1 / 24

Technology Tools for Grantmaking Due Diligence

Technology Tools for Grantmaking Due Diligence. Henry Bromelkamp, President Bromelkamp Company www.bromelkamp.com publisher of Pearl Grants Management software, used by 130 grant makers worldwide. Conference Board 7 Dec 2004.

radwan
Download Presentation

Technology Tools for Grantmaking Due Diligence

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Technology Tools for Grantmaking Due Diligence Henry Bromelkamp, President Bromelkamp Company www.bromelkamp.com publisher of Pearl Grants Management software, used by 130 grant makers worldwide. Conference Board 7 Dec 2004

  2. Technology Tools for Grantmaking Due DiligenceWhat is Due Diligence? Research to satisfy • Legal Requirements • Programmatic Needs • Quality Standards Conference Board 7 Dec 2004

  3. Technology Tools for Grantmaking Due DiligenceLegal Requirements • confirmation of exempt status • compliance with anti-terrorism rules • good stewardship Conference Board 7 Dec 2004

  4. Technology Tools for Grantmaking Due DiligenceProgrammatic Needs • identity verification • program plans • geographic/community impact Conference Board 7 Dec 2004

  5. Technology Tools for Grantmaking Due DiligenceQuality Standards • organization mission • history of success and failures • charities registration (some states) • leadership (board, staff) Conference Board 7 Dec 2004

  6. Technology Tools for Grantmaking Due DiligenceWhen? customary practice: • comprehensive check on first request • confirm legal requirements before each payment Conference Board 7 Dec 2004

  7. Technology Tools for Grantmaking Due DiligenceIdentity Verification ChoicePoint and many other services (e.g. WestLaw, Lexis, Verisign) Conference Board 7 Dec 2004

  8. Technology Tools for Grantmaking Due DiligenceIRS.gov check exempt status Conference Board 7 Dec 2004

  9. Technology Tools for Grantmaking Due DiligenceGuidestar.org check exempt status Conference Board 7 Dec 2004

  10. Technology Tools for Grantmaking Due DiligenceGuidestar.org check antiterrorism lists for US organizations Conference Board 7 Dec 2004

  11. Technology Tools for Grantmaking Due DiligenceGuidestar.org background information Conference Board 7 Dec 2004

  12. Technology Tools for Grantmaking Due DiligenceGuidestar.org strengths: • comprehensive, very up-to-date • strong searching and analysis tools limitations: • does not include most churches • does not include non-US organizations • does not check aliases or common names (you need to know the EIN number or search by name or location) • 990’s come slowly from the IRS Conference Board 7 Dec 2004

  13. Technology Tools for Grantmaking Due DiligenceGuidestar.org grants management software integration - Gifts (from MicroEdge) jumps to Guidestar.org and logs in - Pearl (from Bromelkamp Company) jumps to Guidestar.org and logs in captures applicant name and address Conference Board 7 Dec 2004

  14. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists • Attus www.attustech.com • ChoicePoint (bought Bridger Systems) www.bridger.comused by “80% of banks and over 3700 other organizations” • Language Analysis Systems www.las-inc.com • Penley www.penleyinc.com • and other companies (Google “OFAC Compliance”) Conference Board 7 Dec 2004

  15. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists check individuals free online bridger.com NameCheck “not a complete compliance solution” Conference Board 7 Dec 2004

  16. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists Bank of England Bureau of Industry and Security (Export/Import sanctioned entities) Canadian Consolidated List (OSFI) DTC Debarred Parties European Union Terrorism List FBI Hijack Suspects FBI Most Wanted FBI Most Wanted Terrorists FBI Seeking Information FBI Top Ten Most Wanted Interpol Most Wanted Non-Cooperative Countries and Territories OFAC Blocked Countries OFAC SDN list Politically Exposed Persons Unauthorized Banks United Nations Consolidated List World Bank Debarred Parties • Bridger Insight (software) • costs $750-$1000+ • licensed by volume, not number of users • process batches, not “real time” • misspellings/omissions diminish accuracy • use from multiple locations (Windows/online) • individuals and orgs US/non-US • can include identity verification Conference Board 7 Dec 2004

  17. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists Bridger Insight Conference Board 7 Dec 2004

  18. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists grants management integration • software (Gifts, Pearl) exports a data file to list checking software • “real time” integration (to eliminate the export) offered by Bridger, but not yet by grants software Conference Board 7 Dec 2004

  19. Technology Tools for Grantmaking Due DiligenceAntiterrorism Lists: Catch-22s • some organizations have several names • transliteration: names from other alphabets (Chinese, Russian, Arabic) can be correctly spelled several ways • you can’t check names unless you collect names – board? staff? volunteers? Conference Board 7 Dec 2004

  20. Technology Tools for Grantmaking Due DiligenceOutside Data Sources • geographic information systems (GIS) and mapping • Census Bureau • Post Office National Change of Address (NCOA) Conference Board 7 Dec 2004

  21. Technology Tools for Grantmaking Due DiligenceDocument Your Work When: Conference Board 7 Dec 2004

  22. Technology Tools for Grantmaking Due DiligenceDocument Your Work What: Conference Board 7 Dec 2004

  23. Technology Tools for Grantmaking Due DiligenceOutsourcing Some grant makers hire third parties to verify and research grantees • small grant makers (e.g. community foundation) • international grants (e.g. Give2Asia) • matching gifts (e.g. JK Group) Conference Board 7 Dec 2004

  24. Technology Tools for Grantmaking Due DiligenceConclusions Thank you. Henry Bromelkamp, President Bromelkamp Company, 106 E 24 St, Minneapolis MN 55404 612-870-9087 henry@bromelkamp.comhttp://www.bromelkamp.com • assess your need/risk • use technology tools to manage risk • collect enough data to make the technology tools effective (review organizations only? individuals too?) • document your results • interpret results to indicate further consideration and research Conference Board 7 Dec 2004

More Related