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  • rachaelaporter

The Power of Grants & Company Financial Health

The Creative Ideas Fund changed my life. How, you may ask? By showing me the power of grants. Before joining in January of 2022, I thought grants were something that were rarely funded, or that an organization needed a dedicated grant writer on staff to complete the process. I believed they were only for non-profits and that for-profit companies were not eligible. But being a part of this council opened my eyes to the overwhelming need for grants within the IDD industry.

While I knew grants were needed, I truly had no idea what grant funds could cover. Discovering grant world over the past year, I have found that both non-profit and for-profit organizations in the industry may use grant funding to pay for basic operational needs like staff training, office supplies, or program activities. This newfound information has truly been mind-boggling for me, but I believe it’s an incredibly viable way to cover these overhead expenses or even launch a new program. Because real talk, who has the available funds to initiate a new program or project in this industry?

But the world of grants can be overwhelming. With so many categories, requirements, and deadlines, many agencies don’t know where to start. Perhaps you believe you may not qualify for grants. Finding answers to these questions begins with a company audit. A deep dive into your systems can recognize potential issues and identify opportunities. Systems and processes matter; the more efficient they are, the more effective they’ll be. For example, if payroll isn’t being covered by your billing, then we need to look at your overhead costs. The valuable perspective gained during an audit can help take the pulse of your company’s financial health. Understanding your company’s health can shed light on what is working, or issues that may need to be fixed. Taking the time to conduct a proper audit can save money and help your bottom line. And while you don’t want to rely on grants to make ends meet, an approved grant can be the cherry on top once your finances are in a good place. All companies run differently, so there is no standard solution for every client, but I strongly believe that a simple audit can help maximize and minimize costs.

Without question, grants matter and they can be a game changer to your organization if you receive one. Just keep in mind that your company's financial health matters as well and it can be the difference between surviving or thriving.

If you are looking to explore grants or company audits, let’s chat!

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