Important Steps Involved in a Foundation Grant Application

Applying for a foundation grant is a lengthy and detailed process that includes research, an inquiry letter, a grant proposal and follow-up. The letter of inquiry is the most time consuming and potentially the most crucial element that determines success in the foundation grant application process.

Before contacting a foundation, do research to determine if your project meets the basic requirements for funding. If your organization meets the criteria, it’s time to write the letter of inquiry. Similar to a grant proposal, the letter of inquiry includes:

• an introduction
• an organization description
• a statement of need
• a plan of action
• other sources of funding
• a summary

The introduction includes the name of your organization, the amount of money you’re requesting and a project description. You should also include the qualifications of your organization’s staff.

The organization description should be brief and focused. Describe any current projects and highlight successful outcomes of past projects. Include any distinguishing features, such as awards.

In order to receive approval of a foundation grant application, you’ll need to provide compelling reasons why you should be funded. The statement of need provides an opportunity to explain the problem your organization will address and which segment of the population will be served by your project.

The plan of action, also referred to as methodology, communicates the proposed solutions to the problem presented in the statement of need. Discuss staff member’s participation, activities and desired objectives.

If your project receives funding from other sources, provide information about the type of funding received. Also explain how the funding is used to meet the project’s objectives.

Finally, in the summary, emphasize key points and thank the foundation board for their time and consideration. The letter of inquiry is usually submitted through the foundations website. If the foundation has an interest in funding your project you’ll receive an invitation to submit a grant proposal.

The grant proposal is a more developed version of the letter of inquiry. Follow the same outline but provide more detailed supporting information such as resumes and endorsements. Refer to the foundation’s guidelines to insure you’ve included all necessary information. Once you’ve submitted the proposal, you’ve completed the foundation grant application.

The foundation will contact you with an approval or a rejection within the time specified in the guidelines. If your proposal is rejected, follow-up by thanking the board of the foundation for their time and express the desire to reapply the following year. This extra step may contribute to future funding directly from the foundation or through a recommendation provided by them.

With the correct Grant Application Forms filled out and sent, you could receive the money you need immediately.

Tags: Application, Foundation, Grant, Important, Involved, Steps