Yes, it is super exciting to receive a grant. The first thing you do is make a copy and deposit the check into the bank before reading the contract.
But, to avoid the pain of missing a deadline and putting you in violation of the contract, you must take the time to read the fine print. You will most likely be required to submit additional documents such as board meeting schedules, meeting minutes, audit reports, certificates of insurance, and more.
1. Use your grant management software to set alerts to you and key team members.
2. If you don't, set up a redundant reminder system through your calendar.
3. Then track requirements monthly through a spreadsheet.
The more successful you are in getting grants, the more tracking and monitoring you have to do. Your Funders pay attention and will include your grant management track record when reviewing your next grant request.