A grant is a financial donation to support a person, program, or organization, In the world of fundraising; it is a much-welcomed gift of endowment usually bestowed by a foundation. The big question is where does one get such a generous subsidy?
Do your Research
Procuring a grant will take some investigation on your part. The best strategy is to narrow down a large list of foundations to those that best match the goals and mission of your organization. Apply to a select number rather than blitzing every foundation you can find. Selectively targeting the most suitable foundations will almost always yield a better response and increase your chances of finding a good match.
When researching foundation, look for the geographic area(s) in which they bestow grants, the kinds of grants they give, and the areas of interest of the foundation. Also, be sure to follow their guidelines so your proposal receives the serious consideration it deserves.
There are more than 40,000 foundations you can apply to for a grant –and there’s a lot of money to be awarded. In 2006 alone, foundations awarded more than $36.5 billion, up by more than 12 percent from the previous year, according to Giving USA, a publication of Giving USA Foundation. However, only a small percentage of foundations will even consider your proposal. In fact, one Michigan foundation reported rejecting as many as 80 percent of the applications it received.
How can you separate yourself from the pack? Do you homework. Foundations have guidelines and criteria. Some may serve only the greater San Francisco area whereas others fund only scientific research projects. Some may insist your nonprofit have at least a three year track record, and others will fund newly founded nonprofits. Narrowing down your list prevents you from wasting time and money sending grant proposals to foundations whose mission and goals are vastly different from yours.
The Internet and the library are two primary sources of information on foundations and grant possibilities. The Foundation Center, now more than fifty years old, has five main libraries and more than 340 cooperating collections throughout the United States, all of which can help your research foundations. The organization, considered the most highly recognized source of foundation information, also has a comprehensive website at www.foundationcenter.org. Other sources for grant research can be found in Appendix A.
What to Look For
First, consider geographic restrictions. Many foundations operate in areas close to home, so you are best off starting with foundations nearest to your home base; explore the ones in your community first. The Foundation Center and other online grant research websites are designed so you can easily search by geographic region. Be sure to visit your local library so you can learn about the foundations that are either not yet on the web or that maintain a low profile. The Guide to U.S. Foundations and the Foundation Directory are valuable sources for locating foundations.
Next, you need to consider the guidelines of the foundation. What are their areas of interest? If you read about a foundation that funds science and technology and you are looking for a grant to help maintain a children’s day –care program, don’t waste your time applying.
You should also take a moment to consider what the grantor looks for in an organization. Along with looking at the need for funding, they want to see that your organization is well known in the community and that it addresses an existing need. Sound fiscal management, a strong and involved board, committed volunteers, qualified staff, and a realistic budget are all very important considerations.
There are public and private foundations. A private foundation is an organization whose support is usually from one source—an individual, family, or business—and provides funding through grants to other nonprofit organizations. It is subject to more restrictive rules than a public foundation. Still, those seeking grants may find that private foundations provide a more personal, less formal grant application process, and a less bureaucratic approach to giving than public foundations. Public foundations receive one-third of their support from contributions from the general public. Because they are public, their materials are a matter of public record, including the accepted grant proposals, which anyone can examine—with the distinct advantage of seeing what kind of applications succeed.
Visit www.nozasearch.com for critical information regarding grants written by foundations in a particular tax year, as well as those grants that have been approved for future payments. In addition, you will find detailed information about grant application criteria, deadlines, and geographical relationships. You can also learn about recent foundation grants by contacting an organization requesting a copy of its annual report.
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