I discussed the key Best Foundation Funding Prospects factors that determine who gets funded – and who doesn’t. These factors were determined based on foundation funding statements and demonstrated funding preferences identified through analysis we have conducted on over 10 million US foundation grants spanning 15 years. The identified factors are:
To start, in-depth foundation information is readily available through online searchable databases, such as FoundationSearch and Foundation Center’s Foundation Directory Online (FDO). In comparison, both provide tools to allow filtering of foundations by grant amount, location, area of interest, and funding category. While these filters are useful, they do not account for new versus old recipient giving ratios or giving trends.
Recent testing of the filtering capabilities of both FDO and FoundationSearch prove both are adept at producing a “not so short” list of prospective funders for various search criteria. For example, a search for “scholarship” funding in New York state quickly produces an unsorted list of 1,670 potential funders in FoundationSearch using that product’s Grant Analyzer feature. This is certainly gets the fundraiser much closer to their goal of a targeted and ranked list of the most likely funders, but still leaves much work to do.
Foundation Center acknowledges the problem and provides a Prospect Worksheet, designed to “help you focus on funders whose priorities match those of your project.” The PDF form, which is four pages long, covers some of the key factors that should be evaluated when reviewing foundation prospects (again, see my previous blog post for an explanation of those factors). The form includes a section for determining whether the funder is a good match or not; you can make notes on subject focus, geographic limits, types of support, and populations served.
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