Are you considering grants as a way to fund your program or new initiative at your nonprofit?
Before you start grant writing, ask yourself these two questions:
1. Have you established solid foundation?
Grant Makers like to see you have covered your bases in the following ways:
IRS 501c3 approval
Charitable solicitation registration and approval
Established board of directors
Board approved organizational budget projecting expenses and income
Financial reports (ex. profit & loss statement, balance sheet, 990)
Human resources (volunteers, staff, contractors)
2. Do you have any accomplishments?
Grant Makers like to see:
Real stories of life impact
Solutions to a community problem
Collaboration with other nonprofits
If you are a startup organization, start tracking your outcomes early!
Are these bases covered?
If so, you might be ready to take the next step. Just remember, applying for grants is hard work. It takes dedication, perseverance and skill. Find a qualified writer who has experience writing grants or invest in grant writing training. While grants can make a tremendous difference and have many advantages, it’s important to remember they are not the sole solution.
The best approach to funding your nonprofit is developing a diversified funding plan with multiple streams of revenue. This is one of the many deliverables we help you create in our Fundraising Academy.