Funding is a challenging issue for all charities and community groups. Many emergency funding sources have been announced in response to the Coronavirus (COVID-19) pandemic. But, before you leap in, what might you need to consider?
NCVS asked Mick McGrath, Chair of East Midlands Funding Forum (EMFF) how to be resourceful at this time. What conversations can you be having with funders and grantmakers so they understand your work? What other support is available?
Mick shared this statement with us:
Do you need extra funding at this time? Or is it more about using the funding, grants and donations differently from what you had planned? If it is more about changing and adapting your project and work whilst using the same resources then contact your funders and talk to them about making these changes rather than seeking additional funds.
There have been several articles about this, how funders are looking to be flexible with their current grantholders, with a large number signing up to the Standing with the Sector commitments. These commitments aim to respond to the needs of groups and organisations, so if you are looking to change activities make contact and discuss with your funders where you can. Businesses can consider the additional support that is available from the Government. If you need to reduce activities will you need to furlough staff? As with all of these schemes, check your organisation's eligibility.
If you do need extra funding at this time to increase your capacity and support, take your time in reviewing programme guidance notes, make sure that you meet both the eligibility criteria and the priorities of any funding programme. Given the demand on the different Coronavirus Emergency funds so far, there are going to be some tough choices made by funders, and it's likely that they are only going to be able to support those that meet their priorities well. Always check that the funding programme is still open before starting any application, as a number of the Coronavirus Emergency funds have already closed or paused due to being over-subscribed.
Think about support which is available beyond that of funders, some of which could help with your financial planning (or re-planning) or resourcing. Infrastructure organisations, both in your local patch (like NCVS) and nationally, are responding and providing advice and updates. There are also specialist organisations with freely accessible tools and guidance like Community Accounting Plus.
These are unprecedented times and funders and investors are here to support and help the sector where they can. So when you need to and where you can, pick up the phone or email them and give them an update on your work.
Contributed by Mick McGrath – Chair, East Midlands Funding Forum
East Midlands Funding Forum (EMFF) is a network with aims to improve the practice of funding and investment through sharing information, knowledge and good practice. Follow @EMFundingForum on Twitter.
