Foundation Grants
What exactly are foundation grants, anyway? Well
, non-profit organizations have budgets, so costs that exceed such budgets become a financial burden. But before an organization refuses a client, they will seek out funds from grants. Non-profits that qualify for non-profit status under 501(c) can choose how to from a variety of ways to obtain their funding and one of the best options is to apply for a foundation grant.
Foundation grants are grants awarded by a charitable trust or by non-profit corporations to other unrelated non-profits. These organizations are generally well known entities, corporations, families and/or trusts that make funds available to meet the financial needs of the non-profit organizations, including educational, cultural, scientific, medical, research, etc; plus enjoy the lovely tax breaks that come with it. Public grants are a little bit more sporadic as they appear and then disappear with the availability of public funding. Private grants, on the other hand, have a history of being reputable due to their availability year after year.
Foundation grants are also available thanks to wealthy corporation, family/estate or business that are giving to a certain cause. These grants are also considered private foundation grants. Most often you can recognize a private foundation grant because it will carry the name of a well known person, family, business or corporation. One such example of a private foundation grant is the AT&T Foundation.
It is not difficult for an organization to be successful in receiving the foundation grant they have applied for. It is, however, a wise decision for an organization to hire a Grant Writer with a proven track record that can help you compose your applicant essay and tweak your application. These grant writing organizations can also help you find foundation grants that you never would have found otherwise. They have large resources that use a variety of methods including online research, networking, as well as calling corporations and organizations to inquire about potential foundation grants.
Federal grants are often guided by deadlines. Most federal grants have fall deadlines, so non-profits that may have missed an announcement for a federal grant they would have qualified for are able to turn to foundation grants that are usually announce at least twice a year. Most non-profits focus on federal grants so much that they miss the opportunity for grants from foundations. Foundation grants are a fantastic option for a non-profit in obtaining funding. As the advantages of foundation grants become more widespread, non-profits will be better able to raise their budgets by applying for those grants that will assist them and their clients.
by: Jason Ciao
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