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Get the Money You Need

Get the Money You Need

You know the drill: It’s midnight and your grant proposal is due tomorrow. Your assistant left hours ago and the words on your screen have started to blur. “It’s not worth it,” you think. And besides, only a few grants pan out anyway, right? Not necessarily.

Grants are a big part of the not-for-profit world. And yet, according to Dennis P. McIlnay’s book, How Foundations Work, less than 10% of grant proposals are ever funded. That’s probably why grant writing is often viewed as a lottery with little hope of success.

But it doesn’t have to be that way. Here are a few pointers to make the grant-writing process a little easier:

Know your organization.

In your proposal, prove your nonprofit has a significant need and then come up with a solution to ease that need. The more information you have at hand, the easier it is to answer questions on a grant proposal. Ask relevant staff members questions about your organization’s programs, and use their answers to help write the proposals. If staffers have trouble providing answers, your nonprofit may need to brainstorm as a group.

Set up a system

The requirements of grant applications are generally repetitive and predictable. Invest some time coordinating and preparing administrative material. You’ll likely find that with an efficient system, it’s just as easy to apply for 10 or 20 grants as it is to apply for one or two. And the more organized you are, the easier it becomes to tailor each proposal to a specific grant. Before getting started, contact individual grant makers for their exact application specifications, Requests for Proposals (RFPs) and guidelines.

Build relationships

Experienced grant writers send a steady stream of information to funders to show that their organizations are responsible and effective partners. Relationships can be cultivated in a variety of other ways, from personal meetings to invitations to events sponsored by the local Chamber of Commerce. These contacts give funders a way to develop a positive impression of your organization and to see that you will use their funds responsibly.

Work steadily. Don’t wait until you’re desperate. Steady, year-round grant seeking enables you to gain control over the process. It also gives you the opportunity to carefully select who you’ll approach as a potential funder and how much you’ll request. When you start from a position of power, you come across as a more secure investment.

Learn your craft

Like most skills, grant writing takes time to learn and can be frustrating at first. But keep doing research and writing proposals. Good writing skills are important. The more you do, the better you become at crafting a good proposal.

So what’s the pay-off for this time investment? You can look forward to an effective grant-seeking system that speeds and enhances your organization’s future work.

Please contact Holly Caporale via our online contact form for more information.

Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.

Contact Holly W. Caporale, CPAView Profile

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