Alden Charles Associates

 

 

Before you go to your next meeting with a potential funder, you'll want to be prepared.  Do your research about the foundation you are about to visit, and do your research about the philanthropic sector.  This is so important.  If you don't do your research about the philanthropic sector at large, then you cannot possibly understand the underlying issues funders face, and the underlying themes of creating a successful relationship with a funder.  This knowledge will help you on your journey to secure a grant.

 

So, what do we know about the philanthropic sector today? 
According to the Urban Center's National Center for Charitable Statistics there are more than 1 million nonprofit organizations the US, and there are more than 900,000 501c3 public charities registered with the IRS.  In Massachusetts alone, there are more than 37,000 nonprofit organizations.  That's a lot of competition!  What do you do?

 

Take a page from The Boston Foundations' groundbreaking June 2008 report, Passion & Purpose: Raising the Fiscal Bar for Massachusetts.  The report sets standards for nonprofits, and those standards are both challenging and, with a little work, attainable.  In order to be successful, your nonprofit must demonstrate:
 
  - Liquidity
  - Sustainability
  - Profitability

 

Do your homework and get your your financial house in order before you approach a foundation for a grant.  Funders are being inundated with proposals that don't meet their criteria for a gift, yet they want to fund worthy, financially stable organizations that perform necessary work in our communities.  Make sure that you are that nonprofit organization.  You'll be assured of starting off on the right foot with funders.