Make Your Foundation Research Work
Too often the seeds of failure in raising money from foundations are a result of poor, or non-existent foundation research. According to numerous funders, between 40 and 75 percent of proposals they receive don't fit their guidelines!
Terry Odendahl, formerly of the Wyss Foundation, speaks for many when she states, "Two out of three applicants haven't done their research." Here are four steps that will greatly improve your funding odds!
- Step One: Sleuthing
- Study nonprofit newsletters (national, regional, local) - see where they are getting their funding.
- Check with your peers in other groups. Ask them how they got support.
- Talk with funders. Begin with your current funders, ask for their help.
- Make an "information only" appointment with a foundation grantmaker who supports your field of interest.
- Keep a box of "grant leads to check out." And follow-up when you can.
- Step Two: Using Online Resources
- Remember, less than 5% of all foundations have Web sites.
- Your best electronic resources will often be an e-resource list. Here are some examples of great resources:
- Foundation Center www.fdncentre.org
- GuideStar: www.guidestar.org
- National Network of Grantmakers: www.nng.org
- Council on Foundations:www.cof.org
- Step Three: Doing Library Research
- The Foundation Center. The Center has an online resource with regional libraries. Local libraries contain searchable funding information on CD-ROM. Also, they have hard copies of directories and related information. These directories include:
- The Foundation Directory
- The Foundation Directory Part 2
- The Foundation 1000
- The Foundation Grant Index
- The Guide to U.S. Foundations - list of foundation trustees (see if you have contacts)
- The Foundation Center. The Center has an online resource with regional libraries. Local libraries contain searchable funding information on CD-ROM. Also, they have hard copies of directories and related information. These directories include:
- Step Four: Studying Current Guidelines
- Foundation directories and computer searches can provide great information but it is often brief and dated. Go to the Grantmakers and ask for: guidelines, Annual reports, and List of grantees
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