Prospect research for new foundation grants keeps sliding down your to-do list, but finally you found the time to concentrate on the task. After hours (or days, or weeks) of scanning online databases, scrolling through LinkedIn, investigating funder networks and shamelessly digging into all your colleagues’ supporters, you’ve emerged bleary-eyed from interpreting guidelines and eligibility restrictions and have succeeded in putting together a healthy list of foundations whose interests match your mission, and who clearly should be sending you money.
But hang on: Don’t let optimism cloud your judgment. The hunt for prospects — scrolling through long lists of grants to organizations just like yours and wrapping one’s head around the vast philanthropic resources available in the world — has the tendency to tint one’s glasses to rose-colored. While it’s evident that these funders should leap at the chance to invest in your organization, the reality is that, according to most studies, nonprofits receive only 10% of the grants they apply for.
Consider the audience for your request: a program officer who is as bleary-eyed as you. She has to review 10 times more requests as she can fund. It’s already 5 p.m., and she needs to pick up her child from soccer practice. She is looking for reasons to eliminate as many proposals as she can, to make her impossible decisions slightly more possible.
Your proposal is well-written and organized, of course. You’ve even dropped in keywords from the foundation’s website to show you’re not just broadcasting boilerplate concept notes. But despite your good first impression, she rejects your request after reading the opening paragraph, closes her laptop and heads to the minivan.
The best way to boost your success rate is to put aside the optimism that got you into nonprofit work in the first place, and approach each prospect not by asking why you should apply, but why you shouldn’t.
Here’s a rubric to consider when screening your list. A good prospect passes all five of these tests.
1. They Make Grants to Nonprofits
This isn’t as obvious as it sounds. Lots of foundations only give fellowships and scholarships to individuals, and many operating foundations (normally organizations supported by a sole funding source) aren’t terribly clear on their websites that they do not make grants at all. Most importantly, if their website isn’t up to date or there’s no evidence of recent grantmaking, they likely aren’t worth chasing down.
2. You’re Eligible and in the Right Place
Next, make sure you meet the funder’s basic requirements to apply, and that you fall into their geographic interest area. Often these criteria are hidden. Look for a history of support for organizations like yours, especially in your region.
3. The Type of Support and the Amount Is Right
Ensure the funder makes grants for programs or general operating support, not just academic research or fellowships. Decide the request amount that makes an approach worth your energy, and check its average grant sizes before you invest the time.
4. They’re Interested in What You Do Specifically
This is the test that leaves the most room for uncurbed enthusiasm. Make sure the funder’s grantmaking focus fits the specific project activities in your concept note. If you find yourself formulating an argument in your head for how your program could possibly be interpreted to fit their guidelines rather than thinking of how strong your argument already is, then it’s best to face the reality that this prospect is likely not a good fit, and spend your limited time elsewhere.
5. They’re Open to Contact
Finally, does the funder have an open application system or clear means of contact? Many don’t, but that shouldn’t deter you from connecting. Often you’ll find a note that says applications aren’t accepted, but some other indication is made that they welcome contact. In this case, a letter of inquiry is appropriate, asking if they’d consider reviewing a proposal or even sitting down for a meeting.
Other times the website will be clear that the funder doesn’t entertain applications of any kind, but you still think they’re an exceptionally good fit — plus you’ve found a contact person and email address. In this case, they’re worth cultivating as a potential longer-term relationship, beginning with an introductory note and following up periodically with updates.
It should take just a few minutes to apply this rubric while you’re visiting a funders’ website, and prevent dead weight dragging down your success rate percentage. More than 60% of nonprofit grantseekers are doing the work by themselves, with no support. This too contributes to lower success rates, so it’s worthwhile to hand over your prospect list to a colleague and ask them to apply this rubric. Consider asking the team pessimist to take on this task, and you may find yourself with more time to find even better prospects.
The preceding post was provided by an individual unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO.
Related story: What Grant Funders Really Want
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Shannon Cain is principal consultant at Cain & Company, a global fundraising collective that moves resources toward democracy, social justice and climate change. She has more than 30 years' experience in nonprofit executive leadership, having directed a feminist literary press, an advocacy group for women in shelters, a residency program for Black writers, and a grantmaking foundation for women and girls.