With many charities reporting that individual giving programmes have taken a hit, trusts and foundations can be a fantastic source of alternative funding. But if you’re having trouble securing funding, you could be making one of these mistakes.
Targeting trusts that don’t have a history of supporting your cause or similar
Before starting your application, go through the trust’s funding criteria with a fine tooth comb and ensure they’re sympathetic to your charity’s cause. Check which charities they have funded to see if your cause is aligned with those they’ve funded in the past. If you’re not securing funding and don’t know why, it could just be that the trust doesn’t fund in your field.
Submitting applications when the trust isn’t accepting them
Take some time to research key dates and deadlines before starting your application. Make sure you know:
- If they have deadlines coming up
- If they’re starting funding in the future or closing down
- If they accept unsolicited applications
Knowing the answers to these questions in advance will save a lot of time for you and the trust. Make each application count.
Not being familiar with their application process
A poorly researched application could do your cause more harm than good. To save your reputation (and not annoy the funder), make sure you are approaching the foundation in the right way and making the best possible case for your charity. If it’s within your budget, it’s worth hiring a professional with experience in grant applications to help you develop the most compelling bid.
Not using your existing connections
Does your charity have existing connections with the funder that could help with the application process? Research the board of trustees of the foundation you want to approach. Your charity might already have a long-standing connection that could make the whole process a lot smoother.
Remember, trusts and foundations exist to support good causes. Make it as easy as possible for them to support you. Make your application succinct and clear, and demonstrate how your work will help them achieve their goals.
At Prospecting for Gold, we specialise in research, wealth screening, consultancy and regulatory compliance, making fundraising more effective and successful.
Wealth screening can help you expand your donor base and boost your fundraising. By understanding your supporters, you can personalise your approach, making your fundraising efforts more effective and efficient. It can also help identify grant-making trustees and livery company members currently supporting you that may be able to open the door to grants from foundations and livery companies.
Successful major gift fundraising isn’t just about securing a donation. It’s about building relationships, understanding people’s motivations and aligning their interests with your cause. This applies just as much to trust fundraising as it does to fundraising from individuals.
Ready to transform your trust and foundation fundraising? Get in touch with us today.