Dos & Don’ts
Funding Tips
Most grants are a form of restricted funding. You write an application and if successful, the funding must be spent on a specificed programme of activity or an agreed set of resources. Depending on the size of the grant, you may have to provide a detailed budget to the funder, as well as evidence of expenditure, a programme evaluation, and regular progress updates. You will probably have to sign a grant agreement or contract.
Grants can be used in a wide number of ways, to support research and development, help build capacity or establish new activities which over time could become self-financing. You may need Capital Funding if you need tangible items for your organisation such as buildings, vehicles or equipment. You may need Revenue funding which can include your general running costs. Below are our top 5 tips for groups who are about to embark on their first application.
Top Tip 1
You need to prove why funding is needed and why it is a good idea. Some of the ways in which you can do this is by consulting with your end users, running focus groups and surveys. You can also evidence the why by providing statistics that show the area is in need of your project.
Successful open days or tasters/pilot programmes are also a good way to show that your project is needed. The more appealing you can make your need sound, the more likely the funder will consider your application. The use of stories in particular can be very powerful also.
Top Tip 2
Understand what an outcome is. Simply put, an outcome is a result of what your project does. It’s a change that happens, rather than an activity or service you provide. Examples of outcomes include improving self-confidence, wanting different people to bond together and reducing social isolation.
Top Tip 3
What happens when your project ends? Many funders are keen to learn more about your exit strategy or the ongoing sustainability of the project.
Sometimes it is enough to run as a standalone project, but when they want you to consider sustainability some of the answers you can explore include: exploring new funding and fundraising options, signposting users to other services, starting to charge for the service, upskilling inhouse staff to deliver the sessions making the project more sustainable.
Top Tip 4
Pick up the phone and speak with funders. You will learn a lot of about the current opportunities they have. They may also be able to offer you advice where on which fund would best suit your organisation potentially saving you a lot of time that would have been otherwise wasted.
Find out if they have any online sessions and ensure you take notes. Quote their language back at them in your application form.
Top Tip 5
Network! Attend voluntary sector events and exchange details with funders, sign up with a range of charity support groups. The more you network, the more you will learn about funders and the world of funding. Ultimately, it will increase your chance of securing funding for your organisation.