Bid Research has two elements:
Research the Public Databases
The common approach is approach the known funding providers, Trusts and Foundations supporting a sector. It is successful!
However, more information is contained in the data with an alteration to research approach.
Charities, Trusts and Foundations want to be found. They expect to be approached. The art is in the selection process.
Search the formatted data using keywords, grant values and other filters to reduce the time spent is valuable.
However, experience demonstrates that sometimes the data isn’t complete.
Therefore, expansive filters and focus on your beneficiaries to get the most out of the database.
The alternative process.
Create your own list of preferred funders. The Charities Register is a public database and every charity is required to register. Therefore, you have access to every local and regional organisation linked to your community.
Start the search based on locality.
Review every local Charity and isolate all those with grant making powers.
Sort with three fields:
- Potential Partners
Review the list of Trustees and look for people you know. It is productive.
Also by reviewing the information funding activities in your community are a potential source of income.
For example: A Sailing Skills Charity held an annual dinner. Another charity looking to fundraise locally looked at how they could add value to the event. The outcome created a 30% funding boost.
Few Grant Making Trusts and Foundations wish to remain annonymous, therefore, the local research highlights which Charities are investing in the local community.
Additionally encouraging the expansion the footprint in an area of benefit for a grant making body is appealing for a variety of reasons. Learn to exploit the opportunities.
The Funders provide lists of projects, review the projects in detail, look at all published documentation. Once you identify the trend in funding – the similarities it becomes clear where the application is focused.
A volunteer spending 2 hours per week completing this research broadens the potential funding base.
Consequently, a professional fundraiser uses solid reseach to limit the number of wasted applications. Making the time spent fundraising count! If 20% of the time is researching funders that is time well used.
All of the information is in the Public Domain, however knowing where to start is one issue, the thought that is costs to engage a fundraiser is another and making all the count can perplex Trustees.
Remember, funding research is never wasted. Use the networking, partnering and information to support future bids. However, more importantly, raise money locally.
We will be producing newsletters and blogs dedicated to Fundraising, an introduction for beginners and running events, masterclasses, posting videos for those wanting more support.