Grant Season is in!
As many agencies are gearing up for another round of fund making, many organizations are bracing for another round of cuts and budget deficits. With the economy still recovering from the “Great Recession,” organizations are holding on to the rollercoaster’s every move. With the loss of funds, grant funding has become ever more vital to organizations’ bottom lines and it is ever so competitive to obtain the reduced funds. In 2011 the federal government allocated over $541.1 billion dollars in grant funds. Of those funds, Ohio received approximately $19 billion. According to Govspending.com, most of the federal funds allocated in 2011 were distributed to federal agencies; however, $225,175,670 was allocated to nonprofit agencies, $92, 125, 789 for profit agencies, and $26,376,385 to organizations considered “other.” Additionally, there were $45.7 million given by foundations in 2010.
How do you stay competitive during these times of uncertainty?
- Ensure that your organization’s mission aligns with the funder’s mission.
- If you do not qualify, do not apply. It’s best to send a Letter of Intent (LOI) first, expressing your desire to submit a full proposal.
- Ensure that you have sufficient time planned for writing, revising, editing and obtaining internal peer reviewers.
- Establish a fund development plan; don’t depend solely on grant funds.
- If you’re unsuccessful, ask for reviewer’s comment sheets.
- Consider taking an extensive grant writing class to gain the skills and knowledge needed.
- Collaborate, instead of looking at others as competitors, to leverage funding.
As in all rollercoaster rides, remember to buckle up and hold on tight.
Are you obtaining your piece of the pie? If not, give us a call we can help!