Embracing a major gifts approach to grant seeking transcends the transactional nature of traditional grant applications. It fosters deeper relationships and engagement with potential funders, cultivating a sense of shared purpose and understanding. By adopting a more personal approach, nonprofits can better connect with grant makers who are passionate about their cause. Here, we delve into the empirical evidence supporting this strategy and outline how it can elevate your organization’s mission.
A recent study conducted by Grants Plus, analyzing over 650 grant proposals, revealed a compelling correlation between relationship-building efforts and grant success rates. Proposals where the applicant had actively cultivated a relationship with the funder boasted a 1.6X higher win rate compared to those submissions where no such cultivation was attempted. This statistic underscores a fundamental truth in the grant seeking realm: funders are more inclined to invest in organizations they know and trust.
Video: Lauren Steiner, CEO and Founder of Grants Plus, outlines how taking a major gifts approach to grant seeking can bolster your grant funding.
The Power of Relationship-Building
At its core, adopting a major gifts approach is about prioritizing and nurturing relationships with potential funders. This means going beyond the transactional aspects of grant applications to engage in meaningful dialogue, understand the funder’s objectives, and demonstrate how your organization’s work aligns with their goals. It’s a strategy that requires patience, empathy, and strategic thinking, but the potential rewards are substantial.
Strategic Considerations for Your Organization
- Start with Research: Before reaching out, conduct thorough research on potential funders to understand their interests and past giving patterns. This will help you tailor your approach and engage in more informed conversations.
- Engage Early and Often: Don’t wait for a grant cycle to initiate contact. Seek opportunities to connect with funders through events, shared interests, or mutual connections. Keep them updated on your organization’s work and the impact it has.
- Be Transparent and Authentic: Build trust by being open about your successes and challenges. Funders appreciate honesty and are more likely to support organizations that are candid about their needs, obstacles, and progress.
- Focus on Alignment: Demonstrate how your mission aligns with the funder’s goals and how their support can amplify the impact of both parties. This not only strengthens your case for support but fosters a sense of partnership.
- Plan for the Long Term: Cultivating major gift relationships is a long-term endeavor. While it may take time to see results, the payoff can be substantial, leading to more significant, sustained support.
“The single piece of advice I’d give to grant seekers, is do not be afraid to pick up the phone and call prospective funders. If a funder rejects you after your conversation, they’ve actually done you a favor in terms of the time, resources, and energy you’ve saved by abandoning a fruitless pursuit. And for those that invite you to submit a proposal, you are significantly more likely to win the grant.”
Lauren Steiner, Founder and CEO, Grants Plus
Embrace a Partnership Mindset
Remember, successful grant seeking, much like major gifts fundraising, is built on the foundation of strong relationships. Adopting a major gifts approach to grant seeking is not merely a strategy; it is a commitment to building these meaningful, lasting relationships with funders. By embracing a partnership mindset, you position your organization not just as a grantee but as a valuable ally in achieving mutual goals. This approach not only enhances your prospects for securing major gifts but also contributes to a more sustainable grant funding pipeline.
