Creating a Successful Grantfunding Plan

How to write grant funding proposal in 2024?

Your grant funding plan is like a map that shows where the money for your programs will come from over the next two years. A few years ago, organizations used to plan for three to five years ahead, but now it’s better to focus on a two-year plan.

This shorter timeframe helps you adapt to changes in the economy and shifts in funding priorities. If you already have funders who regularly support your organization, they usually decide quickly.

For example, if you’ve successfully carried out your program goals before, you might get the funding check within six months of your request.

However, if you’re reaching out to new funders, the process might take longer. Building relationships with them can mean waiting over a year for a decision. So, you need to keep track of when funds are expected and not base your budget on money that won’t arrive for a year or more.

Your grant funding plan should include a strategy for different types of funding sources, including grants from various funders. In the following sections, you’ll learn about the key parts of a grant funding plan, see an example, and get a checklist to keep your plan organized and effective.

Understanding the Parts of a Funding Plan

A grant funding plan is like a checklist that helps you keep track of your funding needs and sources. It’s usually set up in a table format with these key parts:

1. Program, Service, or Activity: Write down the programs, services, or activities your organization wants to fund. These should match your organization’s goals.
2. Funding Source: List the organizations or people you plan to ask for money. You should try to contact several sources for each program, rather than relying on just one.
3. Address, Telephone, Email, and Website: Include the contact details for each funding source. This way, you can easily reach out to them or find more information online. Having these details helps you quickly send inquiries or follow up if needed.

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In your grant funding plan, you need to keep track of several important details:

1. Contact Person/Title: Find out who the right person is to contact at the funding organization and what their title is. Check the funder’s website or call them to confirm this information. If the person’s name could be used for both men and women, ask how they prefer to be addressed.
2. Request: Write down the amount of money you are asking for in your grant request. Check the funder’s guidelines to see their typical grant amounts. If it’s your first time applying to this funder, ask for an amount on the lower end of their range.
3. Application Deadline/Giving Cycle: Note the deadlines for when you need to submit your grant application and when the funder will decide on grants. Some funders only accept applications once a year, while others may have multiple deadlines throughout the year.
4. Assigned To: Record the names of the board members or staff who are responsible for contacting the funder. This helps keep track of who is managing each funding relationship.
5. Status/Results: Track the progress of each grant request here. For example, you might note when you contacted the funder, when you submitted the application, or if the funding was declined. This helps you keep a clear record of what’s happening with each request.

Updating critical funding plan information

To keep your funding plan effective, you need to continuously update the “Status/Results” column. After meeting with potential funders, note their level of interest and record the next steps, like whether you should apply now, wait until next year, or if they aren’t interested. Here’s how to keep your funding plan active:

• Write it down: Make sure to document your funding ideas. Use templates and share them with everyone in the meeting so that everyone is on the same page.
• Use it daily: The funding plan should guide your organization on which programs or services to prioritize for funding and the best way to secure that money.
• Keep it updated: Each time you apply for a grant or get a response, update the Status/Results column. Track whether you got the funding, the amount, or why your application was denied.
• Review it every year: Both your organization’s needs and the funders’ priorities can change, so it’s important to revise the plan regularly. For example, just because funding is available for after-school programs this year doesn’t mean it will be next year. Adjust your plan based on what funders are focusing on.

Keep your funding plan flexible. Funders often shift their priorities, and the needs of the people you’re serving may change too. Be open to reviewing past reports or program results and stay aware of new community assessments. When things change, update your plan by adding or removing programs or services as needed, and make sure these updates are included in your revised plan.