Grants can provide valuable resources for organizations to carry out projects or provide services they otherwise would not be able to.
It is important to remember, however, that grants are competitive. A lot of time and preparation are required to find grant opportunities, plan a project, and then develop a proposal.
You should have a realistic understanding of the grant process and of the time and resources required to submit a competitive application. Regardless, grants have many advantages and are a great way to further your organization’s mission.
Here are some of the many advantages of grants:
- They can provide significant funds with one proposal
- Funds do not have to be paid back to the grantor agency
- Grants can provide resources to do a lot of important work, such as address a local or national problem, build infrastructure, and perform academic research
- Receiving a grant can be prestigious and give an organization instant credibility and public exposure
- Winning a grant can make it easier to raise money from other government and private sources. After all, success often breeds more success
- A grant may be one of few alternatives available to implement certain projects
- There is no limit to the number of grants an organization can apply for per year.