What is a Grant?

💡 Tip: A grant is a type of SurePact record.

Grants are one way to secure additional funding for your project.

Grants are typically distributed to individuals, small businesses, local government entities, and non-profits to support projects that achieve specific outcomes. These outcomes usually align with local, state, or national priorities.

How Do Grants Work?

Receiving a grant often involves a complex application process. SurePact’s Grants module helps simplify this by enabling you to track and manage the entire grant lifecycle.

The Grants module is where you can monitor every stage of your grant applications, ensuring you stay on top of key requirements and deadlines.

Grant Application Lifecycle

There are three main phases in the grant application lifecycle: 

1. Pre-Award

This phase covers the initial setup, risk management, and approvals needed before submitting a grant application.

1. Grant Setup: The Grant Manager completes foundational questions to create and define the grant.
2. Risk Profile & Approval: The Grant Manager sets up the risk profile, and the Grant Risk Approver reviews and approves it.
3. Eligibility & Approval: The Grant Manager requests eligibility approval, which is reviewed and approved by the Grant Eligibility Approver.
4. Grant Tasks: The Grant Manager creates and assigns application tasks to team members.
5. Application Approval: The Grant Manager approves the grant application for submission to the funding body.
   
   💡 Tip: Make sure that all approvals are completed before moving to the next phase. Missing approvals can delay the entire grant process.

2. Submission and Award

This phase focuses on the formal submission of the grant application and awaiting the result.

1. Submission: The grant application is formally submitted to the funding body.
2. Submission Result: The funding body provides a decision on the grant (approval or rejection).
3. Risk Post-Review: The Grant Manager updates the risk profile to reflect the outcome of the application.
   
   🙋🏻‍♀️ Reminder: If your grant is rejected, make sure to review the feedback in the Governance Log, and update the risk profile accordingly to prepare for future applications.

3. Post-Award

This phase involves managing the awarded grant and fulfilling all reporting requirements.

1. Reporting: If the grant is awarded, the Grant Manager allocates tasks to team members, which include activities, milestones, and internal deliveries.
2. Closeout: The grant is marked as complete, and all final documentation is uploaded.
3. Grant Archived: The grant is archived in SurePact for future reference.
   
   💡 Tip: Regularly update the reporting and documentation to ensure compliance with the grant's conditions. Archiving the grant at the end of the lifecycle helps maintain an audit trail.

Ready to get started? Learn about the Grants summary and how to create a new grant.