Hi, I’m Alex Dunn, the Millionaire Grant Lady. I have 15 years of grant writing experience and over $125 million in awards under my belt. I offer advice, tips, tricks and opportunities to the DFW501c.news audience each week.
When the government provides grant funding, they often accept applications in response to Requests for Proposals–RFPs. While foundations also sometimes use RFPs, foundation grants more often come through open or rolling opportunities.
An RFP is a formal call for proposals. The funder has a specific funding priority, a defined timeline, and clear criteria for what they want to support. RFPs include specific language like “Seeking projects that advance workforce readiness for youth aged 12-18 in rural communities.” In an RFP, the full instructions will typically outline specifically how and for what funds can be used, precise requirements for the application including font size and submission method, and a rubric that will be used to score the application.
✅ Pros:
- Clear guidance on what the funder wants
- Set deadlines and review process
⚠️ Cons:
- Highly competitive
- Less flexibility in what you propose and how funds can be used
An open grant (sometimes called a rolling or open cycle opportunity) accepts applications year-round. The funder typically has broad goals–like to support education or children–but they fund a wide variety of work within that broad goal. In an open opportunity, the funder keeps the door open for organizations whose work aligns with their broad mission.
✅ Pros:
- You can generally apply anytime
- Flexible in how your work aligns
- Great for ongoing programs or general support
⚠️ Cons:
- Fewer specifics on what they prioritize
- Can be difficult to know what gets funded
So when should you pursue an RFP versus an open cycle opportunity?
If your project fits a specific theme and you can meet the deadline, pursue the RFP. RFPs typically shift according to funder priorities, so if you see an opportunity that is right for you go for it! You miss 100% of the grant dollars you do not pursue.
If your organization’s work generally aligns with a funder’s mission, pursue the open cycle opportunity. This funding is often more flexible and can be used to support a variety of basic costs–like staff, overhead, and fundraising–that are critical to keeping your mission moving forward.
A well-balanced grant strategy often includes both.
