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Your organization is looking for funding. How about a grant?
Grants are a compelling alternative to traditional investment because they 1) are non-dilutive and 2) don't require repayment. There are literally tens of billions of dollars available to nonprofits, small businesses, startups, and schools for philanthropic, economic, and research purposes.
If you're wondering how much $$$ you should apply for, this article will help.
Here are a few factors to consider when determining the appropriate size grants to apply for:
Funding goals: Consider the specific programs or initiatives that you are seeking funding for and the amount of money needed to support them.
Capacity: Think about your organization's capacity to manage and utilize the funds effectively. Larger grants may require more resources and expertise to administer, so make sure you have the necessary infrastructure in place to manage the grant effectively.
Grantor expectations: Research the grantor's expectations and preferences. Some grantors may prefer to fund small, specific projects, while others may be more interested in supporting larger, long-term initiatives.
Funding history: Look at your organization's past funding history to get a sense of the size of grants that you have successfully received and managed in the past. This can help you determine what size grants may be realistic for your organization to pursue.
It's also important to remember that no organization wins every grant. Win percentages vary widely depending on the sector, funder, and applicant quality, but grantseekers shouldn't expect to win more than 50% of the grants they apply for. To maximize your chances of success, read our Beginner's Guide to Winning Grants.
Ultimately, the size of grants that your nonprofit should pursue will depend on your organization's specific needs and goals, as well as its capacity to manage the funds effectively. It's important to be realistic and to carefully consider all of the factors outlined above when determining the appropriate size of grants to pursue.