Definition Of Grant Proposal
Grant Proposal refers to the process of elaborating, writing and proposing a request for a subsidy. The act of writing a grant application comes from a non profit whose purpose is to find a financing source. On the other hand, the act of receiving, examining and awarding the grant is carried out by a foundation or a private companies. The purpose, in this case, is to deliver a social impact, generate a positive image or (for foundations) pursuing its own core business.
Breaking Down Grant Proposal
However weird it can sound, nonprofits and charities nowadays stand in a really competitive market. That is, you really have to strategize your approach in order to attract donors and funds. The latter have a wide range of choice to tap into. If you want to address them, you have to touch the right chords. They have to feel an emotional connection with your cause. Moreover, donations are the expression of the values and mission of a foundation. Therefore, they latter need to select only those projects that resonate with their core values. If you run a nonprofit in search for a grant, you need to take into consideration these elements. Knowing your potential donor, his objectives and so on can give you a competitive advantage, thus securing the grant and maybe lay the foundations for a long-term relationship.
How to Write A Killer Proposal
So, that said, the question is: how do I write a grant proposal that can dazzle the potential donor? Here is a bullet point list to help you rationalize the process:
- Make sure to know your objective: assume that your charity is working on a project which is expected to build a school in an underdeveloped country. What’s your mission going to accomplish in numbers? How many children are going to benefit from this initiative? Who is going to run and manage the school?
- Know your potential donors: make sure to know and connect with your donor, the latter being either a foundation or a corporation.
- Highlight the impact of your project: the grantor needs to have the assurance that his subsidy is going to deliver a real social impact. Write a detailed and targeted plan where you will explain how you are going to implement your project, what’s your target and how you are going to measure it. Remember: don’t embark in initiatives that you cannot measure and quantify.
The Grantor Perspective
As aforementioned, the grant proposal process consists of two parts: the writing and the assessment. The second part concerns who gives the grant. The latter, once he receives the application, needs to carefully examine it, check if it aligns with the organization’s mission and make sure the social impact can be measurable.
If you receive many requests, furthermore, the ideal would be to rely on a software. The latter helps you streamline and collect all the applications. Moreover, it ranks them depending on your personal criteria and directly discard those that don’t meet the requirements and expectations. This way, you can focus only on those projects that are coherent with your values.
The final step of the process is to award the grant and inform the grantees of the decision. Afterwards, establish accurate guidelines on how the partnership is going to evolve.
Remember that this is only a part of the overall grant management process: after awarding the grant, it’s important to nurture a constant and meaningful collaboration with the grantee, manage the project externally and internally and have a system that lets you assess the results of the campaign.
Having issues managing the incoming grant proposals? Then have a look at how to manage the grant applications.