Minnesota Council of Nonprofits’ Post

FYI if you apply for any Federal grants: Federal Grantmaking Reforms  On April 4, the federal Office of Management and Budget (OMB) released its major rewrite of the Uniform Guidance, the set of common rules governing most federal grantmaking to charitable nonprofits, state, local, territorial, and Tribal governments.   The newly released rewrite, which becomes effective on Oct. 1, 2024, addresses longstanding problems in covering nonprofits’ actual costs, advances equity by making grants accessible to more organizations and communities, and makes other significant reforms that will reduce bureaucratic barriers and burdens and costs of seeking, performing, and reporting on grants involving federal funds. Key Improvements  Single Audit threshold increases to $1 million The De Minimis (automatic) indirect cost rate increases to 15% Streamlines grant applications and reporting Up-Front Payments: The Final Rule states in 200.305(b): “The recipient or subrecipient must be paid in advance,” provided specific financial and written procedures are met. The section goes on to state that “reimbursement is preferred when the requirements in paragraph (b) cannot be met.” This means governments can be urged to make advanced payments to nonprofits and not assume that reimbursable grants are the only option.”   For more information, visit OMB Uniform Guidance Final Rule and the White House news release.  Join a free webinar, OMB Uniform Guidance: What the Updates Mean for Nonprofits, on Thursday, May 30 at 3:30 – 4:30 pm Eastern to make sure charitable nonprofits know about the significant improvements, and what the changes mean for their missions. Register here:   https://lnkd.in/gAtD-RX5

Exciting news for nonprofits! The latest uniform guidance could unlock more funding opportunities for your organization. Stay ahead of the curve with these federal grant updates. #nonprofitaccounting

Exciting news for nonprofits! The latest uniform guidance could unlock more funding opportunities for your organization. Stay ahead of the curve with these federal grant updates. #nonprofitaccounting

Exciting news for nonprofits! The latest uniform guidance could unlock more funding opportunities for your organization. Stay ahead of the curve with these federal grant updates. #nonprofitaccounting

Exciting news for nonprofits! The latest uniform guidance could unlock more funding opportunities for your organization. Stay ahead of the curve with these federal grant updates. #nonprofitaccounting

Not managing restricted grants properly can result in poor donor experience, impacting current and future funding. Thirty percent of nonprofits fail to exist after 10 years, with a lack of funding from donors cited as the primary reason. So what makes managing these restricted grants so complex?

Nonprofit advocacy is on the verge of delivering significant relief from unrealistic reimbursement rates and costly administrative burdens. Bipartisan legislation (Streamlining Federal Grants Act) would put nonprofits in the center of reform efforts. Plus, pending regulations from the Office of Management and Budget could guarantee higher payments to nonprofits for indirect costs (overhead), provide nonprofits the ability to appeal adverse actions by governmental agencies, and simplify notices of funding opportunities. Federal grants reform has been an advocacy priority for MCN, working on behalf of our nonprofit members. Why this legislation matters with National Council of Nonprofits: https://lnkd.in/g4PJZxft

Big new changes surrounding federal grants could mean big benefits for your #nonprofit! See how new Uniform Guidance updates might give you more flexibility and capacity to focus on your mission. #nonprofitaccounting

Big new changes surrounding federal grants could mean big benefits for your #nonprofit! See how new Uniform Guidance updates might give you more flexibility and capacity to focus on your mission. #nonprofitaccounting

Big new changes surrounding federal grants could mean big benefits for your #nonprofit! See how new Uniform Guidance updates might give you more flexibility and capacity to focus on your mission. #nonprofitaccounting