What is a Grant?
A grant is a fund that is disbursed by one party that is referred to as the grant maker. The grant maker is often a corporation, the government, a trust or a foundation. The recipient of a grant can be an educational institution, a nonprofit entity, an individual or a business. An application or a proposal, called grant writing, is required before a grant is normally awarded. Many grants are structured to fund a particular project.
Developing Ideas for the Proposal
Each grant proposal possesses a particular criterion for submission. Some considerations may involve filling out certain forms, meeting many deadlines, and abiding by certain processes that are specific to the funding entity. A Request for a Proposal (RFP) is what commonly begins the grant-writing process. After the RFP gets approval, then the project’s details have to be worked on in such a way to develop its unique aspects and differentiate it from other entities that are vying for the same funding money.
Community support means obtaining favorable documentation out of as many places as possible. A few examples of these places are professional organizations, academic groups, political entities and lay groups. A grant committee will look more positively on a grant application that has a good number of positive recommendations. A good piece of advice for a grant writer is to search for local support.
Identification of a Funding Resource
Funds that come from a source that is private do not require something called a Dun and Bradstreet number (shortened to DUNS). However, if the funds for a business grant come from a federal source, such a number is needed. It is advisable that an applicant know his or her audience and therefore study the grant entity completely before applying for the grant. One should figure out if lay persons or if scientific people will be examining the grant applicant.
Getting Organized to Write the Proposal
Organization is quite important to writing a successful proposal. This involves putting together all required documents that will be essential in writing the business proposal. If an approval committee is involved, one should be extra organized. This involves brainstorming, retaining detailed notes, and making a point not to discard any notes during the brainstorming process.
Outlining Project Goals
This is to ensure that all the key aspects will be included. Goals should be set and assigned to people involved in the project. Dates for when things should be accomplished should also be added. A successful grant proposal summary will make people read on further and might also be the crucial element in any future project deliberations.
Presenting a Credible Applicant or Organization
Many proposals demand a specific description of the entity that is applying for a grant. Much of this demanded information can be located in an annual report. A piece of advice is to include historical, current and biographical details in the introduction as well as any kind of contact data. Making one’s organization appear as credible and valuable as is possible will help to ensure that there is a positive return on the investment from the granter’s viewpoint.
Stating the Problem/Purpose
Stating the problem or purpose means stating the particulars of why the funds are required for the project. This requires both resources and enough time. One must interview qualified persons who are capable of both justifying and projecting a project’s needs with specificity.
Designing a Plan of Action
Yet another important aspect of the grant-writing process is designing an appropriate plan of action. A plan of action will provide both objectives and goals. These are vital because they lead to a method of getting to the wanted end result of any given project. To do this, divide the plan of action into measurable and manageable steps that can be evaluated easily.
Planning the Budget
Planning the budget involves defining a budget’s approach. This is a step that varies based on the nature of the project. This is significant because obtaining enough funding is based on being very accurate in the planning stages of a budget. Some things to consider are indirect as well as direct costs, that is permitted and what is not by the granting agency, and rechecking the math at least three times.
Additional Grant Resources
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