How to streamline collaboration between multiple funders on joint initiatives

Together, everyone achieves more. This idea is the bedrock of collaborative grantmaking. When multiple funders pool their resources, expertise and influence to power joint initiatives, they can make a greater impact than they could individually.

But with each funder being a separate entity, real challenges with the potential to break the partnership can arise. A mismatch of timelines, varying application and reporting requirements, power imbalances, decision-making complexities and differing communication methods can impede the collaboration.

Curious about how to facilitate funder connection and alignment on collaborative grants? Here are practical steps to guarantee efficient partnership on joint initiatives.

1. Coordinate timelines

Funders have varying grant cycles; when they collaborate on a program, the different timelines are bound to conflict and create inefficiency. Grantees may focus on keeping track of multiple funder calendars and submitting multiple applications, reports and updates, which can create misaligned paces that stall initiatives until all funders give their approval.

This can lead to administrative fatigue and a distraction from the mission among grantees. It can weaken momentum and breed tension among funders.

Synchronise funder timelines to make collaborating a breeze. Begin by mapping each funder’s grant cycle at the start of the initiative to identify differences. Then, create a shared calendar with non-negotiable anchor dates for major events such as application launch and decision announcement.

To accommodate lags and facilitate flexibility, consider setting compatible deadlines for other activities and milestones in between.

2. Maintain communication

Prioritising effective communication is essential for funder alignment and building trust.

Centralise communication using a dedicated platform; this could be grant management software or a collaboration tool. Such platforms ensure all discussions are in one place. If there are other channels to disseminate information, like emails, ensure all parties are aware.

A regular rhythm of engagement, such as monthly or quarterly check-ins with funders, is vital. This kind of continuity can reduce scheduling chaos and maintain funder engagement. Immediately after meetings and check-ins, circulate summaries to re-emphasise the decisions made.

Ensure each meeting has a detailed agenda and update all on what will be discussed for adequate preparation and actions required.

It’s important to provide real-time updates on fund disbursements and other grant-related actions.

3. Establish a governance framework

Collaborative grantmaking thrives on structure. Without agreed-upon binding rules, the joint initiative may become inefficient and prone to conflict.

A governance framework clarifies roles, preventing gaps in responsibility and duplicate efforts. It ensures there’s a clear method for making collective decisions and handling disagreements.

A watertight governance framework should contain the following elements:

• A statement of purpose and guiding values of the initiative
• Responsibilities and accountability metrics
• Decision-making processes
• Power-balancing mechanisms
• Rules for resource contribution and disbursement
• Dispute resolution procedures and risk-sharing mechanisms
• Exit strategies and continuity plans

Creating a detailed governance framework will build the foundation for funders to operate as one and achieve greater collective impact.

4. Standardise reporting practices

Reporting is crucial to grantmaking, particularly when funders collaborate. Standardised reporting practices check this box and eliminate the need for disparate reporting.

To build a uniform reporting framework, funders should co-design a single reporting template and define core requirements and common performance indicators. Uniformity doesn’t imply extreme rigidity; it’s necessary to allow flexibility for grantees to share stories and unique contexts.

It’s helpful to use a centralised digital grant reporting platform where grantees can upload reports once and funders can access them instantly. (More on this in a bit.)

Standard reporting practices ensure collective visibility into the initiative’s impact. They simplify grant reporting for grantees, saving them from having to prepare multiple reports in different formats for different funders.

5. Implement technology

Technology enhances every other effort to streamline collaborative grantmaking. The right software makes it easy for multiple funders to operate as a team.

With Good Grants, for example, funders can easily receive communication updates and ask for feedback directly within the platform. Decisions and deadlines are set and made visible to all funders as they work from the platform.

Other features include functionalities that streamline collaboration on joint initiatives, like document sharing, security, progress tracking and seamless viewing of grantee reports.

These practices will facilitate collaboration among different funders working together on initiatives. And, Good Grants doesn’t only support funder collaboration—learn more about how it lets applicants collaborate!