What is grant ready? Being grant ready means having everything in place to compete for grants and handle them when they come in. The 9 Steps Action Guide gives you a direction to build your new nonprofit with the end result of being a stable organization ready and able to get funding from donors and grants. I have also done a series on getting grant ready. Today, we will talk about the nine most common documents grants applications request.
Current Strategic Plan (Step 2 of 9 Steps Action Guide)
A strategic plan is a document that gives a three to five-year vision of where the organization is going. A simple strategic plan includes:
- Mission and Vision statements
- Outline of Goals, Objectives, and activities
- SWOT analysis
- Strategic Analysis
IRS tax-exempt letter
This is the letter the IRS sent when you received your 501 c 3 status.
Listing of the Board of Directors and their professional affiliates
This will be a list with the Board of Directors’ names and any personal affiliations.
Current Financial Statements
These statements include a 990 or 990-EZ and an audit or independent accounting review. The 990 or 990-EZ is the tax form you file every year. An audit is done through an accounting firm and is expensive. However, audits are not required if you have an income of less than $200,000. In that case, an Independent Accounting Review will be needed.
Articles of Incorporation and Bylaws
These were created when you created the organization.
Current Organizational Budget (Step 3 of 9 Step Action Guide)
If you are following the nine steps, this is part of Step 3. A simple operational budget shows all income and expenses. The operational budget includes a line item of the program you are requesting funding for. An Operational Budget is different from a Project or Program Budget. A project budget is part of your grant proposal and is a detailed income and expenses report of what you are requesting in the grant. A Program Budget is what you put together when you are creating or administering your program.
Resumes of Current Staff
If you are using volunteers in your key positions and do not have staff, then use the volunteer’s resumes.
Marketing Collateral
Marketing collateral is the items you use to attract clients and donors and provide transparency. Examples would be newsletters, brochures, and annual report.
Public Relations (PR) Materials
They are documents which are publicly distributed by the organization in the form of newspaper clippings, videos, social media post or website links.
If you have these documents, then you are one step closer to being grant ready. If not, you have some work to do. Download the checklist to help you make sure you are a grant ready.
Related Links
Grant Ready Series- Part 1, Part 2
Most nonprofit leaders lay awake at night trying to figure out how to fund their mission.
Hi! I'm Alesha.
I teach sustainable fundraising in a way that they can take action today so they can serve their clients.
I can help you move from just getting started funding your new nonprofit to gaining confidence in your fundraising and building relationships to knowing what works for your organization and looking at the infinite game when it comes to funding. I’ve worked with nonprofit Founders and written the book I HAVE MY 501(C)3! NOW WHAT?!? Your Blueprint to Starting Your Nonprofit Without Being the Sole Funder that lays the foundations for funding in a new nonprofit.
I’ve worked in Development (Fundraising) Departments in large organizations and I know the no cost, low-cost methods they use to bring in funding. I bring those sound strategies to the nonprofits I serve.