4 Predictions for Successful Grant Seeking in 2022
How can organizations make the most of their grant seeking throughout 2022? By anticipating changes and understanding trends that will define grant seeking in the New Year. Our Grants Plus team has these expert predictions:
#1: 2022 will be a bountiful year for grant seeking
#2: Organizations will see more gifts from diverse funding sources
#3: Funding will more frequently require a commitment to DEI
#4: Prioritizing your grants team will be the key to stable revenues
Be ready to maximize your grant seeking gains in 2022 by learning from our predictions below. Let us know in the comments: what else do you see will be key to winning grants in the year ahead?
2022 will be a bountiful year for grant seeking
In the last year, two-thirds of foundations increased their budgets for making grants. Additionally, payouts from donor-advised funds to nonprofits increased by 27% in 2020 compared to 2019. According to the latest Giving USA Report, foundation giving overall was up 17% in 2020. We predict the upward trend will continue! In the New Year, organizations should resolve to grow relationships with their current funders and cultivate connections with new funders.
Organizations will see more gifts from diverse funding sources
In 2022, donors will increasingly have more ways to support the charities they love. Some of the alternative funding sources we've been keeping our eyes on include grants from donor-advised funds, cryptocurrency contributions, gifts from stocks and securities, and a projected rise in giving circles. Don’t be left behind! If your fundraising and grant seeking plan next year is limited only to “traditional” funding sources, you risk missing out on significant revenue. Take time to increase your knowledge and ready your organization to benefit from new forms of giving.
Funding will more frequently require a commitment to DEI
More funders will continue to require grantees to articulate their organization's vision and strategies for building diversity, equity, and inclusion, and more funders will be likely to deny funds to organizations without a DEI plan of action. Organizations must prioritize making plans and progress to diversify their boards and staff, to incorporate the voices and participation of the communities they serve, and to address not only symptoms but also systems of inequality — not just to be competitive for grant funding but to better fulfill their missions.
Prioritizing your grants team will be the key to stable revenues
Workplaces of all kinds (including nonprofits) have been experiencing “The Great Resignation”: in fact, one in four American workers quit their jobs in 2021. For nonprofits, disruption in teams can mean disruption to fundraising and a drop in revenues. Seeing as the fund development profession is already notorious for burn-out, this means nonprofits should be especially attentive to their fundraising and grants staff in 2022—to make sure they feel valued, supported, acknowledged, and engaged. Remember, “retention” isn’t just for donors! Take good care of your team so they in turn can care for your donors and funders.
Keeping these 4 predictions in mind will help you and your team prioritize your grant seeking efforts in 2022. In need of some extra assistance? Contact us today to learn how our team of experts can help!