Since 2016, a small group of the nation's largest foundations have had the courage to face a key underlying cause of chronic underfunding: project-restricted grants that do not cover nonprofits' true costs. Based on the group's findings in collaboration with the financial firms BDO and FMA, the funders are re-writing the playbook on funding indirect costs. And they want this to be the start of a sector-wide movement. Hear what the pilot program's "verification partners" learned about indirect cost rate verification with individual grantees, and what guidelines are on the horizon for standard indirect cost rate calculation and possible verification by independent CPA firms.
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