When to Seek Funding for Your Next Project: Knowing the Right Time to Seek Grants for your Project
Grants are basically the lifeblood of every non-profit organization. From the received money coming from various institutions, they are able to sustain and support projects and causes. Although grants are the source of funds for non-profits, not all programs of non-profits should rely on grants.
Since grants are given to support given projects, care should be given when considering applying for grants. In developing a program that’s worth funding, you need to provide a full description of the program or project that you hope to fund, including your reason why you want to create such programs. Detailed specification of goals along with your budget is a good way of presenting your goals and objectives to a funding institution. Indeed, grants are perfect source of funding for projects or causes that are not yet running and will not require funding year after year like:
- Acquisition of needed equipment
- Program expansion through activities, seminars, trainings
- Creation of educational materials and information leaflets
- Starting programs that require one-time purchases and need no additional funding to sustain their operation
- Programs that focus on the special needs of the community such as programs for kids with disabilities, scholarships, etc.
But before sitting down and starting to write a grant proposal, you must first consider other possible effects that go with every grant application. Since grant money does not to be repaid, many non-profits are enticed to create programs that are bigger than what their organization can handle. Yes, it may be true that a funder will certainly give to projects that can reach thousands of individuals. However, if the activities associated with the program will prevent staff from functioning and performing effectively, then the grant money can do more harm than good.
Moreover, the availability of grant money can also urge non-profit organizations to extend their services to a certain degree not covered by their expertise. For example, a daycare grant can attract the attention of agencies and organizations providing after-school programs for school-age kids. The lack of necessary expertise, not to mention facilities, equipment, and resources can prevent their organization from running the program effectively. In the long run, they will have to return the grant money unspent; thus, ruining their credibility with a funder.
Therefore, care should be practiced when analyzing your needs. Be sure that you will only get funding for manageable and plausible programs within your expertise. Moreover, time value is quite important in this process. Aside from the grant preparation and application itself, activities incorporated for each program require focus and attention. Grants are also more likely to be given for one-time projects or for starting programs that don’t require continuous funding to be able to sustain their operation.
On the other hand, if you know (as a fact) that you can’t handle the project, then this grant might not be for you. Also, if the project will require additional funds to keep the project running or you are overwhelmed with work, then you might consider applying for their next grant cycle. Better yet, apply when you are completely ready. Your reputation as a non-profit is not worth risking for a hundred dollars when you can, in fact, get bigger grants than that.
It’s really exciting and fulfilling to get funded for your program especially if you are so devoted to it. But still, you have to consider the factors that can affect your performance and how you can get things done. After all, it’s better to think twice before grabbing that grant money.
