Capital Venture: Secrets for Success

Does your organization rely on grant funding to meet its annual budget? Have you lost a major grant? Do you lack the free time to research potential funders? Here are a few tips on finding grant opportunities and successfully competing for grant funding.

Don't use the shotgun approach, meaning that your philosophy is to send out as many grant proposals as possible to a wide range of potential funders. Instead take the time to carefully research potential funders and find the right match for your project or program.
Research starts with a foundation directory or online program to search for potential funders by geography, type of agency funded, type of funding available (capital, endowment, program, etc). Some good sources include The Foundation Center Directory (or CD), the Big Online Database, and Grant Station. There are fees for these services but having them available online in your office may save valuable time otherwise used to research in a public library or regional Foundation Center. Grant Station is our preferred tool because it includes foundation, corporate and government funding opportunities.
Research needs to be more thorough than just funding a possible match through one of these sources. Call the potential funders to sure that the information you have on file is current, and determine if they are interested in receiving a proposal or letter of intent to apply for funding before you proceed with the grant proposal.
Be sure to follow the guidelines you've obtained from your research and or conversations with the funders.
Remember that grant proposals involve more than just writing well. Building relationships with funders is the most important step in the process.
Be sure to proofread your grant proposals before submitting them; have someone check for grammar and spelling--relying on spell check is not enough.
Have someone from outside your organization read the proposal to make sure it is free of jargon and able to be understood by a funder who may not be totally familiar with your organization's programs.
Most funders do not want a lot of superfluous materials; follow the guidelines about what attachments to include or not include.
Remember to accurately report results of successful grants to the funder and provide good stewardship of the funds received.
Do not become overly dependent on grant funding because priorities of funders can be very fickle. You should have an integrated development program that includes a variety of funding streams, not just grants.

If you need help with researching, proposal writing, or learning more about how to expand your funding streams, call the experts at CAPITAL VENTURE SM.