You’re excited. You’re a 501c3, you’ve got a great mission and now you’re ready to get some of those grant dollars you’ve heard so much about! Where do you begin? The good news is – it’s true, there are a lot of opportunities to find funders who want to invest in your cause. The bad news is, you may be a ways off from getting their attention. It’s especially difficult for brand new organizations to receive grant funding without 2-3 years of success under their belts to show they’re worth the investment. Hang tight and arm yourself with our list to get you and your team on the path to grant funding success. This article will give you an insider’s track guide to everything you’ll need to gather and have on-hand to begin applying for grants.
1. BALANCE YOUR BUDGET
Many major funders admit, the first thing they do when they read a grant application is go straight to the budget.
9 times out of 10, a grant application will require a copy of your organization’s annual budget.
On the budget, funders are looking to see that you’re fiscally solvent, fiscally responsible, and competent. How does a budget show them these things?
2. COVER YOUR BASES
99.9999% of grant funders will require that you are 501c3 tax exempt organization. Here’s a list of the all the items the vast majority of grants require.
Many grant funders will also ask for a deeper dive of information that includes:
3. KNOCK 'EM DEAD
Alright, you’ve covered all your bases and now you’re ready to actually fill out the application. What kind of information will you need to fill out the application?
The vast majority of grant application and letters of inquiry will ask for these four elements for the program or project you’re requesting funding for:
Many times, you’ll also be asked to include one or more (or all!) of the following:
4. GET IT RIGHT
Finally, there are a number of random little red flags that may pop up around your application. Because grants are hugely competitive to win, a red flag might throw your whole application off. If you can get yourself grant-ready starting NOW, you won’t have to worry about that when you’re all set to apply.
Blackbird Philanthropy Advisors is a social enterprise devoted to Driving impactful and innovative change through philanthropy. Based in South Bend, Indiana, USA.