Getting Financial Assistance-Six Tips to Keep Grant Seekers On Track

By: Anamika Gupta

Do you have a great idea for a project or program that could improve your community? You may be able to get financial assistance to pay for some or all of your program from government agencies, charitable foundations and even businesses.Visit at http://themotley-fool.blogspot.com

You may have many opportunities to access grants to help your program, but there are many chances to slip. Consider these six tips to keep you on track as you seek suitable grants and request financial assistance.

1. Have Clear Purposes and Objectives

Grantmakers have specific purposes such as environmental compliance, community development, providing essential services to the poor, improving health care accessibility, supporting promising artists or supplying safe and affordable housing. When they provide funding, they want to see results. Your clearly stated purposes and objectives will bring focus to your program and to your search for financial assistance.

2. Find Compatible Grantmakers

Seek assistance from organizations that have purposes and goals similar to your own. In addition to being most likely to fund your project, they will have a stake in your success. Because of your common interests and their work with other assistance seekers, they may be able to bring more to the table than just money.

3. Consider Duration and Sustainability

Define the timetable for your project. Grantmakers generally do not intend to provide ongoing funding for a program. They look for projects, i.e. something with a defined duration, cost and desired outcome. This may be start-up activities, studies, construction projects, exhibits, curriculum development or any of a host of other projects.

If you have an ongoing program, consider how you will sustain it after the grant. Some financial assistance providers fund phases of ongoing programs, especially start-up and expansion. However, most provide temporary assistance to start and improve programs, not to fund them long-term. Before apply for a grant, explore whether local contributions, fees, participation in umbrella organizations or other revenues can sustain the program.

4. Follow Directions

Get a copy of the funding agency’s rules, guidelines or procedures and follow them carefully and completely. This goes double if you are seeking assistance from a government agency. These rules are in place to keep a funding program on track, consistently managed and fair.

Those who review proposals and applications may have a lot to go through in little time. If your submission is incomplete in any way, they may put it aside without further review. Do not let a technicality derail your proposal.

5. Follow Up

Be responsive to the funding agency. If they request additional information or clarification, provide it right away. Remember that it is your project and you need to manage it. Call to make sure the agency received your complete application. If there is a public planning or review process, keep track of it.

6. Ask For Feedback (Whether or Not Get Funded)

Private foundations vary widely on the amount and type of feedback they will give (sometimes none), but government agencies will usually give some. Find out what was good or bad about your proposal. Do they think you have a good project, or does it need to be improved? Was your proposal persuasive? Did the agency have higher priorities? Did they think your proposal was great, but they did not have enough money? Use feedback to make your next pitch better.Visit at http://themotley-fool.blogspot.com

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