A Grant readiness checklist of what a business or nonprofit must have before applying
1. Organizational Structure
2. Financial Management
- Prepare recent income statement reflecting revenues and expenses.
- Create a balance sheet showing assets, liabilities, and equity.
- Develop cash flow statement detailing cash inflows and outflows.
- Ensure all statements are accurate and formatted correctly.
- Have statements reviewed by a financial professional if possible.
- Draft an annual budget outlining expected income and expenses.
- Include projected revenue sources and anticipated costs.
- Review past financial data to inform projections.
- Adjust budget for seasonal fluctuations or economic conditions.
- Update projections regularly based on actual performance.
- Select an accounting software suitable for your organization.
- Set up categories for different types of revenue and expenses.
- Train staff on how to use the system effectively.
- Ensure regular reconciliation of accounts to ensure accuracy.
- Implement internal controls to safeguard financial resources.
- Prepare recent income statement reflecting revenues and expenses.
- Create a balance sheet showing assets, liabilities, and equity.
- Develop cash flow statement detailing cash inflows and outflows.
- Ensure all statements are accurate and formatted correctly.
- Have statements reviewed by a financial professional if possible.
- Draft an annual budget outlining expected income and expenses.
- Include projected revenue sources and anticipated costs.
- Review past financial data to inform projections.
- Adjust budget for seasonal fluctuations or economic conditions.
- Update projections regularly based on actual performance.
- Select an accounting software suitable for your organization.
- Set up categories for different types of revenue and expenses.
- Train staff on how to use the system effectively.
- Ensure regular reconciliation of accounts to ensure accuracy.
- Implement internal controls to safeguard financial resources.
Use in Manifestly