Tracking grants that span multiple years can be done a couple of different ways, depending on how and when you want the grant award amount(s) to be recognized in your reports. To illustrate the various options, let's assume you were awarded a grant for $30,000 over the period of 3 years on December 1st of 2016.
Option 1: If you want the entire $30K awarded to show up in your reports as awarded in Dec of 2016, you would use one opportunity, and set the amount awarded to $30K, and the decision date to Dec 1, 2016, and set up additional tasks under that opportunity for any reports that are due each year, or other tasks that you want to make sure you track and complete. This could be a good option if you are safe to plan on the entire $30K over the 3 years, regardless of program results after year 1 and year 2.
Option 2: If the entire $30K is not guaranteed, or if you want to show 10K of this grant awarded each year, it is better to split up the 30K opportunity into 3 separate opportunities of $10K each. You can set a different decision dates for each of them to make the 2nd $10K show up in Dec 2017, and the 3rd show up on Dec 2018. If the amounts are already committed, you can mark them as Opportunity Status = 'Awarded'. However - if they are dependent on other factors, you may want to set the Opportunity Status = 'Submitted', and change them to Awarded or Denied once the yearly decisions have been made. It is still recommended that you set up individual tasks to keep track of any grant reports or other activities that should be tracked during each year of the grant.
Limitation: at this time - GrantHub does not have a field on our Opportunity records to track when or how much of the grant awarded has been received. We also do not have pre-built reports to help track grant funds received. Many of our customers track this type of information in their accounting systems, and do not expect to track funds received in GrantHub. Let us know if you need this type of functionality in GrantHub by sending us a customer suggestion (either through a 'chat' communication, or via email to firstname.lastname@example.org). Here is a potential work-around if you are looking to show that $30K has been awarded on Dec 1, 2016 and you want to track that the funds have been received on various dates over the next 3 years: use either Option 1 or 2 above, and then use the 'Award Notes' field found on the Opportunity to write notes about when these payments are expected and when they have actually been received. If you need to report on this information, you can use the 'Export to CSV or Excel' capability found underneath the graphic portion of our reports, or directly on the list of Opportunities.
Please contact us if you have any questions or need help with this.
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