Step Four: When you have the money
So you've been successful and got the money that you wanted to run the project or activity. But what now?
Of course the main thing will be to run the project that you have worked so hard to find the money for. But it is not the only thing. It is essential to "keep the funder happy" - and more particularly to keep them involved.
There are things that you can do during the project they have funded to show them how valuable there support has been. It does not need to be time consuming or expensive but can help build a relationship with the funder that will make it easier to secure money from them or from others in the future
Show the funder what you have done
Tell the media
Some funders are very keen to get acknowledgement in the press of the contribution they have made to your activities. Sending a press release to local media about the fact that you have received the funding is useful but you will probably need the release to focus on what you will do with the money rather than simply that you have the money. It is a good idea to send a draft of the press release to the funder and ask them if they are happy with what you are saying and even to get a quote from the funder about why they are happy to support your project.
You can try to make sure that you keep the media informed regularly if it is a long project, and invite a representative of the funders to attend any activities where the press may take photographs.
Monitor progress and keep the funder informed
You should have included information about how to monitor the project in your application so now you have to do what you said you would. Monitoring is not just for the sake of doing it though. You can report progress to the funder regularly or at key moments in the project. In particular you should let them know when things are not going the way you planned and how you will make changes to get back on track. Funders expect some projects not to work the way the bidders suggested - and rather than trying to find ways of covering this up, funders would rather that you told them and explained what you will do about it.
It is also important to be punctual in submitting ant required reports to the funders and to send them in a format that they may have stipulated. Funders will want the key information - not an essay!
You should also be aware that you may be required to make arrangements to monitor outcomes for some time after the funding is spent and the "project" completed. Outcomes are not always realised during the project.
Identify opportunities to show the funder what you have done
If you can invite a representative from the funders to key activities in your project. They may well not say yes but getting them to see what you are doing and the impact you are making first hand can help you build a relationship with the funder. If they are unable to attend it is still worth sending them some photos and a brief report about how the activity went.
Keep records of what you have done
This is not just about monitoring. It is more to do with making sure you have records of what you have used the money for; pictures of events or of building works over time, copies of posters or leaflets that you have produced, press clippings if you get some publicity for what you are doing. This can be very useful in putting together an end of project report if it is needed and even if it isn't.
A key part of the "End of Project Report" will be the exit strategy. You should have thought about this when planning your application and will have suggested what you are hoping will happen at the end of the project. Reporting on this will be a key element of the end of project report.
Thank them
Most of all send a letter of thanks when they agree to fund the project and one to thank them again at the end. Personal letters can be a real tonic for the hard pressed grants officer who may rarely see the fruits of their efforts in helping you to undertake your projects and activities.
