Applying to trusts and foundations for support for your cause, group or charity can be rewarding if carried out with care. Whilst the return on investment can be higher than many of the other forms of fundraising we will explore during this course, it is worth noting that applying to a trust or foundation can be a time-consuming process.
Good research and thorough preparation of tailored applications to each trust or foundation is most likely to result in a successful application, so it is worth putting the time in right at the beginning of the process. Most trusts will ask that you follow their specific guidelines when applying to them. These will include details about when to apply and when decisions are made; in which format you should apply; and what information you need to include in your application. Many will ask for all or a combination of the following:
a full set of annual accounts (or a clear explanation as to why you don’t have them yet, if you are just starting up);
a detailed description of the activity or piece of work for which you are asking for support;
why you think there is a need for this activity or piece of work;
who the activity or piece of work is for and who will benefit in what way;
the outcomes or the results you hope to see from running that activity or implementing that piece of work;
how much you think the activity or work will cost (including a full budget breakdown);
details of who will be carrying out and managing the activity or piece of work;
whether you will be working with anyone else or any other organisations and in what way;
when the activity or piece of work will start, end or be reviewed;
who else may be helping to fund that activity; and finally,
how much funding you are seeking from the trust or foundation you are applying to.
It is best practice to make sure that you have collected and prepared all this information prior to application, so that you will be able to answer all of their questions. Some trusts will ask for a two-side project proposal addressing these questions accompanied by a covering letter or email, whilst others may ask you to complete a paper or online application form.
Remember to tailor every application to fit each trust or foundations’ criteria and guidance. Don’t be tempted to employ what charity sector researchers, Saxton & Wallace (2018), term a “spray & pray” approach, by pulling together a standard application and blanket mailing it to as many trusts and foundations as you can. It is worth remembering that each trust and foundation receives 10’s to 1000’s of applications every year and many are run with little to no staff, so any application that reaches them which doesn’t answer all of their questions runs the high risk of being rejected.
For the most part trusts and foundations operate in largely the same way and the terms are used interchangeably. The differences lie largely in how these entities are constituted and legally defined. However, it may be important to understand whether a trust or foundation is very large and run by a professional staff, or is a small family trust run and administered by family members themselves or a part-time administrator on their behalf.
It is more important to know and understand for what purpose a trust or foundation was established, as this is what will determine what kinds of charities and activities they will fund, and in which locations. It is highly unlikely that applications for activities or causes that fall outside of these purposes will be supported.
Research, therefore, is vital both to determine which trusts and foundations are a match for your cause, but also to establish what the trust or foundation requires from you in order to make its decision to support you. Wherever possible, source a copy of each trust’s most recent guidelines and follow these as closely as possible. This step is especially important at the moment as many trusts and foundations have altered their guidelines in response to the COVID-19 pandemic. These guidelines can be found using some of the directories listed below; trusts and foundation’s own websites or by asking the trust directly for them. If there are no guidelines, undertaking some wider research to find out the trust’s interests and preferences; geographical area; typical size of grant; as well as organisations and projects they have supported in the past will always be useful. This kind of information can be found on trust websites; in trusts own annual and financial reports; via regulatory bodies such as the Charity Commission website search function in the UK or other grant directories and resources listed throughout this course.
Some trusts are quite happy to talk through their criteria and interests with you, will discuss the activity or work you are seeking funding for, and will let you know whether it’s the kind of work they are likely to consider supporting. However, many are very clear that they cannot discuss applications prior to submission. Whatever their approach is, it is worth investing the time and energy into finding out as much as possible about a particular trust and foundation, as this will help you make a strong case for why your cause and activity will help the trust meet their philanthropic ambitions.this article is sponsorship of ENTREPRENEUR LINE
ENTREPRENEUR LINE-WE MAKING A LINE OF ENTERPRENUAR WORLD PRIMIUM PLACE FOR BUSINESS AND LEADERSHIP TRAINING We are the team of the experts with-in depth knowledge of business functions.we aim to provide solutions that can be customised and aligned with our client demands. Entrepreneur line -Use Our Services to Help Your Business Reach the Levels You Want. Call for Details Today!77410 49713
0 Comments