A Plan for Effective Utilization is Key to Grant Success

It all begins with an amazing project. It’s something you’re passionate about, something that will help your community, and you’re excited to get started. But amazing projects need funding. It follows then, that one of the best ways to secure that funding is with a grant. However, the key to achieving a grant depends in large part on having a plan in place to effectively utilize that funding. GrantWriterTeam understands the value of having the mechanisms in place to help ensure grant success. Let’s look at the qualities needed for this to happen.

 Achieve Grant Success

Your best chance to achieve grant success is to identify the purpose of the grant funding you seek. Next, you should have a solid budget in place. Creating an organizational chart and a timeline are also excellent ideas. Finally, writing a stellar grant is the real capper to this part of the process.

Let’s break it down:

  1. Need: Consider all your expenses and make a list.  You can include things like equipment, salaries, office supplies, utilities, and other operational expenses. It’s imperative that you check with the donor to find out what expenses will be covered.
  2. Budget: Create a list of expenses and put together a solid budget. Consider a budget template. There are several to choose from online. Find one that matches your organization’s specific needs.
  3. Organizational Chart: An organizational chart is a visual representation of your business’ structure. It lays out things like the roles your employees play and their responsibilities. In short it shows donors how your company works as a whole with all of its moving parts.
  4. Timeline: While your grant donor is enthusiastic about your goals, they also want to know how you plan to make use of their grant funds. Building a detailed but flexible timeline is a good solution. It will help you stay on top of spending and demonstrates how the money is used for specific purposes.
  5. Writing the Grant: When it comes to writing the grant application, you can write it yourself, or you can hire a professional. If a grant writer is needed, it’s important to vet your candidates. Among other attributes, look for a writer who is detail oriented, articulate, and experienced. Learn more about this process in the following GrantWriterTeam article, Top 10 Qualities to Look For When Choosing a Grant Writer.

Additional Plan Components: Follow Through and Persistence

  1. Follow Through: It’s important to initiate and maintain a strong connection with your grant funder. In fact, a basic strategy for this involves steps as simple as keeping good records and sending a thank-you note. Keep a meticulous record of all spending related to the grant to demonstrate how valuable the funding is to your company.  In addition, express your gratitude and appreciation for the funding you receive. Beyond that, informing your potential funder of any changes in donor contributions is also a good way to continue to maintain that connection. After all, the receipt of a recent large donation or Letter of Recommendation from a key donor greatly enhances your standing with a funder. Moreover, these steps strengthen your prospects of being awarded a grant in the future.
  2. Persistence: Above all, be persistent. Stay true to your organization’s goals and ideals. This is important to grant success. To that end, pursue grants that fit with your organization’s mission and objectives. Even if there may be setbacks, continue to pursue the goal of grant success for your organization. You can’t win them all, but never give up!
About GrantWriterTeam

Are you a nonprofit or small business in need of some help? If you are searching for grants but are feeling overwhelmed, hiring a grant writer may be the perfect choice for you! Grant writers thoughtfully grant opportunities and consider the pros and cons of applying and the chance of success. Consider your writer an extension of your organization. They will coach you throughout the entire process and curate the project to fit your needs. Your grant-seeking success is our priority at GrantWriterTeam.

                                  Please Note:  Information provided is for informational purposes only. It does NOT guarantee grants will be awarded as a result of this information.