WF SEM II 2.03: How to Solicit Grant/Foundation Money.

WF SEM II

2.03: How to Solicit Grant/Foundation Money

Grants and Foundations

• Grant - non-repayable funds disbursed by one party; often a government department, corporation, foundation or trust, to a recipient, educational institution, business or an individual.• Foundation - a legal categorization of nonprofit

organizations that will typically either donate funds and support to other organizations, or provide the source of funding for its own charitable purposes.

People who Benefit from Grants/Foundations

• Undergraduate and Graduate Students• Non-Profit Organizations• Small Businesses• Schools

Considerations for Grant Money• Most grants are made to fund a specific project

and require some level of compliance and reporting.• Other grants can be given to individuals, such as

victims of natural disasters or individuals who seek to open a small business.

Grant Writing

• The grant writing process involves an applicant submitting a proposal to a potential funder, either on the applicant's own initiative or in response to a Request for Proposal from the funder.• Most grant applications involve the following:• Cover Letter• Executive Summary• Problem Statements/Need Description• Budget• Qualifications• Conclusion• Supporting Material

Considerations for Foundation Money• Businesses, Groups, or Local Teams are

considered for a donation from a foundation if they ask for a donation.• You must go to a foundation to ask for a money,

the foundation will not come to you and ask to give you money.

Research Tools to Locate Funders• http://

www.dummies.com/how-to/content/the-essentials-of-finding-and-applying-for-a-grant.html • Foundations are usually local and are found by

searching for non-profits in the area.• Grants most often come from a wide range of

government departments or an even wider range of public and private trusts and foundations.

Advantages Gained by Local vs. National Businesses• Local Business• You can get more of a personal meeting with the

committee• More than likely an individual in the community

has won the particular grant• National Business • More opportunities for money at the national

level• Usually with easily recognizable company

Following Up with Prospect/Sponsor

Importance of Following Up

• Most prospects don’t say “Yes” the first time by. • Prospects want to know that you care about the

business they are willing to offer you.• Sometimes the prospect just needs a little reminder

that you are still interested.

How do you follow up?

1. Keep all the business cards you have collected and any leads in a safe place.• You may have to follow up more than once with prospective

clients.

2. Make an effort to remember new faces and names when meeting business prospects.

3. Make your initial follow up with business prospects within 24 to 48 hours of your first contact with the prospects. • You can use a quick call, letter or a brief email to do so.

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4. Leave an optimistic, professional and friendly message if you call a business prospect and the answering machine picks up.

5. Continue to follow up, according to your sales policy. • Some companies use a standard follow-up process, making

contact at 24 hours, 72 hours and 2 weeks

6. Update your database any time you try to contact or do contact prospective clients. • This can help you tailor your proposal each time you talk

Ways to Follow Up w/ Potential Prospects

• Fax• Phone call• Ex: This is Such And Such from My Organization. I just

wanted to follow up on the sponsorship request I sent. Do you have a few seconds?

• Letter• Face-to-face• Email