Cost Audit Tools

Knowledgebase
Publication date: 
January, 2012
Source(s): 
Donors Forum
Applying for and reporting on a grant can be a time-consuming process for nonprofits. Similarly, managing a grant funding cycle can be a major undertaking for a grantmaking organization. Both take staff time, technology, and resources.
 
Streamling the grant process for funders can help reduce costs and the burden on nonprofits. Likewise, nonprofits who effectively select which grants to apply for and manage based on their net impact to the organization can improve their efficiency. Until now, however, these decisions were difficult to make without a simple way to track and audit the time and resources required for funders and nonprofits in these processes.
 
In recognition of these challenges, Donors Forum in 2012 convened a Community of Practice focused on streamlining the grant process. Throughout their time together, Community members realized the lack of tools for nonprofits and funders to audit their costs associated with grant processes and developed two solutions: the Nonprofit Cost Audit Tool and the Funder Cost Audit Tool, linked below. They are designed to be downloaded and used freely and frequently. Nonprofits who are interested in understanding the net grant amount they receive after completing grant requirements and using that information to make informed decisions about their resources will find this tool helpful. Similarly, funders can use the tool to understand the cost of completing a grantmaking cycle. 
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