Last week’s column focused on six basic things you should know before writing a proposal. With this column, we address three more nuanced things to consider.
Some nonprofits create a “boiler plate” proposal and send it out to as many foundations and corporations as possible, hoping to “get a hit.” That’s one strategy, and sometimes it is appropriate. Making small modifications to a standard proposal is efficient, particularly when seeking to secure sponsorships and smaller grants. In general, we suggest a more targeted approach.
Here are three things to consider:
- What percentage of your revenue do you project will come from foundations or corporations? We recommend building diverse revenue streams. This is important for long-term reasons such as having other revenue streams should foundation/corporation giving contract. A shorter term reason to diversify your revenue is that it signals financial health to foundations who are reviewing your proposal.