Hi, I’m Alex Dunn, the Millionaire Grant Lady. I have 15 years of grant writing experience and over $103 million in awards under my belt. I’m excited to share with the DFW501c.news audience some tips, tricks and opportunities in Federal Funding.
Government agencies offer many grant opportunities that fund a wide range of work to a wide range of organizations. These funding opportunities often promise much larger awards than private grants.
These grants can be a vital source of funding for organizations but the government grant application process can be daunting. Also, with so many opportunities available, it can be challenging to determine which opportunities are the best to pursue.
So, how do you determine if your organization is a good fit?
1) Are you eligible? And who else is eligible?
Federal grants each come with a specific set of eligibility requirements. When considering eligibility, make sure that your organization is eligible to apply, but also consider who is ineligible to apply. When a grant limits the range of applicants, this can ultimately improve your chances of winning this grant because it limits the number of types of competitors.
2) Could you meet the requirements and do all required activities with funding?
Each grant announcement will have in-depth information about the purpose of the grant funding. Read the entire announcement. Pay careful attention to sections with names like “Required Activities.” If you do not complete the required activities, there could be penalties, including repaying the grant amount.
Consider:
- If you receive this grant amount, would this provide the financial support you need to complete the work that is required?
- Does your organization have the capacity to complete the required activities?
If you can answer yes to both of the above questions, then the federal grant opportunity could be a good fit for your organization.
3) Is this work you want to do?
As you read the funding announcement, paying careful attention to the required activities, you need to consider how closely these activities fit with your organization and your mission.
Sometimes, the grant funding will directly support work you are already doing, or it will support work that you want to do that is related to work you are already doing. This will be a benefit to you in the application process because you will have the opportunity to use existing data from your program to demonstrate your capacity to deliver the required services. As long as you can satisfy all the requirements of the grant, including match and required activities, I highly recommend applying for every federal grant that directly supports work you are already doing or that you want to do.
However, if the grant funding is for work that you are not doing and that you are not interested in doing, then save your time, energy, and resources for a better opportunity that complements or supports your organization’s goals and growth.
4) How many awards will be distributed?
Each federal RFP typically includes a statement about award floors, award ceilings, total award amount, and projected number of awards to be distributed. The lower the number of awards provided, the more intense the competition for grant funding will be. As a general rule, I do not recommend applying if the RFP will be giving out three or fewer awards.
5) Can you meet match if it is required?
Some federal grant awards require that the organization come up with matching funds that either equal the total grant amount or equal a percentage of the grant amount, i.e. 80%. This information will be outlined in the grant announcement.
Generally, match funding can come from a variety of sources, including in-kind donations, private foundations, individual donors, or the organization’s own funding. Match funding cannot come from any federal source, i.e. ARPA funding that trickled down to the local level. In order for a contribution to count as match funding, it must be used to support the same work the federal grant is supporting.
If you cannot meet the match requirements, then this RFP is not a good fit for you. While some grants allow you to submit an application for a waiver for match funding, organizations should not plan on receiving a waiver. Actually receiving a waiver for match funding is exceptionally rare.
6) Do you have the time and expertise needed to submit the grant? Or can you partner with an expert?
Many federal grant RFPs are posted six to eight weeks before the deadline, which is a relatively quick turnaround for many organizations. If you do not have the time or resources to complete a federal grant application, consider who you could partner with.
Talk to your board. They may have relevant experience and be willing to help. Talk to your team. What do they know, and how can they help? Go to the internet. There are many online resources for this. Seek outside expertise and support if needed.
Federal grants offer valuable opportunities for organizations doing mission-driven work. By carefully assessing eligibility, evaluating opportunities, and tackling the application process, you can maximize your chances of success and secure vital funding to support your organization’s mission and goals.
Thank you for the good work you are doing to better your community. It is my hope that these tips will help you feel more confident as you seek new funding from federal sources.
note: Millionaire Grant Lady is a sponsor of DFW501c.news. This article however is not paid content
