It’s important to know that your organization can be a compatible partner to the funder you are approaching. Consider looking at your opportunity like eHarmony or host of other online dating sites. The more variables that line up, the more questions you answer in common—the better your chances.
In the search for a good funding match, we usually consider a potential funder to be a prospect.
• Does your prospect look at organizations in your geographic area?
• Has your prospect supported similar organizations in the past?
• Does your organization align with the “areas of interest” for the prospect?
• Will your prospect consider funding the amount you are asking?
• Do you have a history with this prospect?
• Do you have a board member who is connected to the prospect?
• Can a board member open a door for you with the prospect?
Resources to find some of the necessary background information can be found by reviewing the potential funder’s Form 990. GuideStar or through the Foundation Directory Online.
Recent technology is allowing most foundations to post information and usually their 990s on their own website. Do your research.
• Who did the prospect recently support?
• How much did they fund?
• Do they fund multi-year gifts?
• Who is on their board of directors?
• What is their giving history?
• What key words stand out in the funding they have provided to other recipients?
The most basic fundraising teaching will break this all down into the LAI principle.
• Linkage
• Ability
• Interest
If you can find common ground between your organization and the prospect when you answer these questions, it might just be time to break out the roses and iron your best blouse (figuratively speaking)…give it shot. Begin preparing a well-developed proposal and see if they are interested in being your partner.
~Cheers!
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