Deciding Whether to Pursue a Grant
One of my clients recently got notice of $250 worth of funding against a $5,000 ask. It is the second time we’ve applied to this particular funder; they weren’t awarded anything the first time. While $250 is better than $0, how much funding is worth our time? Should we pursue the grant again next year, hoping the funder might eventually notice us and give more funding? It got me thinking: how do you decide whether to pursue a grant?
I already did a series on whether grants are worth your time and how important it is to evaluate the goals of your grant program, confirm your program or project is fundable, ensure your team is ready to apply for grants, and understand the full scope of funding mechanisms available to you. But let’s say you’ve checked all those boxes and have two grants due on the same day but the staff capacity to pursue one. How do you decide?
Funder due diligence
First, make sure you’ve done your due diligence on the funder, whether by reviewing their 990-PF or completing a close review of the grant guidelines and the funder’s website. I harp on this a lot, but can you confirm (1) geographic fit and (2) programmatic fit? As in, does the funder give money in your geographic area and to programs/projects like yours?
Once you’ve done this legwork, it’s vital you or your appropriate staff member reach out to the funder. Not only will a phone call or email initiate a relationship, but it may also reveal to you priorities the funder doesn’t post publicly. Tell the funder’s trustee or staff member what it is you’d like to use for your application and then listen to them! I can’t stress this step enough. No matter what you think of your program, if a funder says they won’t support it or they don’t think it’s a competitive fit: move on.
Sometimes, funders won’t be transparent. Sometimes, you won’t be able to get in touch with them, and you have to use your best judgment. But this step can save you a lot of unnecessary work down the road.
(Re)Assess your staff capacity
Even if you have a great grant team in place, it’s possible that team is overwhelmed with other (sure bet) applications right now and won’t be able to devote the time to this new, untested grant. Maybe the funder is only giving you three weeks with the application. Maybe your CFO is out of the office for two weeks, and you won’t be able to secure the financials you need.
Be realistic in understanding your staff are human. Also, be realistic that a funder will be able to tell if you didn’t put enough work into an application or rushed to get it done to meet a crazy deadline.
Decision matrices
Many grant professionals have worked with their clients or internal teams to create a decision matrix that takes subjective decisions like the ones above and translates them into objective numbers. You can make your own or start with a version you find online (Google served me about 2,000 results when I searched “grant decision matrix”). Decide what makes sense to your team and establish a process.
Your gut feeling
What it boils down to is your own gut feeling about the opportunity. Let’s say you weren’t able to talk with the funder, your staff is free and available to work on the grant, and your decision matrix said it’s a go. But your gut is still telling you it’s not the right fit. Trust it! Spend the time working on a grant you feel better about.
Results not guaranteed
Of course, we can never guarantee what an application outcome will be, even if all your ducks are in a row. There are so many factors out of our control, like the number of applicants, the opinion of that one foundation trustee who really makes all the decisions, you name it. But asking the right questions at the start can help save you time for the grants that you are likely to receive.
What questions does your organization ask before you start on an application? Do you have a decision matrix?
Cover photo by DNY59 on Getty Images