Take our grant readiness quiz

• Why did you ask? Often, foundations and grantors have geographic limitations. 
• What does it all mean? “Out of your own country” grants are sometimes difficult to get 

• Why did you ask? Foundations and grantors are less likely to give to newer organizations.
• What does it all mean? It’s the recommendation of the Nonprofit Marketplace to have your nonprofit designation for at least three years before you go after grants.

• Why did you ask? You need numbers to justify your work.
• What does it all mean? Foundations and grantors are simply investors, like Shark Tank. You can have a great idea, but if you cannot fulfill that idea, why would someone invest? Maybe read blog post “The Road to Hell is Paved with Good Intentions”.

• Why did you ask? You must have a board of directors.
• What does it all mean? Boards are oversight for the organization and the money that a foundation might give you. A board with four members and all the same last names probably has less credibility than a board of 12. 

• Why did you ask? This is often a question asked on grant applications. 
• What does it all mean? This is super important. I mean, if your stakeholders are not putting money into your organization, why should a random foundation.

• Why did you ask? This is a common upload as well as a common tool for any nonprofit business. You should have it.
• What does it all mean? A budget is just a road map. It shows you put real thought into your income and expense and are going to try to stay within a finite space.

• Why did you ask? Same as the organizational budget, you also need a budget for your project.
• What does it all mean? The NPM is a big believer in using grants mostly for budgets. Foundations and grantors like seeing a project because there is a start time and a completion. With a general operating grant, there are too many factors that cannot be controlled by the foundation and, thus, are harder to get.

• Why did you ask? Foundations and grantors want to see sustainability.
• What does it all mean? No foundation or grantor wants to be the only source for your project. 

• Why did you ask? Not a big deal, but it is to help determine size of the organization.
• What does it all mean? If we are talking just the way things look, a $100,000 organization has the capacity to do more than a $15,000 organization. Its just ‘appearance is reality’ thing.

• Why did you ask? Also not a big deal, but it is to help determine size of the organization.
• What does it all mean? Paid staff is a little different than just budget size. If you have a paid staff, that means you have people counting on your success for themselves. If your organization with 10 employees doesn’t operate like a business, the employees get laid off, and their lives change drastically. Having employees tells foundations that you are super invested. You have other’s people’s livelihood counting on you.

List of board members with contact information

• What does it all mean? Foundations want to see that you gave a legit board and sometime look the board members up to see their influence.

Copy of bylaws

• What does it all mean? Proof to the grantor that you are legit. Required to be a nonprofit.

Articles of incorporation

• What does it all mean? Proof to the grantor that you are legit. Required to be a nonprofit.

Copy of your 501c3

• What does it all mean? Proof to the grantor that you are legit. Required to be a nonprofit.

Minutes approved by the board from your last three meetings

• What does it all mean? Shows the grantor that you are following proper procedure, and you have a running history of what your organization has done.

Your most recent financials (like what's presented at the board meeting) 

• What does it all mean? Straight numbers in an easily readable format tells the grantors that (A) you are a professional organization and (B) they can review them.

Your board-approved organizational budget

• What does it all mean? Proof to the grantor that you are legit – as discussed above.

The budget for your project

• What does it all mean? Proof to the grantor that you are legit – as discussed above.

Your most recent audit

• What does it all mean? Foundations and grantors often ask for audits for two reasons: (A) it weeds out the little/new groups and (B) to know that an independent person has examined and signed off on your books.

Your most recent 990

• What does it all mean? Required by the federal government to remain a nonprofit, a 990 shows your completed financials as well as (usually) being completed by a third party.