3 Ways to Kickstart your Grant Research
Here’s the deal with grant research: if you’re a first-time grant seeker the good news is there’s funding out there for you! The bad news is it’s like finding a needle in a haystack. Whether you’re an artist or a charity, a first-timer grant seeker or looking to diversify your revenue, here’s all you need to know about grant research.
Think locally, not globally
National grants come with big numbers and flashy pictures, but chances are they also come with a LOT of competition. Even if you have a sterling reputation, an encyclopedia of proven results, and the world’s most aww-inducing testimonials, you’re still up against stiff competition when it comes to national grants.
Seek out local and regional grants first. The best place to start? Check out your state’s Community Foundation. These foundations often issue several grants each year, and are restricted to local programs. These foundations are invested in your success, and frequently have someone who can help answer questions or provide additional information about funding opportunities.
Get specific, really specific
Yes, we all dream about general funds that can be used on everything from staples to overhead to program expansion, but unless you are an established nonprofit with a squeaky clean record, the odds aren’t exactly in your favor.
If you’re a nonprofit start by searching grants that serve your population, narrow it down to grants that support a specific service (i.e. gardening, creative arts, SAT prep), you can narrow it down even further by finding grants that support an aspect of your program or services such as supplies, or leadership training. If you’re an artist or individual use the same tactics: look for grants in your region, narrow them down to your specific medium, and then look for grants that support where you are in your career (student? established professional?).
These grants are often smaller but have better odds. Once one foundation vies for your success, it is easier to get others on board.
Know and diversify grant sources
Depending on your organization, you may have more or less success with different types of grants. It is worth knowing which sources provide the best return so you can invest your time and energy wisely.
Generally, grants fall into the following categories:
Foundational Funds
Probably the most common source for grant funding, there are several types of foundations including faith-based foundations, family foundations, corporate foundations, financial foundations, and as mentioned above community foundations.
Business and Corporate Funds
Businesses provide support in a number of ways. It may be through in-kind contributions, matching grants, sponsorships, or corporate philanthropy programs among other ventures.
Federal Funds
Federal funds are an incredible source of funding, but as anyone will tell you the process is arduous. In addition to lengthy and detailed applications, many of these grants require a proven history of organizational success, a certain percentage of your annual budget on hand, and a requirement of at least 3 years of operation. For nonprofits with an established history looking to expand the capacity of one or more of their services, this is a great opportunity.
“The road to success and the road to failure are almost exactly the same.”
A successful awarded grant rate looks like a failure in many other industries. If you’re a first time, individual grant seeker and 25% win rate is incredible! So keep your chin up, rejection is par for the course. Keep in mind that you’ll fare a lot better when you research smarter.