First and foremost understand the strategy, mission and expectations of the potential funder. Is your organization a good fit for them? Have they funded organizations or programs similar to yours? Does the funder have a local focus or do they look for national programs?
If you think the funder is a good fit for your organization, will they think your organization is a good fit for them? Here are some pointers to help the potential funder view you as a good fit.
Tell your organization’s origin story in a compelling manner. Why was the organization founded, who were the founders, and how did the organization begin. Share the Founders’ stories. The potential funders need to know why your mission is important to the local community and how the founders’ passion has carried through to the current day. Give them a strong and engaging backstory.
If you’ve been able to set the origin story properly then you need to demonstrate that your organization is grant-ready. It’s important that the organization’s federal and state tax exempt or corporate registrations are current, that your tax filings are up-to-date, and that the organization’s financial statements have, at a minimum, been compiled and reviewed by an accountant. Funders will want to understand who runs the organization and programs, their skill set and experience, and how long they have been with the organization. Program budgets not only need to be reasonable and understandable but can demonstrate collaboration or partnering with other organizations to achieve the program objectives. The broader the organizations’ reach to impact the community with their services, the more the funders will see a return on their investment in your organization’s program. Since funders need to maximize the impact of their grants, they favor funding organizations that understand how to expand their community impact by working with other organizations.
First strong origin story, second grant readiness and third why now and this particular program. Be clear in your statement of need the specific issue your organization is addressing and the data or metrics that support the importance of the need and your approach to meeting that need. If your program is a test case to prove a viable program approach, explain how you will assess the effectiveness of the solution. Funders need to understand why the funding is needed now and can’t be deferred for a year or two. There is fierce competition for funds and your program needs to stand out. Remember that the organization is not begging for funds but rather making a compelling case for why the program is a smart investment in people and the community and that the organization is poised to be successful in its execution.
The final tip is to make your application personal. Contact the funder (phone is better than email) to introduce your organization and that you’ll be submitting a grant application. Help the funder connect your written request with a name and person. Follow up if you’re not funded and understand how to improve your application. Connections are important so make sure you have asked your stakeholders if they have contacts at the funders and ask them to help make introductions.
Ana also shared some tips on how to research foundations and identify the ones that might be a good fit for your organization. Public libraries have a free database, CANDID, that aids in the research of foundations.
When in need, reach out for advice on how to design your grant strategy.
