
Foundations Show Signs of Moving Beyond ‘Overhead Myth’
Many of the efforts to craft new financing approaches are young and have not yet produced dramatic change.
Many of the efforts to craft new financing approaches are young and have not yet produced dramatic change.
Historic grants reforms published by the federal government in late 2014 are now the law of the land. The reforms apply to federal grant funds that flow to states, counties, cities and nonprofits throughout the U.S.
But, a larger issue looms.
Rather than focusing on what Congress will (or won’t) do in the new year, foundations and other nonprofits would do well to take a close look at a little-noticed overhaul of federal grant-making rules—in the works for three years and that took...
The OMB Uniform Guidance, the new rules for nonprofits that...
Indirect costs of nonprofits are now required to be reimbursed. This new rule on costs reimbursement of nonprofits is a major victory for people who rely on nonprofits and for those who lead them.
The guidelines are long and complex, but highlights include:
It’s also hoped the acknowledgment by OMB will get the attention of corporations and foundations whose grants funding still operates under the 7-10 percent indirect costs principle.
The Office of Management and Budget said it considered higher rates, but that it picked a “conservative” amount “to protect the federal government from excessive over reimbursement.”