5 Considerations When Seeking a Fit Foundation for Your Grant Application

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    Many reasons make various individuals and organizations begin researching grant opportunities available. Some individuals are looking for funds for their small businesses, some seeking to defray education costs, and others to fund some social service projects. No matter what you know or have heard about seeking grants. US financial aid is readily available and you do not have to pay it back. In this article, are things to consider when seeking a fit foundation for your grant application.

     

    1. Foundations areas of interest

    Although many foundations slightly define what their areas of interest are, you can still know them. The interests are in groups such as environment, health or arts. Within these groups, the foundation creates a focused grant program for each. For instance, under the group of environment, the funder can decide to award grants that fund research to reduce environmental pollution. Therefore, as you review a fit foundation, it is vital that your organization also fits within a certain program area and not only within the broad areas of the foundations’ interest.

     

    1. Current grantees 

    Check for a list of current or past grantees of the foundation to have an idea of the kind of program or organization the foundation funds. When you see an organization that is similar to your own, it can be good or bad for you, but you have to research more. Do they want to fund in the same category? Or they want to try out another different organization that is not within what your program does? Whether it is a good or bad sign if you go ahead and apply for the grant to this foundation. You need to consider writing an application for an audience that is more sophisticated in the foundation.

     

    1. The annual giving 

    Consider looking at the foundation’s past giving to know how many grants and how much each grant the foundation gives in a given year. However, note that it can vary year to year, across individual programs and total giving. In this way, you can know the programs that are best-funded and which ones are most active, and the odds that you have of getting funded by them. Notably, if the foundation is increasing its funding or has grown in the past years. This is a sign that the size and number of awards will increase as well. It may also mean, that they are open to funding new organizations that they did not consider in the past.

     

    1. The application process and deadlines 

    To know if applying for a grant to a specific foundation is worth it, review the application process. In that, pulling together the application does not take long, they offer decent grant amounts, your project is within priority areas. This may be worth applying for even though it falls under the competitive category. Note the deadlines too. This helps you to know if you have time to apply for the grant or you will have to wait for the next opening.

     

    1. Eligibility requirements

     

    The project that you run may fit with the foundations’ areas of interest, but does it have the basic qualifications to apply? As an example, you may find that the foundation is among those that only award grants to organizations with headquarters in a certain country or region. Also, they may be considering applications from only previous or existing grantees. Because of this, as you seek to know if the foundation is fit to apply to, note if your organization is within the eligibility requirements the foundation needs you to meet.

     

    To sum up, when researching if you can apply for a grant in a specific foundation. The above are some of the things you need to consider to be at par with what is needed. Grant application to winning the grant can be a daunting task and you need to know that you fit the criteria of what they are looking for as an organization. Also, it can be helpful if there is a connection between your staff and the foundation staff. Also, get to know of any past histories or latest news of the foundation that can be helpful to you.