3.3 Identifying Funding Opportunities
A strategic approach is required to effectively research and identify funding opportunities. An organization may spend a significant amount of time identifying the best grants and funding sources, but this can be a great investment to support a program. Matching the grant with the project in the early planning stage will save time in the end.
As you begin your research, create a simple outline or spreadsheet like the one below to help with tracking your work. Sometimes grant writers have to wait until the following year to submit. Keeping everything in the spreadsheet allows the grant team to drill down and find what is needed throughout each year, thus improving grant-writing efforts.
| What is the purpose (i.e., research, education, nonprofit work) of the funding? | |
|---|---|
| How much funding is needed? Is it a small grant project, or does it need large-scale funding? | |
| What are the criteria for eligibility? What kind of grant fits? | |
| What are the compliance and reporting requirements? Does our organization have the capacity to meet these requirements? |
In the search to find a perfect grant competition, continue to ask questions to narrow down funding opportunities. A great place to start is with grant databases and directories like the ones listed in Chapter 2. Often, there are government grants that are available for large-scale funding. Depending on the funding needed, there are social media sites to explore along with community and private grants.
Sometimes your organization is not eligible to receive grant funding. It does not mean that you need to stop. Instead, try to collaborate with a partner who is eligible. Collaborating on projects with partner entities strengthens any grant proposal. When a nonprofit isn’t the right entity to receive funds, working with an eligible entity will allow you to write the grant and complete the work together.
Finally, once you find a grant that matches your needs, consider looking at the past recipients and what their businesses do. Keep in mind things like matching fund requirements, eligibility, and project alignment with the funder’s goals and mission statement. Using strategies like these will be helpful in organizing ideas and maintaining a focus for the grant proposal, ensuring alignment between the goals of the organization and the funder.
