Where do foundation grants come from? Non-profit organizations have budgets and costs that exceed such budgets become a financial burden. Yet 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 acquire the much needed funding and one of the best options is to apply for a foundation grant.
Foundation grants are grants made possible by a charitable trust or 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. Public grants may be available one year and never heard of again while private grants have a history of being reputable due to their availability year after year.
Foundation grants are made possible because the funds originate from a specific corporation, family/estate or business. These grants are considered as 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 as opposed to independently taking on the challenge with no experience. An organization can find possible foundation grants they may be eligible for in a variety of methods including online research, networking, as well as calling corporations and organizations to inquire about potential foundation grants.
Federal grants have specific grant cycles and most of which end in the fall. 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, more often than not, are 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 an excellent option for a non-profit when it comes to funding sources. As the advantages of foundation grants become more popular, non-profits will be better able to raise their budgets by applying for those grants that will assist them and their clients.