To enter into a New Fiscal Relationship ("NFR") 10-Year Grant agreement, an Indigenous Not-for-Profit Organization ("NPO") must meet the eligibility criteria co-developed by Indigenous Services Canada, the Assembly of First Nations and the FMB. There are eligibility criteria to be met in the areas of:
- Policy on Financial Administration
- Financial Performance
The FMB will provide reports to Indigenous Services Canada confirming that the Indigenous NPO has met the NPO Policy on Financial Administration and Financial Performance eligibility criteria for the NFR 10-Year Grant. Indigenous Services Canada makes all final decisions on grant eligibility and whether to offer a grant.
NPO Policy on Financial Administration
In order to be eligible for the NFR 10-Year Grant, an Indigenous NPO must have a policy on financial administration that meets the grant eligibility on financial administration policies and that brings into force certain minimum provisions. More information on the minimum provisions can be found in Indigenous Services Canada's sample Comprehensive Funding Agreement model.
Following signing of the grant agreement, Indigenous NPOs will be asked to demonstrate that these minimum provisions have been brought to life. Read more about implementation review.
Sample NPO Policy on Financial Administration:
- FMB will support your Indigenous NPO through the policy development.
- A sample NPO Policy on Financial Administration for the NFR 10-Year Grant is available for Indigenous NPOs to adopt.
- NPO Policy on Financial Administration only comes into effect if the Indigenous NPO enters into NFR 10-Year Grant agreement with Indigenous Services Canada.
- FMB's sample NPO Policy on Financial Administration is intended to be a guiding policy for Indigenous NPO's governing body to complement their existing policies and build out a sound financial management system.
- FMB's sample NPO Policy on Financial Administration is not intended to replace or supersede Indigenous NPO's existing policies and procedures.
- Download a copy of the Sample NPO Policy on Financial Administration here.
Financial Performance Review
In order to be eligible for the NFR 10-Year Grant, an Indigenous NPO must demonstrate that it meets five selected Financial Performance Ratios.
The Indigenous NPO will need to send the FMB its most recent 5 years of audited financial statements. FMB staff will review the financial statements and use them to calculate the Financial Performance Ratios.
How the FMB supports Indigenous NPO during the NFR 10-Year Grant journey
- Provide advice and support, as well as access to FMB-developed tools, during the NFR 10-Year Grant funding application process
- Support the development of NPO Policy on Financial Administration
- Confirm that the NPO Policy on Financial Administration meets the grant eligibility criteria
- Analyze the financial performance of Indigenous NPOs and confirm whether grant eligibility criteria is met
- Prepare and issue compliance opinion reports on grant eligibility to Indigenous Services Canada
- All FMB services are provided at no cost to Indigenous NPOs
Get in touch with the FMB
If you have any questions or need support with meeting the NFR 10-Year Grant eligibility criteria, please contact us at 1-877-925-6665 or send a message below.