Position Your Opportunities Within a Funding Strategy

Now that you have identified and prioritized potential funding opportunities, step 5 determines how each opportunity fits within your overall funding plan for a project. A funding strategy helps you piece together the right combination of funders to approach, decide how much to request, and identify the order to submit each proposal. It ensures that your requests work together to support the full funding need rather than approaching each opportunity in isolation.

However, keep in mind that not every request needs to be part of a formal strategy. Nonprofits often encounter one-time opportunities, such as a local business inviting a proposal or renewal application you submit to a foundation every year. These requests can usually be handled individually.

On the other hand, when funding needs are larger or when multiple funders are involved, developing a clear strategy becomes much more important. A thoughtful funding plan can increase your chances of success, help your organization coordinate proposal timelines, and demonstrate to leadership and stakeholders that there is a clear path to meeting funding goals.

Decide How Much to Request

Determining how...