WHAT IS GRANT FUNDING? Before you make a mad dash and rush to apply for that big grant award, it's important to understand the basics. Grant funding is an award that provides monetary support to organizations (typically non-profit), educational institutions or government subsidized entities. Grant funding awards are provided by Foundations, Private Trusts, Government Agencies (City, State and Local), and Businesses. No two grant applications are identical; therefore it is important to read the Grant Guidelines, FAQ's, Past Recipient Awards, and pull a copy of the organization's Tax Form 990. (Form 990 is public information.) Review Grant Writing Step by Step to learn more!
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An effective, profitable fundraising event takes work….a lot of WORK! A successful fundraising event requires extensive planning, strategy, budgeting and coordination.
It is impossible to prevent all mistakes or foresee every problem that could occur; however, the following tips may help your organization avoid fundraising mistakes. Fundraising mistakes can be the difference between a successful event and one that is not! TOP 10 FUNDRAISING MISTAKES 1. Crisis Mode Fundraising Avoid THROWING TOGETHER a fundraiser to address an immediate financial emergency. Hosting a fundraising event requires extensive planning. Allow a minimum of four to six months for planning. 2. Failing to Research Conflicting Events The goal of a fundraising event is NOT to simply attract dedicated supporters of your cause, but to attract new donors and volunteers. It is imperative to thoroughly research possible conflicts. Search Community Calendars and Similar Organization Websites to help identify conflicts. 3. Failing to Prepare a Budget Failing to create and follow a strict budget can drastically and negatively impact the potential profits of the intended FUNDRAISING event. Be mindful of expenses (large and small) not included in the budget. 4. Assumption of In-Kind Donations Donated items are key components for the success of a fundraising event. Part of the planning process should include a strategy for requesting In-Kind donations; the danger lies in DEPENDING upon them. Necessary items should be included in the budget. If these items are actually donated, the profit margin increases. 5. Lack of Back-Up Planning A back-up plan is necessary in the event of inclement weather or unforeseen emergencies. 6. Failing to Abide by Local Laws and Ordinance Verify that the event is covered under an existing insurance policy or whether an umbrella policy may be necessary. Obtain ALL required permits and be aware of ordinances that have the potential to interrupt or shut down the event. (Example: Noise, Traffic or Parking Ordinances) 7. Lack of Marketing Strategy Social media platforms are great tools; however, this resource should never be relied upon as the ONLY source of marketing. Awareness is a must! People must be made aware of a fundraising event, or they will not attend. Again, the budget should include advertising costs. 8. Professional Fee/Contract Misunderstandings Read contracts CAREFULLY regarding payment, equipment and fees for speakers, musicians, etc. 9. Equipment Issues/Security When at all possible, have extra equipment or qualified staff that can correct an issue. Problems with sound systems, refrigeration units, air-conditioning/heat and outdoor electric outlets can RUIN a fundraising event. Also, SECURITY is vital for the protection of attendees, workers and facilities. 10. Failure to Form a Fundraising Committee Form a fundraising committee comprised of dedicated volunteers who are willing to take charge of certain tasks. Never tackle the challenge of putting together a fundraising event alone or with minimal volunteers. GUARANTEED GRANT FUNDING Beware of false, deceptive and misleading websites that offer information that imply guaranteed grant funding. Grant funding is an award that is determined by the grantor either through an application process or private funding. NEVER send money to get money. Do not be misled by the many books and websites that promise guaranteed grants or suggest that money is just sitting around waiting for you to take it. GO BACK TO SCHOOL FREE Individuals cannot apply for grants to go back to school. Colleges and Universities receive funding from a variety of sources including: Government (State and Federal), tuition, endowments, businesses, and individuals and provide awards based on their specific criteria. START YOUR OWN BUSINESS Grant funding is not provided to individuals to start a business. The government does provide grant funding to various non-profit organizations, state and local programs to assist. The government does offer some assistance for small businesses to obtain low interest loans. Contact your area's Small Business Administration for more details. BUY A HOUSE Once again, federal grant funding is provided to non-profit organizations, state and local governments to help with low income housing. Some financial institutions will also help with low interest loans for qualified buyers. Individual grant funding is not provided for this purpose. Like the saying goes," If it sounds too good to be true, it probably is!"
A depressed economy, declining monetary support and increased anxiety has led to a MASS DEPARTURE OF EXECUTIVE DIRECTORS. When an Executive Director leaves a nonprofit organization, they often take with them vital information and partnership contacts. The affected organization may experience a decrease in donations, as well as, resignations by both board members and staff. Typically, a nonprofit Executive Director is responsible for the overall operation of the organization, serves as a liaison between staff and board members and is responsible for promotions, fundraising and the financial health of the organization. While responsibilities may vary, depending on the size of the organization, ultimately the Executive Director receives accolades for success and assumes the consequences for all failures. According to a nonprofit survey conducted by the United Way of King County in Seattle, Washington, the average tenure for an Executive Director, within the nonprofit sector, averages 6.1 years. In addition, a July 2011 article, http://www.philanthropyjournal.org/news/top-stories/exodus-executive-directors-expected, entitled Exodus of Executive Directors, highlights a Meier Foundation study citing “Sixty-Seven percent of executives plan to leave their jobs within five years.” Stress, burn-out, low wages, lack of benefits and board member conflicts are just a few reasons attributed to this staggering, high turnover rate. Although these statistics are alarming, the departure effect on the nonprofit is, often underestimated, unsettling and sometimes tragic. The relevance, of whether the Executive Director chooses to leave by his/her own volition or the decision is mandated by a Board of Directors, is moot; either way, the organization suffers as a direct result of an Executive Director departure unless a transition plan is in place. Outsourcing grant- writing services can be an essential part of a successful transition plan. An independent grant writer can help provide stability during this pivotal transition time by allowing the Board of Directors the freedom to search and identify a qualified candidate to fulfill this vital role without worrying about the financial health of the organization. Listed below are a few of the benefits of outsourcing grant-writing services: 1) Copy retention of valuable organization documentation including:
3) Grant monies requested, received and required reporting 4) Campaign and grant application deadlines 5) Funding resource strategies Outsourcing grant- writing services can also be an asset once a new Executive Director is hired. Grant writing involves hours of research to identify funding opportunities that match both the funder and the organization mission, areas of interest (support), geographic location and monetary requirements. By affording a nonprofit leader the ability to concentrate on implementing the programs and projects that benefit their respective communities, the organization can increase the likelihood that the Executive Director will remain in that position longer and a successful organization can once again, be realized and enjoyed.
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