Earlier this week, I had a difficult conversation with one of my clients. It is nearly September, and I still do not have their 2023 audited financial statements or 990.
This is problematic.
In the grant world, most grants require these documents along with the proposal. Up until around June, I can get away with letting grant funders know that our 2023 financials are still with our CPA, but after June, grant funders expect updated financials.
After three emails to my client requesting an update, I had to escalate the conversation.
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After June, we actually missed out on a few grant opportunities because the proposal required a financial audit from the previous year.
I emailed my client, explaining that we missed out on three opportunities so far. I also told her that my other clients had these documents delivered to me by June, so this was a reasonable request for her to make to her CPA.
She loves and trusts her current CPA, so I know this was tough to hear, but this is business. She forwarded my email requesting the audit to be completed earlier next year.
The response was favorable, so I am hopeful. This is a case of “the squeaky wheel gets the grease.” I don’t believe that my client or the CPA felt this internal audit was urgent because the IRS wasn’t demanding it, and they didn’t realize that grants require it.
Sometimes all it takes is one difficult conversation to get the ball rolling and open up the door to more opportunity.
Until next time,
Write Epic Grants
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