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Strategies for Securing Funding from Foundations

Strategies for Securing Funding from Foundations. Essential Steps for Winning Grants. Identification Research Cultivation Solicitation Persistence Stewardship. Identifying Prospects: Campus Resources. COS http://www.cos.com/. Identifying Prospects: Campus Resources.

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Strategies for Securing Funding from Foundations

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  1. Strategies for Securing Funding from Foundations

  2. Essential Steps for Winning Grants • Identification • Research • Cultivation • Solicitation • Persistence • Stewardship

  3. Identifying Prospects: Campus Resources • COS http://www.cos.com/

  4. Identifying Prospects: Campus Resources • Foundation Directory Online http://fconline.fdncenter.org/ This site is password protected.Please contact ORSPA for assistance.

  5. Other Resources • Johnson City Public Library: Foundation Center Cooperating Collection • http://www.jcpl.net/index.asp?speed=high&screen=wide&css=yes&section=rsrv&page=cooperatingcollection(no need for a password) • Foundation Center • http://foundationcenter.org/collections/cctn.html

  6. Other Resources • Also at the Foundation Center • http://foundationcenter.org/ Click on “Newsletters” to subscribe to Philanthropy News Digest and RFP Bulletin

  7. Purposes of Research • Eligibility requirements • Determining an appropriate ask amount • Preferred application process • Deadlines to apply • Funding priorities • Restrictions on use of funds • Policy on unsolicited applications

  8. Researching Foundations • Foundation Directory Online and/or COS • Foundation Center and GuideStar Web sites • Web site for the foundation prospect, if available • Print materials from the foundation • IRS Form 990

  9. Research Exercise • The Foundation CenterThe Steele-Reese Foundation (see next slide) • http://foundationcenter.org/ • http://foundationcenter.org/cgi-bin/ffindershow.cgi?id=STEE004 • GuideStar • http://www.guidestar.org

  10. Getting to know the Steele-Reese Foundation http://www.steele-reese.org/ Note: This foundation no longer funds projects in Tennessee and is used here as an example only.

  11. Using the IRS Form 990 • Foundation Center • http://foundationcenter.org/cgi-bin/ffindershow.cgi?id=STEE004 • Foundation Center Online Tutorial: “Demystifying the 990-PF” • http://foundationcenter.org/getstarted/tutorials/demystify/

  12. Cultivation • Do your homework, and respect each foundation’s preference for personal contact. • If the foundation has print materials (annual report, application form), request a copy. • Contact the foundation with questions not addressed in print or electronic materials. Be prepared and to the point, letting them direct the conversation.

  13. Cultivation • Site Visits • If a site visit is part of the application process, accommodate foundation staff as much as possible. • Ask for their advice about who should be included in the visit. • Meet with participants before the site visit to prepare them to discuss the proposed project and anticipate questions that may be asked.

  14. Solicitation • Follow application guidelines to the letter. • View your first request as an introduction. Many foundations will not consider an applicant for funding until the second or third try. • Some foundations offer assistance with project development and/or feedback for draft proposals submitted in advance. • Request a reasonable grant amount, based on the foundation’s giving history.

  15. Persistence • Try not to take a declined request personally. • Send a letter thanking the foundation contact for reviewing and considering your proposal. • If allowed, request feedback from staff. • Apply again unless instructed otherwise.

  16. Common Reasons Grant Requests Are Declined • The organization does not meet foundation priorities. • The organization is not located in the foundation’s preferred geographic area of funding. • The proposal does not follow the correct format. • The request is for a purpose other than the foundation will fund. • The amount requested is not within the foundation’s funding range.

  17. Other Common Reasons Grant Requests Are Declined • Scattershot or “spray-and-pray” approach. • The project was not marketed effectively. • Fishing expeditions: offering a list of options for funding. • Lack of a plan for sustainability. • All of the money for the current grant cycle has been allocated.

  18. Stewardship • When awarded a grant: • Send an acknowledgement letter. • Submit grant reports on time and in preferred format. • Request approval before making major changes to your funded project. • Definition of stewardship: “the careful and responsible management of something entrusted to one's care” --Merriam-Webster Online Dictionary

  19. Stewardship Remember that good stewardshipof a foundation grant is the first step in winning the next grant.

  20. Additional Training and Help • The Foundation Center • http://foundationcenter.org/getstarted/learnabout/foundations.html • ETSU Office of Research and Sponsored Programs Administration (ORSPA) *For assistance with budget development, sponsor research, and/or inter-institutional coordination, please contact us early during the proposal development process. • http://www.etsu.edu/research/orspa.htm

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