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Grant Management 101: A Guide to Managing Corporate Grants

A grant management team sits together on a couch and smiles while clapping.

At a glance, grantmaking and grant management can seem overwhelming. There are lots of details to consider, from designing a program to overseeing its implementation and following up on its impact. If you’re considering grantmaking as part of your approach to corporate citizenship, you’re in luck: with grantmaking software like Groundswell, you can give grants with ease, no matter the size of your organization. Let’s unpack the basics of grant management for businesses to explore how it can support your goals and social impact initiatives. 

Table of Contents:

What is Grant Management?

Before we dive into the “how” of grant management, let’s first establish the “what.”

A grant consists of funds awarded to an applicant for a specific project or purpose. Grants aren’t meant to be repaid, but they are meant to be tracked. That means they typically come with requirements for reporting on their impact and use. 

The definition of grant management, however, can vary. From the perspective of grantmakers – that is, the parties who award funds and distribute grants – grant management is all about overseeing a grant throughout its lifecycle. This understanding of grants management is different from what a nonprofit organization or grantee might consider, but it’s just as important. 

In the world of corporate grantmaking, the work begins with program setup. With a grant program conceptualized, grantmaking teams can then shift their attention to application design, intake, and review. Next comes the decision-making and awarding process, where funds are disbursed to their recipients. From here on, grantmakers focus on post-award assessment and impact. 

What is the role of a grant manager?

A grant manager, also known as a grant administrator or award manager, is the person responsible for ensuring that grants are awarded and implemented effectively. In other words, they’re in charge of the corporate grant management process, from creating applications to keeping up with grantees after they receive awards. 

Not all organizations have a dedicated grant manager or grant management team. Especially with the help of a purpose-built software solution, existing teams can manage grants as part of a larger corporate social responsibility (CSR) approach.

Understanding the Lifecycle of a Grant

We know that grant management involves overseeing a grant throughout its lifecycle. But what does that lifecycle look like, exactly?

A flowchart representing the three stages of the corporate grant lifecycle.

We can break the lifetime of a grant into three distinct stages:

  1. Pre-award
  2. Award
  3. Post-award

A successful grant management program will have a plan and system in place to manage all three. Let’s take a closer look at what goes on in each stage of grantmaking. 

Pre-Award Phase

This phase kicks off with the basic design of a grant program. It involves everything that happens before a grant recipient is chosen. 

That includes program planning, goal-setting, and development. During this stage, management teams should develop guidelines for the program and determine how they’ll implement it. 

Another key part of the pre-award phase is the creation and distribution of grant applications. Grant managers then collect applications and conduct a review process to determine who will make it to the next phase. 

Award Phase

The award phase is typically the shortest and most straightforward. This is when the grantmaker awards a grant to its recipient. Grantmakers also work with awardees to create a final agreement on how the award will be used and how its impact will be reported.

Typically, this is also when grantors notify all applicants of their decision. This is another place where technology can be helpful – a grant management system that allows you to decline applications in bulk actions can be a huge timesaver. 

Once all parties agree on the award and how it will be used, funds get disbursed to the grantee. An effective grants management platform should help you distribute funds (without additional fees) and track awarded funds so you can ensure your programs stay on budget as they scale. 

Post-Award Phase

After a grant agreement is signed and funds are disbursed, the grantor and recipient continue working together. Their goal now is to ensure that any expectations outlined in the grant agreement are being met. 

The post-award phase also focuses on reporting and oversight. Grantmakers can provide support and oversee fund usage while collecting progress reports. This is a great opportunity to forge meaningful partnerships with nonprofit organizations, make new connections, and learn what you can do to improve future grant programs. 

The Value of Grantmaking for Businesses

Grantmaking is one of many types of activities that can fall under the umbrella of economic corporate social responsibility. In other words, by participating in a grant program, businesses can give back and ensure that their impact on the community is a positive one.

The benefits of creating a grants management system affect everyone. They impact employees, business leaders, community members, nonprofits, and those they serve. 

Plus, hosting a grantmaking program is a simple but effective way to improve your reputation. Consumers are more likely to trust companies that they know have benefitted themselves and their communities. They’re also more likely to see those businesses in a positive light, which supports better brand recognition and loyalty. 

So, leveraging corporate grantmaking makes sense from a business and ethical standpoint. You don’t need to give millions to make an impact – all you need is a well-designed program. 

