Locating Perspective Donors for Your Nonprofit
Today, more than ever, organizations are seeking donors that aspire to supplement the diminishing income that they once received from parishioners and philanthropists. While this strategy is risky, if successful, it does create an opportunity to diversify their current income-base and enhance their programmatic activities. However, organizations must keep a few things in mind when developing smart custom writing.
Foundations and government entities that accept request for proposal most likely do so with the intent to fund a program that benefits the broader community. For example, do you currently operate a food pantry, literacy program, or senior day services? If you do not, creating a community outreach program may be an excellent way of serving your community. Having programs like these will also make your organization more successful when submitting a grant proposal to a funding source.
Now that you’ve selected an outreach program, you can begin researching donors that will possibly fund your program.
Make use of your resources and search a variety of different locations in an effort to find potential funders. The internet, church members, and community contacts are excellent places to start compiling a list of funders interested in providing support to programs like yours. Make sure that the funding sources mission or area of interest matches with your organization’s mission statement. Foundations and government entities will state the types of projects that they want to fund and some may even provide examples of projects that they’ve funded in the past. Compare your program to the information that they provide; if your organization’s mission matches their mission, they may have strong potential as a possible funder.
After creating a list of potential donor programs, you now need to follow their request for proposal instructions.
Each funding organization has a different method of preferred contact. Many request a letter of inquiry after submitting a letter of inquiry the organization will request a full proposal if you match their criteria. Other organizations ask that the full proposal is the first method of contact. After initial contact with the funding organization, continue following their procedures as they indicate. If your organization does not match with the funding organization’s mission continue to research other funders. Remember as always grant funding is a numbers game, so get your proposal to as many different organizations as possible in order to increase your chances of receiving possible funding. Submitting your proposal to only one or two organizations is not a successful strategy in seeking grant funding.
The last step in the grant funding process is to prepare your custom writing.
If the funding organization provides an application form, remember to answer all of the questions in as much detail as possible. If the foundation requires a general proposal, remember to include all of the major components of a grant proposal, including a description of your target demographic, program narrative, and a budget. Donors want to see that you understand your target community and their needs. The proposal will demonstrate this knowledge and show how your organization will be of benefit to the community. Since you are a nonprofit with active 501c3 status this benefit to the community must be precise and clearly stated to ensure that you are indeed serving the entire community.
In addition to grant funding, organizations should continue to conduct fundraisers as an additional source of income. Grant funding is not guaranteed. For all nonprofit organizations establishing and maintaining a diverse source of incomes is essential in building a financially stable organization that is able to stand the test of time. Thousands of public entities apply for grant funding each year, making it extremely competitive. However, each day, organizations are awarded the money necessary to maintain their vital community services, with diligence, your organizations may be one of these successful organizations.