A funding program is typically formed when an organisation has funds to spend on something that will have a positive outcome for individuals or groups. A funding program could support a political promise, improve community infrastructure, help disaster response, etc.
A funding program typically has a clear objective, measures of success, and is fundamentally about demonstrating a fair and equitable process in the distribution of money.
Examples of funding programs could include:
- Revitalize public spaces
- Reduce carbon emissions
- Improve youth programming
- Higher education initiatives
Funding programs are created by funding bodies – organisations that have monies available. A typical funding body receives funds through government grants, or could be a non-profit or charity that collects funds for specific projects.
A funding program is made available to organisations who apply for funds via a funding opportunity. There are two ways for a funding body to invite funding opportunity applications:
- Open: The funding opportunity is accessed by the public, via a SurePact-generated URL. Organisations and recipients can self-register (for free) or log in if they have a SurePact account.
- Closed: The funding opportunity can be accessed only by invited organisations and recipients. These recipients must already be added to your account by an admin user.
The Funding Programs module is where you can track the entire lifecycle of all funding programs your organisation creates.
There are several phases in the funding program lifecycle:
- Funding program definition: Name, details, team, dates
- Application Round setup: Selection of application and review criteria templates, publishing to the public or inviting applications
- Review & Approve: One or more rounds of application review, resulting in approvals / rejections
- Recipient Allocation and Funding Agreement: Determining allocations granted to applicants, finalized by agreements signed by both parties
- Deliverables & Disbursements: Accounting of project completion and funds paid
- Evaluation and Archive: Upon funding program completion, evalation of progress and archiving for future reference
Ready to get started? Read about the Funding Programs summary and how to create a new funding program.