The field of philanthropy has evolved. As foundations assess how their values shape their grantmaking practices, strengthening relationships with grantee partners has become a priority. A force behind this movement is trust-based philanthropy.
Trust-based philanthropy strives to restore balance in power and decision-making, which ultimately strengthens the relationship between funders and grantees through transparency and mutual understanding. This collaboration and comprehension of grantee needs allows foundations to provide grantees with support that goes “beyond the check” which can bolster capacity and organizational health.
With 30 years of experience in providing financial management services to nonprofits, Your Part-Time Controller, LLC (YPTC) is uniquely positioned to assist foundations in providing non-monetary support to their grantees. YPTC
1. Educates on Financial Management Best Practices
Nonprofit grantee leaders often juggle multiple roles but maintain one common thread- unwavering dedication to the organization’s mission. However, a background in financial management is not a universal skill. YPTC provides education crucial to their success. This base of knowledge helps grantees understand their oversight responsibilities, to mitigate risks through proper segregation of duties, and to use financial statements to run the organization.
2. Strengthens Financial Management
In addition to providing education, foundations can offer support to their grantee partners by conducting assessments of the grantee’s finance department. YPTC conducts these assessments and provides actionable recommendations to enhance the accounting department of the grantee. There are times when grantees need additional capacity in their accounting departments on an interim or long-term basis. YPTC works with foundations to customize financial management services at the right level of support for those grantees.
3. Assists with Measuring Impact
Measuring the impact of their support is increasingly important to foundations. While impact measurements are highly dependent on information provided by grantees, nonprofit partners can lack the capacity or proper systems to accomplish this. YPTC’s data visualization group connects data from various systems and presents it in a visually appealing format. This enhances foundation’s data and gives grantees a tool that can be used to aid in fundraising. Read more here.
Partnering with YPTC to support foundation grantees maximizes the impact of generous funding and ensures grantees’ financial management success.
To learn more about what YPTC can do for foundations, visit our Foundations Specialization page.
