Philanthropic Initiatives

Philanthropic Initiatives

For those considering engaging in philanthropic initiatives to increase gender diverse inclusion, following are best practices to keep in mind.

Professionalism

Professional approaches and resources often lead to professional results, i.e. you get what you pay for. It is important to also note that the definition of ‘professional’ is evolving.  An excellent resource on professionalism: “Is Professionalism Inclusive” from the AAVMC.

Research

Conduct research first to understand relevant foundations and their requirements.  It is a waste of your time, and potentially detrimental to your reputation, to apply for grants and funding without understanding the organization and their priorities. There may be low hanging fruit available through foundations where  connections already exist.  If you are interested, however, in building a long term grant program  professional, experienced resources should be leveraged, especially engaging with those who can dedicate time on a regular basis to your program.

Case Statement

Your case statement should include who you are, what you do, why you do it, and the difference you make or intend to make. It is important to start by asking yourself the hard questions.  Are you truly making a difference and do you have something to offer? If so then carry on.

Gap Assessment, Proposal, and Outcomes

1. What have you identified as a need (s) in your community?
2. How have you measured this need (metrics, anecdotal)?
3. How will your activity/program meet that need?
4. Is this activity/program sustainable, renewable, self-supporting?
5. How will you measure success, challenges or failure

Foundation Search

Ideally use a search vendor!

If you decide to search on your own, first conduct a  general search in your area of interest.  The next step includes  dividing your organization into 3 clear key areas (eg education, community outreach, early career mentoring) and searching under your area of interest using these additional terms. This may result in  additional foundations to target.

Be sure to investigate foundations that have some history and some funds. Also keep an eye out for those that have a history of seed funding  for new projects. In most cases it is best to avoid smaller foundations or brand new ones unless a newer foundation has a large funding capacity. Foundations need to distribute 5% within the first 2 years for their 501(c)(3).

When conducting foundation searches it is also important to understand your ideal fit.  Don’t waste time trying to fit a foundation that does not align with your goals. Instead, spend time approaching foundations with which your missions align.  A Letter of Interest (LOI) can be sent to foundations in between proposal request periods and to foundations that do not publicly post submission deadlines. A LOI is a short version of a proposal, similar to an executive summary, and in some cases will serve as a request to submit a proposal.

Be sure to pay attention to the open proposal window as many foundations are very stringent. Plan ahead and submit your materials in at least two weeks prior to the deadline.

It is also important to provide specifically what is asked for. Each foundation usually provides a checklist of items they require to complete a funding request. Review this carefully – several times. Make sure that you have everything they ask for as sometimes this will disqualify you..  Many foundations do not want additional items such as brochures and pictures, etc. If you wish to submit ancillary items contact the foundation in advance and ask if these may be included.

Resources

Candid.  If you are looking at basic grant writing resources Candid, formerly Foundation Center and GuideStar, is a good place to start including their directory.

Donors Forum is based in Chicago and this organization has national and some international listings for foundations and many resources. Their basic level foundation search is free!

Chronicle of Philanthropy is another useful resource. You can sign up for free for their updates and announcements. News and information may be sorted by type, region, or any other attribute.