To qualify and be competitive for grant funding as a Charitable Nonprofit Organization you must meet several requirements. Please note, this list is general requirements. Funders may have requirements beyond these items. For example, some funders only fund programs within certain geographic service areas.
- Tax Status
- You have applied to the IRS and received a 501(c)3 Exempt Determination Letter.
- Organization
- Your organization is governed by a minimum of 5 voting board members.
- Your Board meets at least three times annually
- Your Board has adopted a mission statement which articulates your agency’s philosophy and values.
- Your Board has adopted bylaws.
- Your Board of Directors is actively involved in Capacity Building (fundraising).
- Budgeting
Your organization has a Budget that includes:
- Current Year
- Two Years Out.
- You have prepared your Financial Statements.
- If over $250,000 revenue a review by an accountant meets the requirement.
- If your revenue is over $500,000 your financial statements must be audited.
- Annual Report
- You Prepare and Publish an Annual Report.
- Donations
- You Accept In-Kind Donations and acknowledge gifts.
- Volunteers
- You have a Volunteer Coordinator, Volunteers, and Volunteer Training Program.
- You keep records of general and professional volunteer hours contributed.
- Capacity building
- You have developed an Annual Campaign Mailing List of Individuals, Professionals, and Corporations and acknowledge gifts.
- Establish major donor recognition program.
- Conduct a minimum of one Annual Event Fundraiser resulting in proceeds of $10,000 or more.
- Community Presence
- You have developed and maintained a credible reputation in community.
- Maintain a community presence through Public Relations (Social Media, PSAs, Press Releases, Billboards, Fundraising Events, Annual Campaign).
- Develop strategic plan to “brand” organization.
- You have developed expertise in your program area in your community.
Finally, to be competitive, wait to apply for Foundation and Corporate grants until you have provided services for at least two years. During the first two years perform capacity building through:
- Fundraising Events
- Major Donor Campaigns
- Annual Fund Campaigns
- Establishing an Endowment Fund
If you have not reached these milestones you are always welcome to reach out to us for support and consultation as you continue to grow and establish your agency. We can help guide your agency so that your grant applications are competitive and meet funder expectations.
Will Taylor Consulting LLC 