Creating a Funding Plan: A Friendly Guide

 Creating a Funding Plan: A Friendly Guide

January 18, 2023Category:

 Creating a Funding Plan: A Friendly Guide

 

  1. Understand Your Needs

– Start by identifying what you need funding for. Is it a new project, an ongoing program, or operational costs? Be specific about your goals and how much money you need.

 

  1. Research Potential Funders

– Look for organizations and grant programs that align with your mission. This might include government grants, private foundations, and corporate sponsorships. Make a list of potential funders.

 

  1. Create a Funding Calendar

– Step 1: List all potential funding sources.

– Step 2: Note the opening and closing dates for each grant.

– Step 3: Set reminders a few weeks before each deadline to give yourself plenty of time to prepare your application.

 

Sample Funding Calendar:

– January: ABC Foundation (Open: Jan 1, Close: Feb 15)

– March: XYZ Grant (Open: Mar 1, Close: Apr 30)

– June: Community Support Fund (Open: Jun 1, Close: Jul 15)

 

  1. Prepare Your Application Materials

– Gather all necessary documents such as your mission statement, project details, budget, and any required forms. Tailor your application to each funder’s specific requirements.

 

  1. Write Compelling Proposals

– Clearly explain your project, its benefits, and why it’s important. Use simple, persuasive language. Highlight your organization’s achievements and how the funding will make a difference.

 

  1. Keep Track of Submissions

– Use your funding calendar to monitor application statuses. Follow up with funders if needed, and note any feedback you receive for future reference.

 

  1. Build Relationships

– Reach out to potential funders even before applying. Introduce your organization and express interest in their funding opportunities. Building a good relationship can increase your chances of receiving funding.

 

  1. Evaluate and Adjust

– Regularly review your funding plan and calendar. Assess what’s working and what’s not. Make adjustments as needed to improve your chances of securing funding.

 

  1. Say Thank You

– Always thank funders for their support, regardless of the outcome. A thank you note can go a long way in building long-term relationships.

 

  1. Stay Organised

– Keep a file of all your applications, correspondence, and feedback. This will make future applications easier and more efficient.

 

Creating a funding plan might seem daunting, but with these steps, you’ll be on your way to securing the support you need.

Good luck!