Grant Funding Sources and Strategies
Expert-defined terms from the Certified Professional in Grant Management in Nonprofit Organizations course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
Acronyms #
abbreviations formed from the initial letters of other words. In the context of grant funding sources and strategies, acronyms such as CPGM (Certified Professional in Grant Management) and NSF (National Science Foundation) are commonly used.
Advisory Board #
a group of individuals who provide strategic guidance and support to an organization. In the context of grant funding, an advisory board can help identify potential funding sources, review grant proposals, and provide feedback on the organization's grant strategy.
Application #
the process of requesting funding from a grant-making organization. The application typically includes a written proposal, budget, and other supporting documents.
Budget #
a financial plan that outlines how grant funds will be used. A well-prepared budget is essential to a successful grant application.
Capital Campaign #
a fundraising campaign focused on raising a large amount of money for a specific project or purpose. Capital campaigns often involve grant funding as a significant source of support.
Collaboration #
working together with other organizations or individuals to achieve a common goal. Collaboration can increase an organization's chances of securing grant funding, particularly for large or complex projects.
Community Foundation #
a type of grant-making organization that supports a specific geographic area or community. Community foundations often have a broad range of funding priorities and can be an excellent resource for nonprofit organizations.
Corporate Giving #
grant funding provided by for-profit corporations. Corporate giving programs often focus on supporting causes that align with the corporation's values or business interests.
Direct Costs #
expenses that are directly related to a specific project or activity. Direct costs can include salaries, supplies, and equipment.
Donor #
an individual or organization that provides financial support to a nonprofit organization. Donors can be individuals, businesses, or grant-making organizations.
Federal Grants #
grant funding provided by the federal government. Federal grants often have specific eligibility requirements and may be highly competitive.
Foundations #
independent, non-governmental organizations that provide grant funding to support specific causes or issues. Foundations can be private or community-based and often have a specific focus area or mission.
Grant Management #
the process of overseeing and administering a grant, from application to closeout. Effective grant management is essential to ensure that grant funds are used efficiently and in compliance with grant requirements.
Grant Proposal #
a written request for grant funding that outlines the project or activity to be funded, the budget, and the expected outcomes. A well-written grant proposal is essential to securing grant funding.
Grant Writer #
an individual who specializes in writing grant proposals. Grant writers can help nonprofit organizations identify potential funding sources, prepare grant proposals, and manage the grant application process.
Indirect Costs #
expenses that are not directly related to a specific project or activity but are necessary for the overall operation of the organization. Indirect costs can include rent, utilities, and administrative salaries.
Letter of Inquiry #
a brief letter that introduces an organization and its project or program to a potential grant-making organization. A letter of inquiry can be used to determine if a grant proposal is worth pursuing.
Logic Model #
a visual representation of a program or project that outlines the inputs, activities, outputs, and outcomes. A logic model can help organizations plan and evaluate their programs and projects.
Matching Funds #
funds that an organization must provide as a requirement for receiving a grant. Matching funds can come from other grants, donations, or the organization's own resources.
Peer Review #
the process of evaluating grant proposals by experts in the field. Peer review is a common practice in grant-making organizations to ensure that grant funds are awarded to the most deserving and qualified applicants.
Private Foundations #
grant-making organizations established by individuals, families, or corporations. Private foundations typically have a specific focus area or mission and may have more flexibility in their grant-making decisions than public foundations.
Proposal Development #
the process of preparing a grant proposal. Proposal development involves researching potential funding sources, gathering information about the project or program, writing the proposal, and preparing the budget.
Public Foundations #
grant-making organizations that receive their funding from the public sector, such as government agencies or public charities. Public foundations may have more strict eligibility requirements and grant-making procedures than private foundations.
Restricted Funds #
funds that can only be used for a specific purpose or project. Restricted funds are typically received through grants or donations and are subject to specific terms and conditions.
State Grants #
grant funding provided by state governments. State grants often have specific eligibility requirements and may be focused on supporting causes that align with the state's priorities.
Subaward #
a grant or contract awarded by a primary recipient of federal funding to a secondary recipient. Subawards are common in large or complex projects that require collaboration between multiple organizations.
Sustainability #
the ability of a program or project to continue operating after grant funding has ended. Sustainability is an important consideration in grant-making decisions, as grant-making organizations want to ensure that their funds are being used effectively and efficiently.
Unrestricted Funds #
funds that can be used for any purpose. Unrestricted funds are typically received through donations or general operating support grants.
Volunteer #
an individual who donates their time and skills to support a nonprofit organization. Volunteers can play an important role in securing grant funding, particularly in the proposal development process.
Waiver #
a request to waive or modify a grant requirement or term. Waivers are typically granted at the discretion of the grant-making organization and may be subject to specific conditions or limitations.
Work Plan #
a detailed plan outlining the activities and tasks necessary to complete a project or program. A work plan is an important component of a grant proposal, as it demonstrates the organization's ability to effectively manage the grant funds and achieve the desired outcomes.
Youth Development #
programs and activities focused on supporting the growth and development of young people. Youth development grants are often highly competitive and may require collaboration with other organizations or community partners.