In these turbulent economic times, small charities are looking for new ways to raise the money they need to survive.
One source of funds they are often reluctant to pursue is large trusts and foundations such as Big Lottery and Comic Relief in the UK and the Ford and Gates Foundations in the USA.
But sometimes these overlooked resources can be a vital part of a diversified fundraising programme.
Usually the reason for not approaching these larger trusts and foundations is the amount of paperwork required for the application and reporting.
This is a justifiable objection.
Even the 'simple' Big Lottery small grants programme has an application that is almost ten pages long.
It requires a level of budgeting skill and professional writing that many small and new charities may lack.
While they do run some training events for applying, these are limited.
BUT if you have an expansion project that requires five to ten thousand pounds then these forms and the effort may well be worth it.
These large trusts can provide seed money and improvements that would be beyond your means from any other income stream.
Use them wisely.
Because of stricter IRS guidelines, large foundations such as Gates and Ford Foundations are generally beyond the pale of small charities in the US.
Having said that, you may be able to partner with or sub-contract from organizations, who do receive those funds.
Often times, these funds will be granted to regional organizations with the remit to distribute them at the local area.
You will know this by the wording such as...
provided in part by a grant from the XYZ Foundation.
The good news is that these intermediaries bear the burden for the reporting.
But you may still find a strict level of reporting that will challenge your capacity; in order for them to meet their reporting standards.
But again as with the UK, it may be worth it if the amount is large enough and your need great enough.
In either case, it is worth the effort to investigate what is available.
But never, ever, never rely upon these types of funds to provide your services.
They take too long to make a decision and have too high a refusal rate.
Use them strictly like a Fairy God Mother...
to get the ball gown that you could never have otherwise, but could live without if you had to.
One source of funds they are often reluctant to pursue is large trusts and foundations such as Big Lottery and Comic Relief in the UK and the Ford and Gates Foundations in the USA.
But sometimes these overlooked resources can be a vital part of a diversified fundraising programme.
Usually the reason for not approaching these larger trusts and foundations is the amount of paperwork required for the application and reporting.
This is a justifiable objection.
Even the 'simple' Big Lottery small grants programme has an application that is almost ten pages long.
It requires a level of budgeting skill and professional writing that many small and new charities may lack.
While they do run some training events for applying, these are limited.
BUT if you have an expansion project that requires five to ten thousand pounds then these forms and the effort may well be worth it.
These large trusts can provide seed money and improvements that would be beyond your means from any other income stream.
Use them wisely.
Because of stricter IRS guidelines, large foundations such as Gates and Ford Foundations are generally beyond the pale of small charities in the US.
Having said that, you may be able to partner with or sub-contract from organizations, who do receive those funds.
Often times, these funds will be granted to regional organizations with the remit to distribute them at the local area.
You will know this by the wording such as...
provided in part by a grant from the XYZ Foundation.
The good news is that these intermediaries bear the burden for the reporting.
But you may still find a strict level of reporting that will challenge your capacity; in order for them to meet their reporting standards.
But again as with the UK, it may be worth it if the amount is large enough and your need great enough.
In either case, it is worth the effort to investigate what is available.
But never, ever, never rely upon these types of funds to provide your services.
They take too long to make a decision and have too high a refusal rate.
Use them strictly like a Fairy God Mother...
to get the ball gown that you could never have otherwise, but could live without if you had to.