Every Monday as @DorethiaConner & with my co-host, @BenitaTyler, we interview experts during our weekly Twitter Online convo, #MoneyChat, held from 8pm-9pm est. This post pulls the highlights from our #MoneyChat topic on "GRANTS: Getting Money for your Nonprofit or For Profit Business!" We invited grant consultant @AvaRWilliams to shed some light on the subject and boy did she! Ava is the owner of Prembel Grant Writing and Consultants and Author of 'GRANTS DEMYSTIFIED: The Secret To Grant Writing Success in 3 Easy Steps!'
Q1. What is the biggest myth about grants?
They range from the belief that there is no funding available, or that receiving a grant will allow the funder to control the grant recipients activities or to the belief that only nonprofits are eligible to receive grants. Each myth is harmful and prevents individuals, groups, businesses and organizations from receiving the funding and resources necessary to ensure the success of their endeavors.
Q2. What types of grants are available?
There are many types of grants. They include: emergency grants; general operating grants; capital endowment grants; restricted grants; start-up grants; challenge grants; matching grants; re-grant programs; and special project grants. For the sake of simplicity I group them into two main categories: Capacity Building and Project Development Grants. Capacity Building Grants cover everything from salaries to the staples that an organization needs to fulfill its duty. Project/ Program Development grants cover expenses related to specific projects, programs, events, etc that an organization offers.
Q3. What do grants fund?
Almost everything. For example, Travelocity offers a $5000 grant to do volunteer work in Alaska, Brazil, Ghana, etc. The Pay It Forward grant offered by Lisa Richey is a mini grant that can used for anything but flipping real-estate. Blue Cross Blue Shield of MI provides grants to nonprofits to pay for grant writers.
Q4. Are there really grants available for businesses, start-ups, etc?
Yes there are. Of course, non profits have an advantage when it comes to applying for grants. So too do Educators. Business, start ups and individuals will have a lot more success with project/program development grants. For-profits should also look into federal grants. Collaboration is also a way for start-up, businesses and For-profits to increase funding eligibility. There are many options.
Q5. Where and how do people find these grants?
The three major sources of grant funding are: philanthropic entities, corporate foundations and the federal government. Grants.gov is the website for federal grants. The foundation center offers a list of Philanthropic Entities currently accepting proposals. The internet is also a great resource.
Q6. What are your tips for searching for grants online?
To avoid over 8 million results in 0.15 secs it is important to be as specific as possible. Identify key words specific to your interests or the services you provide. Then identify corporations and foundations that are associated with your target audience ( i.e aging = AARP). A link to my article that offers additional tips will be provided.
Q7. Is the grant writing process complicated?
Grant writing is not an inherited genetic trait. You do not need a PhD. The process is generally pretty straight forward. Different funders have different requirements. For example, the application process for the grants mentioned above is pretty simple but less traditional. Most grants require a more traditional proposal- which is not difficult but can be time consuming. Strategy is key.
Q8. How can grant seekers maximize their success?
Every proposal, traditional and non traditional, should be compelling, thorough and emphasize that your proposed activities are aligned with your potential grantors funding objectives.
Q9. Do grants have to be repaid?
No. Your proposal is your word. Grants are not loans. They do not have to be repaid. They are given to fulfill, promote or raise awareness about a specific mission, cause or set of objectives that your funder considers important. Using grant money improperly or failing to provide follow-up documentation will significantly impair your ability to apply for future funding opportunities. You will lose credibility in the eyes of potential donors.
Q10. Do you have any additional resources for grant seekers?
My article on grant writing that was published in Natural Awakening Magazine expands upon and offers additional tips and strategies. Also, check out our upcoming Grant Writing Workshops for February 2011 (Online and Offline)
Want more? Visit Prembel to join the email list for the most recent grant info!
-Dorethia
www.connercoaching.com | Personal Finance & Small Business Coaching
www.connercoaching.com | Personal Finance & Small Business Coaching
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