I’m New to Grants! What Do I Need to Know to Get Started?

When it comes to grants, it may seem overwhelming to know where to start. But whether you are experienced or completely new to the concept, the basics are still the same. Your chances are just as good as anyone else’s. Ultimately, with the information we’re presenting to you, you may be better able to write the kind of well-written proposal that will get the grant funding you’re searching for.

Step 1: Understanding Grants

Do you know the types of grants available and what they are for? Grants come from a variety of funding sources, primarily:

• Foundations
• Corporations
• Governments (local, state and federal)

Grants are provided to achieve your goals in helping to make a positive impact in your community. These resources can be in the form of money and/or in-kind assistance. Unlike loans, grants do not need to be repaid. However, there are strict guidelines laid out by the funding source that must be followed in order to receive and use the grant.

You must use the grant for approved products or services. If you do not spend the funds as they were intended, you might jeopardize your access to those funds. In many cases, you would also need to return the grant award to the funding source from which it was allocated. If you’ve already spent the money, you may have to pay it back out of your own pocket! A regulatory agency may issue a fine and possibly ban you from applying for grants again. You may even face jail time.

Step 2: The Search for Grants

First, you need to start your grant search. GrantWatch is the leading grant listing directory with more than 7,000 verified grants currently accepting applications. For a small nominal membership fee, you can access the full database of grant listings, making it easy to find all the grants in one place. Using keyword-search filters, you can narrow your results to match the type, location and category interests of the recipient. Once you compile a short list of potential grants, you then need to read through the eligibility criteria and requirements for each grant for which you have an interest. Make sure you are eligible to apply for a grant before proceeding to the next step.

Step 3: Gathering the Essential Documents

Gather the basic information and attachments needed for your grant proposal before you start. These documents include:

1. Documents to verify your 501(c) (3) tax-exempt status
2. Your mission statement
3. Two years of financials
4. Provide your organizations overall budget & program budgets
5. A list of board members & their roles (highlighting expertise, experience and diversity)
6. Staff resumes
7. Key staff job descriptions
8. Written strategic plans (similar to a business plan, but for nonprofits)
9. Past successes and stories
10. Support letters/collaborations
11. List other funding sources

Step 4: The Grant Proposal

Once you have acquired the necessary information and documents, it is time to move on to the grant writing portion of your grant proposal. A grant proposal is essentially your ‘application’. However, it is more similar to an essay rather than a questionnaire. Each grant will require you to write a proposal. Tailor your proposal to the requirements of the funding source; every grant proposal will be different. You may be able to reuse some sections, but it is unlikely you will be able to reuse the whole grant proposal for other grants to which you apply.

Step 5: Key Grant Writing Elements

These are the 10 key elements of grant writing. Also, remember to always follow the directions as outlined by the funding source to validate the need for funding.

1. State the need/problem
2. Define the target population
3. Outline previous collaborations
4. Give your program description
5. Provide your agency’s capabilities & background
6. Include unique & innovative goals and objectives
7. Include your budget; track your volunteer hours (use the volunteer base rate in your state), track your donations and record in-kind services
8. Detail the number of volunteers you have
9. Give measurable SMART outcomes (Specific-Measurable-Achievable-Relevant-Time bound)
10. Include an evaluation of the project or program
    

Grant applications vary in size and requirements. It can take as much as 20-30 hours to complete a foundation or corporate grant application. So don’t rush the process; take your time answering each question as best you can. If you aren’t comfortable completing the grant writing process on your own, you may want the advice of a professional, or you can hire a grant writer to write the entire grant proposal on your behalf.

An LOI (Letter of Intent) is sometimes all that is needed. You’ll save yourself the trouble of doing a full proposal as it will likely only be a few pages in length.

What You Can Expect

Once you submit your grant proposal to the funding source, it’s time to sit back and wait. On average, it can take up to six months to receive a response. Don’t take it personally if you are not awarded a grant; many other organizations likely apply for that same grant. Submit three or more grant applications to a variety of funders and you are more likely to receive at least one grant. 2017 data collected from U.S. nonprofits revealed these odds of being awarded a grant:

• 1 Application: 63% of respondents won at least one grant.
• 2 Applications: 75% of respondents won at least one grant. 
• 3 to 5 Applications: 89% of respondents won at least one grant.
• 6 to 10 Applications: 96% of respondents won at least one grant.
• 11 to 20 Applications: 98% of respondents won at least one grant.
• 21 to 30 Applications: 99% of respondents won at least one grant.

Looking for grants? With more than 8,000 grants are currently available, GrantWatch.com is the leading grant listing directory. A MemberPlus+ subscription is required to view the full grant details, including the eligibility criteria and application information. For more information, you can also visit the GrantWatch FAQ page, and to see the great value with the top 20 GrantWatch features, click here.

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