first_imgA truly sustainable funding model is the holy grail of nonprofits. A great way to achieve that goal is by making sure you have a diversified revenue stream that includes individual donations, fees for service, and grant funding. A healthy organization can stack up these funding sources for a strong foundation that supports their mission. Grant seekers ask us for lots of advice, so we chatted with Cynthia Adams, president and CEO of GrantStation and a longtime friend of Network for Good, about a new way of approaching grant funding, including a recently launched resource called the PathFinder.NFG: Cynthia, what have you found to be the biggest hurdle for nonprofits looking to secure grants?Cynthia Adams: Actually, there are three significant hurdles. First you have to thoroughly identify what you need the funding for, which isn’t as simple as it sounds! Second, you have to identify the right grant makers to approach for the funding. And third, you need the skills to develop and write compelling grant requests.Most organizations are familiar with the tried-and-true grant makers, but what are some overlooked sources of grant funding?CA: I am very fond of looking outside the box when identifying potential funders for a project. For example, I like to look at national and international associations. These groups, especially those associations representing companies that manufacture goods, can often be fabulous sources of support. The Toy Industry Association offers literally thousands of donated toys via the Toy Industry Foundation.What do you recommend to organizations that don’t have someone on staff who can take on researching, applying for, and managing grants? Does this require a full-time person?CA: It depends on the size of the organization and the number of grant proposals you expect to submit. At GrantStation, we’ve just launched a new free resource called the PathFinder. It includes tons of resources in a searchable database to help everyone from novices to the most experienced individual in the areas of grant research, grant writing, and grant management.We talk a lot about storytelling and reporting on impact for individual donors. Where does this fit in with grant funding?CA: Storytelling is an integral part of the grant-writing process. You want to engage the person reviewing your proposal right off the bat, so opening your request with a true-life story is a great way to do that. I often include a case study or “story” in the statement of need as well.What’s the smartest way for fundraisers to combine grant funding with making the most of gifts from individual donors?CA: I had this rule of thumb when I was working as a development director for nonprofits: I would use any significant gift from an individual to leverage any grant proposal I was working on. So, if someone came by and made a $1,000 gift, and I was working on a proposal to upgrade all the office equipment, website, etc., I would ask that donor if I could use their gift to help leverage the grant. It worked for me!Thank you so much, Cynthia, for sharing your insights on new ways to approach grant funding. For more help with expanding your funding base with grants, download our archived webinar with Cynthia Adams, Getting Started with Grants: How to Make Your Requests Shine.last_img

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