By Meghan Jacobsen, Grants Development Associate, State & Local Government
In the world of nonprofit organizations, securing funding is often a crucial part of conducting the mission and initiative of supporting communities. While there are various avenues for fundraising, building strong relationships with foundations is a vital component of the grantseeking process. Foundations exist to support social causes, and establishing meaningful connections with them can lead to successful long-term partnerships. If your organization is new to foundation grants, you may be wondering where to start. Here are a few tips to create lasting and meaningful partnerships with foundations, thus enabling your organization to flourish.
1. Do Your Homework
Before reaching out to any foundation, it is essential to thoroughly understand their mission, values, and focus areas. Foundations often have specific causes or issues they prioritize, and ensuring your organization’s goals align with theirs is key. Research their past grants, annual reports, and any public statements to gain insights into their priorities.
Make sure you understand the grant application procedure for the foundation you are interested in, as each foundation has its own unique process. Some foundations may require a letter of intent as the initial step, while others prefer direct outreach for discussions about your organization and intended project prior to applying. There are also foundations that exclusively accept applications through invitation, in which case, building a relationship prior to seeking funding is essential.
2. Build Personal Connections:
Foundations are not just faceless entities; they are run by individuals who are passionate about making a difference. Take the time to build personal connections with program officers, trustees, or other key decision-makers within the foundation. Attend networking events, conferences, and engage with them through social media platforms. Look to your own organization or current partners for any foundation connections they may have and if they are willing to facilitate introductions.
3. Show Your Gratitude
What happens after you have gone through the application process and are awarded funding for your project? This is the perfect time to showcase how the funding has impacted your organization and the community. Take the time to express gratitude and highlight the ways in which the funding propelled your project forward. Providing updates on how their contributions were utilized – beyond any reporting requirements – and the outcomes achieved helps build a sense of continuity and trust. This can be done by sending a newsletter or inviting them to an open house to see their dollars in action.
4. Maintain the Relationship
Building relationships with foundations is not a one-time effort. Cultivate long-term relationships by keeping funders updated on your progress, inviting them to events, and involving them in key decisions. Regularly communicate about the impact of their support and express appreciation for their ongoing commitment.
Building strong relationships with foundations is a strategic and ongoing process that requires dedication, authenticity, and effective communication. By aligning your organization's mission with the values of potential funders and maintaining transparent and open communication, you can increase your chances of securing funding and establishing lasting partnerships that contribute in a positive way to your organization and the community you serve.