January 01, 2017
Finding funding opportunities that are a good fit for your organization involves a few steps. Before you begin your search for potential funders, you first need to take an inventory of your project's needs and resources.
Your inventory should include:
The current financial picture for your project/organization: Knowing how much money you need to support your project/programs will help you to plan your grant strategy. If you need $100,000, you might target 4-6 mid-size foundations that offer grants in the $40-50K range. If you need $500K or more, you might prioritize applying to government grants over private foundations.
Detailed descriptions of the projects/services you want to launch or maintain: If you are the project director, you'll know the project details, making this easy. If you are a freelance writer hired to write grants for a nonprofit, the work will be more demanding but worth the time. Knowing a project's details will help you identify the keywords you should use in your research to find relevant funders. Examples of keywords include the project's geographic location (country, region, state, city); the target population (women, veterans, etc.); and the focus area (homelessness, disease prevention, mental health treatment, etc.). If you are new to the organization and its work, you may also want to compile a list of its terminology. These terms will also be useful as keywords when searching for funding opportunities.
Who can work on the proposal: With very few exceptions, writing a grant proposal requires the efforts of multiple people. If a grant application is very simple—short, with limited details and a basic budget—one person might be able to complete it on their own. If you are the head of a project/organization and know the project details intimately, you can probably write the proposal narrative on your own. From your experience, you'll know the who, what, and where. If you have been hired as a consultant to write a grant proposal, you can put the proposal pieces together, but you'll need help with the content. To get details on the project's history, who runs it, and how it operates (or will operate, if it is a new initiative), you will need to interview staff or have them complete written questionnaires. You will also want to establish who can (and who must, depending on the expertise required) assist with the proposal writing. Once you know who you need to work with, request copies of their schedules. Having their schedules on hand can help you evaluate opportunities. Ensure the people you need to consult are available while you work on the proposal.
Who can work on the project: Before you start looking for opportunities, you will want to know who can work on the project if the proposal is awarded. The people working on the proposal may not be the same people who will work on the project. You should prepare two lists: one with the names of everyone who can help with the proposal, and a second with those who can or will be working on the project. If you have a list of project staff and their expertise, you can consult it as you review potential funding opportunities to determine whether there is a good match.
When you want to find grant funds for a project, it is hard not to jump right to the research step. However, if you jump in without completing the preliminary work, it will be difficult to determine whether an opportunity is a good fit and whether you can apply with the resources and expertise you have.
If you know the project well and have a history with the organization, you may be able to assemble everything you need in a few days.
If you are new to the organization, plan ahead and allow yourself a couple of weeks to gather materials, familiarize yourself with the project, and assemble the proposal team.