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Checking out different types of grants
ОглавлениеAlmost every grantfunding agency publishes specific types of funding it awards to prospective grantseekers. When you know what you want to use grant monies for, you can evaluate whether your request fits with the type of funding the grantor has available. For example, if you want money for architectural fees related to a historical preservation project, you can skip applying to a grantor that’s only accepting grant requests for small technology-related equipment.
Look long and hard at the different categories of funding offered:
Annual campaigns: Grants to support annual operating expenses, infrastructure improvements, program expansion, and, in some cases, one-time-only expenses (such as a cooling-system replacement).
Building/renovation funds: Grants to build a new facility or renovate an existing facility. These projects are often referred to as bricks-and-mortar projects. Building funds are the most difficult to secure; only a small percentage of foundations and corporations award grants for this type of project.
Capital support: Grants for equipment, buildings, construction, and endowments. This type of request is a major undertaking by the applicant organization because this type of large-scale project isn’t quickly funded. An organization often needs two to three years to secure total funding for such a project.
Challenge monies: Grants that act as leverage to secure additional grants from foundations and corporations. They’re awarded by grantmakers that specifically include challenge grants or challenge funds in their grantmaking priorities. These grants are contingent upon you raising additional funds from other sources. Typically, a challenge grant award letter directs you to raise the remaining funding from other grantors; however, that typically excludes government grants.
Conferences/seminars: Grants to cover the cost of attending, planning, and/or hosting conferences and seminars. You can use the funding to pay for all the conference expenses, including securing a keynote speaker, traveling, printing, advertising, and taking care of facility expenses such as meals.
Consulting services: Grants to strengthen an organization’s capacity can be used to retain the services of a consultant or consulting firm. For example, if you bring in a consultant to do a long-range strategic plan or an architect to develop plans for a historical preservation project, you can apply for a grant to cover these types of expenses.
Continuing support/continuation: Grants additional funds to your organization after you’ve already received an initial grant award from that same grantor. These monies are intended to continue the program or project initially funded.
Endowments: Grants to develop long-term, permanent investment income to ensure the continuing presence and financial stability of your nonprofit organization. If your organization is always operating in crisis-management mode, one of your goals should be to develop an endowment fund for long-term viability.
Fellowships: Grants to support graduate and postgraduate students in specific fields. These funds are typically awarded to institutions and not directly to individuals, with the exception of some international fellowship funders.
General/operating expenses: Grants for general line-item budget expenses. You may use these funds for salaries, fringe benefits, travel, consultants, utilities, equipment, and other expenses necessary to support agency operations.
Matching funds: Grants awarded with the requirement that you must match the grant award with your own monies or with in-kind contributions.
Program development: Grants to pay for expenses related to the expansion of existing programs or the development of new programs.
Research: Grants to support medical and educational research. Monies are usually awarded to the institutions that employ the individuals conducting the research.
Scholarship funds: Grants to eligible organizations seeking to award scholarships to eligible individuals. Remember that when funds are awarded directly to an individual, they’re considered taxable income (that is, the recipient owes taxes on them).
Seed money: Grants awarded for a pilot program not yet in full-scale operation. Seed money gets a program underway, but other monies are necessary to continue the program in its expansion phase.
Technical (consulting) assistance: Grants to improve your internal program operations as a whole (versus consulting on one specific program). Often, this type of grant is awarded to hire an individual or firm that can provide the needed technical assistance.