OMB increases indirect cost reimbursements for nonprofits

OMB increases indirect cost reimbursements for nonprofits

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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. Conversations and policy changes about these issues are already happening in leading-edge philanthropic organizations.

To benefit fully from the new guidelines, nonprofits advocate the National Council of Nonprofits recommends nonprofits up their game in several areas.

First, they must be able to accurately identify and track their real overhead costs. Second, they’ll need to develop the skills for negotiating higher reimbursement rates with government organizations. Third, since no additional monies were added to available government contracts and grants funding with the new guidelines, nonprofits must “become more adept at advocacy on appropriation and tax matters.”

Source Name: 
Savannah Morning News
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