In 2023, grants made up a larger share of philanthropic support than ever before, according to Giving USA. No matter where your organization stands in its lifecycle, you can and should be thinking about your readiness to attract transformational gifts. Whether you’re seeking your first grant, or preparing for a higher level of support, it’s important to be intentional in your preparation activities.
Let's walk through some of the most frequent questions we receive about grants and grant readiness:
Q. What does “grant readiness” mean?
A. “Grant readiness” refers to an organization’s ability to (1) successfully apply for and (2) manage a grant after it’s awarded. This includes having a clear and compelling case for support, preparing necessary application materials, and having systems in place to implement the proposed grant activities and monitor its outcomes.
Q. Our organization wants to seek grants for the first time. How can we get started?
A. There are a few key steps you can take to lay a strong foundation for a grant program:
Create a grant toolkit. Include all standard grant attachments: IRS determination letter, organizational budget, program budgets, list of Board members with contact information, and audited financial statements or your most recent tax return.
Define your grant priorities. Which programs have demonstrated outcomes? What activities would benefit from additional funding?
Create a grant team. Grants require a team approach to be successful. Include finance, program, development, and leadership representatives to make sure your grant activities align with the organization’s strategic plan and priorities.
Q. How do we find grants to apply for?
A. The most efficient way is to utilize grant databases to research grants and grantmakers that are a good fit for your organization and programs. Grants.gov is the go-to site for federal grants. Each state, city, and local government entity has their own process for sharing grant opportunities; a Google search for the right department or agency will likely lead you to the relevant grant clearinghouse. For private and foundation grants there are several databases to choose from, most of which are subscription services. Some of our favorites include Foundation Directory Online, GrantStation, and Instrumentl. Pay close attention to the funders’ priorities and geographic limitations.
Q. We’ve received small gifts in the past but want to increase our readiness for transformational grants (i.e. large grants, state/federal funding, etc.). What should we focus on?
A. Be proactive! Government grant proposals are generally a very large undertaking—sometimes more than 100 hours of work! The 4-8 weeks provided from the release of the NOFO (Notice of Funding Opportunity) to the application deadline will fly by. Use grant research tools to anticipate NOFO release dates and begin working on the grant narrative in advance. Regardless of the funder, you can conduct important planning activities: create a logic model, partner with program staff to set SMART objectives, and determine if you’ll need to hire new staff. Having those pieces in place will make the grant proposal writing process much easier!
Q. We’ve put a lot of effort into our application readiness. Is there anything else we need to think about?
A. Take this opportunity to conduct an organizational assessment. Transformational grants require a higher level of financial oversight, careful data collection, and good communication between departments. Ask your grant team members to help identify organizational challenges or policy and procedure gaps that might complicate grant management.
Q: Can AltruNext help us address our organization’s readiness?
A: Yes! We can:
Provide a peer review of a specific grant proposal or a grant boilerplate. We have served on grant review panels and can "score" your proposal.
Conduct a full assessment of your organization’s grant readiness and recommend actions to increase readiness. (Just as we did for our client Monarch, which provides behavioral health services in North Carolina.)
Research grant funders and create a grant calendar to prioritize the best opportunities. (Learn how AltruNext helped the Leukemia Research Foundation find new grant prospects.)
Write grant proposals using best practices. (Read AMITA Health’s story about securing millions of dollars of grant support with AltruNext as a partner.)
With the right preparation, strategy, and support your organization can turn ambitious funding goals into reality.
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