How strong is your grant strategy?

One of the top mistakes made by nonprofits is not having a solid grant strategy.  Applying for grants piecemeal throughout the year is not a strong strategy.  Instead, determine how much money is needed to fund your programs and build a grant calendar to address the need.  My rule is to apply for at least 3X the amount needed to fund the program.  Although it would be nice for every application you submit to be funded, the likelihood of that happening is very low.  Here are a few more tips to elevate your grant strategy:

Build key relationships

Find funders who align with your mission and connect with them before you apply for the grant.  An introductory phone call allows you to introduce your organization and program to the prospective funder before they receive your grant application.

Build a realistic budget

Work with the finance team to create a budget for your programs.  This budget needs to include all the expenses associated with the program and the percentage of staff member’s time to execute the budget.  When listing staff salaries, ensure they are competitive and aligned with the market rate.

Get everyone involved

Securing grant funding requires the input and work of the leadership team, board members, and even some volunteers.  You will need to work closely with the program and finance team to get pertinent information for the application.  Utilize your board and volunteers to make introductions to prospective funders and advocate for your organization.

Research the funder

Before applying for a grant, you can assess your chances of getting funded by asking these questions: Have they funded similar organizations or funded the same organizations every year?  That may indicate they have a low rate of funding new nonprofits. How much do you usually give? You want to go in with a funding request that shows your knowledge about their foundation.  For instance, do not ask for $100,000 when they only give up to 15K typically.

These steps will help you elevate your grant strategy, win more money, and increase your impact on the community you serve.