Corporate Grant Management Best Practices

No matter how big or small the awards you give may be, the best way to maximize the impact of your grants is by planning carefully and strategically. Here are a few key best practices to keep in mind as a business investing in grantmaking:

  • Establish crystal clear program guidelines. Develop solid and detailed guidelines that bring your ideal grant program to life. Bring all members of your team together to visualize your goals and ensure that they’re realistic and actionable. 
  • Build equity into your grant program. From application design to award reporting, think about what you can do to build equity into your grantmaking system. Consider how to foster a diverse applicant pool, for example, or think about how you can eliminate bias from the award selection process.
  • Create a calendar. Creating a dedicated calendar to track crucial milestones, goals, and benchmarks for your grant program can be helpful. A calendar makes it easy to create a realistic timeline that all team members understand. 
  • Invest in the right technology. As a grantmaker, you’ll need to establish the types of data you want from your grantees so that you can effectively track and share your award’s impact. It’s wise to implement grant management software so that you have easy access to a configurable tool that helps automate data collection, analytics, and reporting. Look for a grant management platform with intuitive user interfaces and at-a-glance dashboards that make accessing information on your programs hassle-free.
  • Design your grant program around your values. Engage your employees and strengthen your image by choosing to build programs around your organizational values. Passionate about supporting families? Consider offering awards to nonprofits that share this goal. Focused on sustainable business practices? Give back to other organizations that are working to protect our planet. 

What to Look For in a Grant Management System

Choosing the right grant management system can make the difference between a good grantmaking program and a great one. The right technology transforms complex processes into seamless, impactful giving experiences.

  • Intuitive User Experience. Seek a platform with a clean, user-friendly interface that allows your team to navigate grant processes efficiently. The system should reduce administrative burden, not create more complexity. Systems that encompass your existing giving system (employee giving, matching, volunteering, etc.) can help simplify admin and reporting.
  • Robust Reporting & Analytics. Choose a grant management system that offers comprehensive, customizable reporting tools. Look for platforms that can track key metrics, generate impact reports, and provide real-time insights into your social impact and grantmaking activities.
  • Flexible Workflow Automation. The ideal system should offer configurable workflows that can adapt to your organization's unique grantmaking process. Automated features like application routing, review tracking, and notification systems can significantly streamline your operations. It's also important to research the cost of being flexible. Will you get charged for adding additional admins to your review process? Can you customize the workflows on your own or do you need customer support's help?
  • Comprehensive Security & Compliance. Prioritize platforms with strong data security measures. Look for systems that are SOC 2 compliant, offer secure data encryption, and provide robust access controls to protect sensitive information.
  • Scalability and Integration Capabilities. Select a grant management system that can grow with your organization. The platform should easily accommodate increasing grant volumes and integrate seamlessly with your existing corporate systems and software ecosystems. Simplify your CSR administration and reporting by looking for a platform that can handle all your existing and future social impact programs.

Groundswell Makes Corporate Giving Simple

At its core, grant management is a fairly straightforward process. As programs succeed and expand, though, things can sometimes get a little muddy. 

Convoluted technology or complex systems can create bottlenecks that slow the grantmaking process down. Plus, without the means to collect reporting insights and data in a timely fashion, it’s easy to create awards that go over budget or fail to deliver the impact they aim to achieve. 

No matter the size of your business, you need grants management software that makes it easy to oversee the grant lifecycle. Groundswell gives your company the same tools and functionality of a corporate grantmaking platform without the administrative burden or high price tag.

When you choose Groundswell as your grant management platform, you can take advantage of benefits like:

  • Access to an intuitive mobile app that allows you to plan and edit grant programs.
  • A stress-free and seamless workflow: just choose your recipients, grant amount, and any extra notes to kick off your program.
  • Hands-off funds disbursement; no more cutting checks! Groundswell handles the disbursement of funds to nonprofits for you.
  • Zero distribution fees on grants; that means 100% of the funds you give are sent to deserving nonprofits. 
  • Faster disbursement times that allow your funds to reach designated nonprofits within just a few days.
  • Data security to protect your information. Groundswell is SOC 2 compliant and exceeds the compliance standards of Global Fortune 500 clients.

See why Groundswell earned the G2 badge for Easiest to Use and Most Implementable yourself by booking a demo with our team today.

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