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Grant Target Sources For Future Funding

Written by admin on 19 April 2011

Target Sources For Future Funding

In general, foundations usually do not fund projects 100% nor will they make long-term commitments for proposed projects. They want to know the other sources of funding a company/organization will have upon the conclusion of their grant. In this section, it is a must to list down your other sources of funds as well as the amount of funds acquired from each. All grant making agencies want to see that projects will continue even without their support.

Budget Proposal:

This section has the detailed budget proposal for a project. The budget proposal usually separates the administrative from operational costs. All grant making agencies have very different formats for the budget proposals. Some provide their own budget forms while others require specific formats. In the budget proposal, you must include al projected expenses (excluding miscellaneous costs) for the proposed project.

Strength of the Project and Organization:

This section must establish the credibility of the company/organization and the strength of the proposed project, it should mention the number of board members and key personnel complete with their qualifications and achievements. The involvement of the members of the board in the project shall also be included in this section. Cite the nature of the project, its purpose, how it came about and the benefits it will have to the community.

Conclusion:

This is a brief summary of the entire grant proposal. It states the need for the proposed project and its contribution to the affected community. It should mention the sources of the funds and its use.

Appendices:

This contains additional attachments as required by the grant making agency. This normally includes the following:

Verification of tax-exempt status (IRS determination letter)
Certificate of Incorporations and By-Laws
List of Officers and Board of Directors
Financial statements for last completed fiscal year (audited, referred)
Current general operating budget and special project budget (if applicable)
List of clients served (if applicable)
List of other current funding sources and uses
Biographies of key personnel or resumes (if requested)
A limited number of support letters or endorsements
Commitment letters from projects/programs consultants or subcontractors (if applicable)
Diagrams for equipments or schematics for building requests. (If applicable)

Important Financial Documents:

(Attached to a Grant Proposal)

Just like in a profit–oriented company, the grant proposal must come with a complete set of financial statements. This is a very important requirement of every foundation, grant making agency, or government agency as they make a thorough review of grant applications.

After the grants have been awarded, the financial statements will be used as basis to evaluate the overall performance of grant seekers. Likewise, this will help the organization to make a better financial projection in the future. And more importantly, the financial statements will be needed to comply with government requirements for exemptions or tax payment applications.