GRANTEGY: Don’t Leave Your Grants to Chance Series

Part V, Section II: Grant Research – Strategies for Success!

As we continue to discuss the importance of grant research, remember: Researching potential grantmakers is an essential part of the grant development process. As previously mentioned, effective funding research increases your chances of securing grants by targeting the right funders and helps you save time and resources when focusing on the most promising opportunities. When you are able to tailor your proposals to funder priorities, it will also help in the long term by building relationships with funders who share your vision.

Now, we can delve deeper into interpreting and assessing RFPs, aligning organizational needs, and tracking and managing funder information.

Interpreting RFPs and Assessing Eligibility

Funders issue RFPs (Request for Proposals) to encourage eligible organizations to submit proposals for grant funding. While identifying the best candidates for a grant, the RFPs are known for being tailored to specific goals so potential applicants avoid wasting time and resources on grants that are unlikely to be approved. Understanding how to analyze and interpret these documents is essential to solid grant research. Key components of an RFP typically include:

• Program description and goals
• Eligibility criteria
• Application requirements and deadlines
• Evaluation criteria
• Budget guidelines
• Reporting requirements

Not every funding opportunity is right for every organization, so reviewing the components, especially the eligibility criteria, will help you further narrow down potential fits as well as disqualifiers. If the organization seems qualified, you would dig deeper into the funder or grantmaker’s objectives and make sure the opportunity aligns with your organization’s mission and goals. Because these opportunities are competitive, here are five things you should take into consideration when further narrowing down.

1. Geographic scope:

• National opportunities typically attract more applicants than state or local ones.
• RFPs targeting specific regions or communities may have a smaller applicant pool.

2. Who else might be applying? Looking at the eligibility criteria again:

• Broad eligibility (e.g., “all 501(c)(3) organizations”) suggests more competition.
• Narrow, specific criteria (e.g., “organizations serving veterans in rural Southwest states”) indicate a smaller applicant pool.

3. Pre-application requirements:

• Mandatory letters of intent or pre-proposals can indicate that the funder expects high interest. The funder may share how many organizations submitted these.

4. Information session attendance:

• High attendance at bidders’ conferences or information sessions suggests strong interest, which can mean more competition.

5. New vs. established program:

• First-time grant programs may attract fewer applicants due to less awareness.
• Well-known, recurring grant programs often have more competition.

After thoroughly analyzing the RFP, the crucial next step is deciding whether to pursue the opportunity with the data collected and engaging stakeholders for their input. You can conduct a cost-benefit analysis to 1) determine if your organization has the resources to fulfill all of the grant requirements, 2) weigh the potential funding against the effort required to apply and manage the grant, and 3) discuss how pursuing the grant might impact other organizational priorities. By following our strategic approach to evaluating RFPs, you can increase your chances of success and ensure that you’re using your organization’s resources wisely.

Aligning Organizational Needs

Before you can effectively match your organization with funders, you need a clear understanding of your organization’s goals, programs, and projects. Think back to the feasibility study. Through conducting a program inventory, a financial review, and an impact assessment, you can confirm your organization’s capacity and strategic alignment that are critical to your mission and goals. With these in mind, you can more effectively match the priorities of your organization with funder priorities. Here are some techniques you can use:

a. Keyword Mapping: Identify key terms that describe your programs and alignment with your organization’s impact

b. Problem-Solution Alignment: Clearly articulate the problem your program addresses, and the solution funders will provide

c. Geographic Focus: Match your service area with funders’ geographic priorities

d. Target Population Alignment: Identify funders who prioritize your key beneficiaries ie BIPOC, Veterans, Children…

e. Innovative Approaches: Highlight unique or innovative aspects of your programs that align with grantmaker requirements or desired impacts

f. Partnerships and Collaborations: Identify potential partners that could strengthen your application

This alignment is key to securing the right types of grant funding for your organization. While it’s important to align with funder priorities, it’s equally important to stay true to your mission. Use your mission statement as a filter for all funding decisions. For any new initiative, plan how you’ll sustain or conclude it when grant funding ends and avoid becoming dependent on a single funding source. Remember, it’s okay to decline funding that doesn’t align with your mission or capacity, even if it seems attractive in the short term.

Tracking and Managing Funder Information

So, what’s next? You need to figure out what to do with all of the data and funder profiles you have been collecting. You have to utilize effective information management to build and maintain relationships with funders, stay on top of opportunities, and streamline your grant-seeking process. Whatever you choose, make sure you use the following fields at a minimum:

– Funder name and contact information

– Funding focus areas

– Geographic focus

– Types of support offered, i.e. operating, capital, etc

– Application deadlines and process

– Funding ranges

– Past giving history

– Your organization’s history with the funder

– Notes from interactions or research

There are various tools available for managing funder information, ranging from simple spreadsheets to sophisticated database systems like Google Sheets, Excel, or even CRMs like Salesforce. When choosing a tool, consider your organization’s needs, such as size, budget, and technical capacity. Please remember that keeping your funder information current is crucial to making your overall system work. Here are 4 steps to help you develop a system for updates

1) Set a Regular Schedule

2) Assign Responsibilities

3) Implement a Follow-up System

4) Utilize Automation

Effective tracking and managing funder information is a strategic endeavor for successful grant-seeking. It allows you to be proactive rather than reactive, builds institutional memory, and helps you cultivate long-term relationships with funders. The goal isn’t just to collect data but to strategically transform that data into actionable insights for your organization.

Aligning your organization’s needs with available funding opportunities is key to securing grant funding. When researching, interpreting RFPs and assessing eligibility are also critical skills in the grant-seeking process that require careful analysis, strategic thinking, and collaborative decision-making within your organization. It’s just as important to know when to pass on a grant as it is to know when to pursue one.

Remember, the goal isn’t just to get grants—it’s to secure the right funding. By aligning with grantmakers, you’re increasing your chances of grant success and ensuring the long-term sustainability and impact of your organization. You’re building a foundation for programs that truly serve your community rather than chasing dollars that may lead you astray. So as you move forward, constantly ask yourself: Does this opportunity allow us to do what we do best? Does it amplify our impact? Does it respect our values and mission? If you can strategically answer “yes” to these questions, you’re on the right path.