June 14, 2022
This aligns closely with Elevate clients’ experience. While many foundations make funding decisions at Board meetings held on an annual, semi-annual, or quarterly basis, others have more flexible review processes that allow them to make funding decisions quickly. We find that well-cultivated opportunities with more progressive, less bureaucratic funders tend to have the quickest turn-around times. However, in most cases you can expect a response to your grant request on a slightly longer timeframe – 4 to 6 months after a proposal submission.
It’s worth noting that having more individuals involved is not necessarily a bad thing – by engaging your finance, programs, executive, and other staff in the preparation of a funding request, you can build an effective culture of philanthropy where everyone sees themselves as playing a role in securing the resources needed to implement your organization’s mission. Further, once the funds are secured, you will already have a team in place that understands the proposed activities and outcomes associated with the grant and that is ready to implement!”
When planning to develop a proposal, you’ll need to allocate time to review the application questions or proposal requirements, collect data, stories, and activities from your team, prepare budgets and other attachments, and write the narrative. And we always recommend allowing time for a thorough review – for strategic alignment, clarity, and basic grammar as well as adherence to proposal requirements. We explore much of this planning process in our FREE How to Write Your First Grant webinar.
However, making an investment of this time and capacity is crucial for the long-term success and sustainability of your grants program. We find that organizations without dedicated expertise (either having grants experts on staff or the advice of an external consultant) and dedicated time (again – internal or external) are far less likely to secure significant revenue from grants. Aside from the time it takes to prepare grants, other challenges nonprofits face in pursuing grant funding include specific funder requirements, competition among peers, and finding well-aligned opportunities. While many of these barriers can be reduced by committing the appropriate resources to your grants program, the bottom line is that building a winning grants program is tough! It takes capacity, expertise, collaboration, hard work, and time to secure funding from grants. Are you interested in learning more about how the grant writing experts at Elevate can help you develop a sustainable and winning grants program? We’d love to hear from you! Reach out to us today to learn more!