Find the Right Grants and Learn How to Standout with Funders w/ Meredith Noble

In Meredith Noble's workshop, she introduced the Grant Prospecting Funnel, a critical tool for streamlining the grant selection process. This funnel helps narrow down a vast pool of grants to those with the highest likelihood of success.

Stage 1: Setting the Search

Initially, you should aim to identify over 100 potential grants using tools like Instrumentl, ensuring a broad scope of opportunities.

Stage 2: Narrowing Down to Top Prospects

From the initial list, narrow down to 20-30 grants that merit closer examination. This step involves deeper research into the specifics of each grant.

Stage 3: Final Selection of Grants

Ultimately, select the grants that align best with your organization's goals and have the highest chances of success. This stage requires careful consideration of each grant's details.

Meredith emphasizes the importance of strategic planning in grant applications. She compares the process to arranging dominoes - the grants should be in the right order to create a cascading flow of wins, indicating the importance of timing and sequence in applications.

Key elements of this approach include:

• Identifying the Right Sequence of Grants: Start with grants that have higher chances of approval or require a smaller scope, gradually moving to more ambitious ones. This builds a track record that can bolster your credibility for larger, more competitive grants.
• Understanding Timing and Project Alignment: Assess the timing of each grant in relation to your project's lifecycle and organizational goals. Noble emphasizes the importance of aligning grant applications with project phases, ensuring that each grant supports a specific stage of your project.
• Strategic Use of Early Wins: Use early grant successes to leverage more significant opportunities. Initial wins not only provide funding but also validate your project and organization, making future applications more compelling.
• Leveraging Relationships and Feedback: Noble suggests using the insights gained from early grant applications to refine and improve future applications. Building relationships with funders during this process is also crucial, as it can provide valuable feedback and open up new opportunities.

Grant research is a multi-faceted process involving several critical stages:

Initial Research

This involves setting up a broad search to identify a large pool of potential grants.

Evaluating and Shortlisting

Narrowing down the list to grants that align closely with your organization's objectives and have a realistic chance of success.

Finalizing Grant Selection

Choosing the grants to apply for, based on a detailed evaluation of each grant's requirements and potential ROI.

Evaluating grants and selecting the right ones for you is a nuanced process:

Assessing Giving Priorities

Understand the funder's priorities and ensure they align with your organization's mission.

Determining Project Eligibility

Ensure that your project meets the eligibility criteria set by the grantor.

Reviewing Funding History

Look at the grantor's past giving behavior as an indication of their future actions.

Assessing your competitiveness for a grant involves a careful analysis of several factors:

• Calculate the Funding Success Rate: Determine the ratio of awarded grants to the total number of applicants. This gives a basic idea of your chances of success.
• Examine Past Giving Behavior: Review the funder’s history to understand their typical grant size and preferred project types.
• Geographical and Sector Preferences: Some funders have specific geographical areas or sectors they prefer. Ensure your project aligns with these preferences.
• Understand the Funder’s Priorities: Make sure your project resonates with the funder’s priorities and mission.
• Contact Past Applicants: Reaching out to past applicants can provide insights into the funder’s process and their receptiveness to projects like yours.
• Draft Inquiry Communications: Consider sending inquiry emails to funders to gauge their interest in your project and get a sense of competitiveness. Use polite and concise language to seek information about application success rates and preferences.

Finally, Meredith discusses the importance of a 'Power Prospectus' and a 'Tangible Transformation Sentence'.

• Power Prospectus: This is a concise, one-page document that encapsulates your organization's mission, the specific problem you address, your unique approach, the cost of implementation, and the anticipated impact. It should be clear, concise, and compelling, providing a snapshot of your organization and project to potential funders.
• Tangible Transformation Sentence: This is a succinct sentence that clearly defines who you serve, what you do, and the specific problem you solve. It should be punchy and straightforward, immediately conveying the essence of your work. For instance, “Our program helps low-income families gain access to affordable housing, enabling them to live in safety and dignity.” This sentence should be specific, avoiding generic language, and directly address the core of your mission.