Grants have been available since the 1800’s when it was required that states be given 5 percent of the net proceeds of land sales within their boundaries, with a percent of these proceeds to be used for “learning” or higher education. Over the years grants have expanded and are now available for numerous purposes. Grant programs are available through Federal, State and local funding and also through nonprofit organizations.
Over the years working as a grant writer, I have seen grants available for a wide range of projects. This includes some common programs such as after-school care for at risk youth, development of community centers, and preservation of historic locations. However, I have seen my fair share of “unusual” grant programs including solutions for homeless horses in Utah, off-road vehicle safety training, and planning shellfish hatcheries. And yes, those are all real grants.
The availability of funding opportunities is constantly changing, which makes is increasingly harder for organization’s to determine what might be available for their needs. Clients typically ask me, “Is there a grant for my project?” The answer is not simple due to the complexity of grants and my answer to clients is usually “It depends.”
There are many factors an applicant must be aware of when they are interested in pursuing grant funding. Below is a quick summary of our top tips for those interested in apply for funding.
The single most important factor of grants involves the applicant’s eligibility. Prior to beginning any work on a grant application, the organization must determine whether they are even an eligible applicant. This can be easily completed by reading through the notices that are published with the grant materials. Many applicants overlook this step and apply anyway with the thought that the granting organization will still want to hear about their project.
Perhaps one of the trickiest aspects of applying for funding revolves around the timing of both the project and the grant program. Many federal and state grants have set due dates, with applications only being accepted during open funding periods. These due dates may not be convenient for the applicant and could even prevent them from applying. Many grant programs do not allow applicants to begin work on their project until after the grant agreement has been signed, usually months after the grant was submitted. Applicants may decide that they want to pursue their project regardless of funds because of the stifling nature of the timing of a program.
I cannot tell you how many people tell me they want to apply for “free money.” The truth is that very few grants are really “free.” Grant programs typically have a cost match component involved, which means that the applicant is required to match the grant funds. The amount required varies greatly depending on the grant agency, but I always tell my clients to plan on having to match at least 25% of the grant funds.
With so many available grants, it can quickly become overwhelming for those looking to receive funding. At Prosperity, we strive to inform our clients about the possible funding opportunities available for their project to ensure success. Some clients like to take this one step further and purchase a Funding Search, which a comprehensive, in-depth evaluation of all the possible funding opportunities for their potential projects. Learn more now!