Why a Funding Plan?

A constant stream of funds pouring into your program or agency. If this sounds like a dream, chances are  you have not developed a strong funding plan. What is this fountain of potential money? It is a well thought out strategy for targeting potential funders.

A funding plan starts like a business plan. Outline your needs. Are you struggling just to keep the roof over the program or are you ready to expand. Put definite dollar amounts down. Know how much and how often each item needs to be funded.

Recognize that most grants prefer to fund program. Only a few will support administrative costs or capital funds such as building costs. In your funding plan look at each line item and pinpoint how it is going to be paid for. Do you have consistent donations or charge fees.  These items that are already covered are static. They can be set aside.

Separately record all the items that need grants in order to continue. This will be the crux of the funding plan. Include new programs or items that you wish you could fund. You never know what grant applications will show up and one might be perfect for the new program.

Each need will now be identified with a companion dollar amount. Select each and begin your grant search. Use the need as a key word in deciding the if the application matches. Use the need as a starting dollar amount. Notice if the application and the need amounts match.

If the grant amount is too low you will want to find more than one grant to apply for. This is an excellent idea even if the amounts match. Today grant competition has become fierce. You may not get the grant that you were counting on. By applying for several that will cover the same need you are increasing your chances that you will be successful.

The more grants you write and submit the more likely you are to receive the funding. Consider that some funders may send a smaller amount than your original ask. One agency asked for $30,000. They justified this amount in the budget sections of the application but the grantee only awarded the agency $10,000. This helped but it will not cover the entire program.

If they wrote for additional grants for the same program the excess $20,000 might be coming in.

Create a gride or spreadhseet to list your grant applications. Each sheet tab should be for a seperate program or need category. For each spreadsheet list the grants applied for; their amounts; deadlines and other information.

There should be multiple grants listed on each spread sheet. Arrange them by the deadlines so that you will be sure to submit at the right time.Use a task management program to assist you with this. 

As you develop your funding plan you will see that grants are due, funds come in, reports and thank yous are required and new needs occur. Add these details to your plan. The funding plan is a living document always growing and constantly requiring attentions.

Follow the steps laid out and get your funding plan started. This simple beginning should start you on a strong proactive approach to obtaining a steady flow of funds. Your agency will discover steady income is equivalent to steady reputable programs. You may find funders searching you out because they have heard of your successes. All started by writing down needs and the way you are going to fill them.