Cover Story: ARRA Stimulus Package Grants

This is an opportune time to submit a proposal to a government agency. The chances of you receiving funding may never be better than now. President Obama's ARRA (American Recovery and Reinvestment Act of 2009) was passed by Congress and signed in to law on February 17, 2009. Now federal, state and local agencies are being tasked to allocate the funding resources.

The American Recovery and Reinvestment Act identifies very specific areas for funding, which will are outlined on the agency web sites. Job creation and contribution to economic recovery are critical components for determining if a program is appropriate for funding. The intent of the bill is to get the funds working in the economy as quickly as possible therefore in many cases ARRA funds are to be obligated by September 30, 2010. Some agencies have limited extensions on flowing down the spending deadline requirements.

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Cover Story: Use Of Board Of Directors In Fund Raising

The basic purpose of a board of directors is to run the organization effectively. To do so, board members should to ensure that an organization is operating within state and federal laws, adopting programs and procedures most conducive to carrying out its mission and earning its money honestly and spending it responsibly. Among the responsibilities that board members must assume in carrying out the board's purpose is a responsibility for funding the organization. Specifically, the board is responsible for the continued funding and financial health of the organization.

There are two very common problems that occur when creating a Board of Directors for a new corporation. Too many start-up companies use relatives and close friends to serve on the board. The reason is that it is convenient and everyone will likely go along with whatever you want to do. However, this board composition will diminish operational oversight and fundraising capacity. One of the biggest problems with a close knit board is that the circle of contacts and influence remains relatively the same. Having a diverse group of board members will actually improve and increase fund raising activities.

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