable foundations and guarantees to remain in contact.
Help your organization manage the end-to-end application life-cycle
Our program management feature gives you oversight on opportunities, allows you to create new applications, and is equipped with a search and filter functionality. Preparing for a cycle roll-over is also made possible by this smart and intuitive software solution.