Grants are a great financial resource for nonprofits and there are many out there for essentially every kind of organization. They are also excellent opportunities to add to your fundraising plan and are great options for businesses looking for extra capital to expand and grow. However, before writing it’s important to do the research beforehand about which ones are applicable to your companies goals.
Here's a breakdown of the grant writing process:
Identifying the intended audience for the proposal
Identifying the purpose of the proposal
Compiling information and data about the subject of the proposal
Writing the proposal
Revising, editing, and proofreading the proposal
Submitting the proposal
Start by identifying why you need the grant. What goals do you hope to accomplish with the capital and create the steps and guidelines to make it happen. Create a financial plan that lists out every detail and expense. Becoming well-versed in your financial needs will help you align your values with those of the right grant.
It goes without saying, but it’s incredibly important to research the grant your applying to before writing a single proposal draft. Start by answering the basic questions: What are the qualifications the grant committee is looking for in its applicants and do I meet them? Due to the high volume of applicants some grants have, making sure you explain how you meet the grant application criteria will let you have the most success. Look into who past recipients of the grant are in years priors, just to make sure you’re company or organization is what the grant committee is looking for. Also consider the impact this grant will have on the community and market around you, should you get it. Presenting your company as a catalyst in the growth of the community around you gives your causes longevity and a return on investment for grants with community-oriented grants.
Unfortunately, grant writing is not a one-size-fits-all gig and every grant proposal needs to be carefully crafted to make sure it meets all the application criteria and is thorough on your organization's voice and branding. Hiring a grant writer or seeking out the person on your team with grant writing experience is a great way to make sure your grant proposal is exactly what the grant committee is looking for. There are also great grant writing resources available to you right in the Detroit community--including right here at Bamboo.
The final stages of grant writing is mantra of review, review and review. Always have multiple sets of eyes sift through your carefully crafted proposal. Make sure your organization's goals are clearly laid out and your goals are transparent and relevant to the application. Your end product should be a tailored grant proposal that identifies the funding needed and how it will be used.