Private Grant Money

Private Grant Money

A number of private Institutions, Foundations and large American Corporations make grants in terms of their own goals and objectives. Because this is Private Money, they do not have to approve any grants, and have the final say. This means that, unlike government grants, there is more skill involved in obtaining Private Grant Money than simply filling in a government form.

The organizations concerned are also not joined up like government, and there is no single comprehensive list available of organizations to which one could apply. Some interested parties publish their own lists, which may, or may not be, correct and up-to date. That said, the following link should help to get you started: http://www.technologygrantnews.com/grant-money-index-type.html

The key to a successful Private Money Grant application is aligning your own requirements to things that are important to a particular Grantor. For example, if you need money to fund a Masters Degree in Fine Art, the American Institute of Building is not the best place to start, although, as a very long shot, they might be sympathetic towards an under-privileged brilliant student needing help with cash for their Architectural Masters.

A better way is to search for and find an institution, foundation or firm whose core interests and values align with your grant proposal. For example, if you would like to start a riding school in a poor area, then local horse breeders or the national horse riding association might be a good place to start.

Steps in a Successful Private Grant Money Application

You will need to do quite a lot or work up front, to convince a potential Grantor that you are genuine, before they will let you anywhere near close to the decision maker on whose assessment the success of your Private Money Grant will depend.

This is what you have to do, and the order in which to do it:

* Determine the remit of your target – that is what it is supposed to do in terms of its founding charter. Most organizations will happily send you a copy of their mission or founding statement. Often this forms part of their annual report, which may be accessible on the internet. Look for words like encourage development, support initiatives, invest in the community etc. These will indicate whether the organization is interested in the wider environment, or not.

* When you have found an organization whose core values align with those of your project, and which seems likely to consider your application for Private Money Grant, pay them a visit, or phone them to find out more. Start by making sure that realize that you have researched their organization, and understand how your proposal aligns with it. If they express interest, ask permission to submit a Letter of Enquiry, and find out whom to address it to.

* A Letter of Enquiry is the single most important key to a successful Private Grant Money application. Nobody will wade through a dozen pages unless they are already interested. This means that your letter needs to be punchy and to the point, and written in a compelling style.

* Introduction: In 75 words (no more) explain that you are applying for a grant, and what the grant is for.

* Benefits to the Grantor: Private money grantors usually do things because there are benefits for them – very few people have completely altruistic reasons for providing free money grants. Explain how issues important to them will be positively affected. For example: teaching disadvantaged kids to ride horses will enhance the cosmopolitan nature of membership.

* Details of your Proposal: Keeps things short and simple. Just provide the basics, or you could lose your reader’s interest.

* Why they should consider You: This is where you say something about yourself, why you need the money, and how they can be assured that you will not waste it. Again, keep things short and simple – you can tell them more if they invite you to an interview.

* Lodge your application with your potential Grantor: If possible do this in person. Don’t try to impress. Concentrate on leaving the impression behind that you are an honest, trustworthy and reliable citizen.

* After a decent interval, say three weeks or so, call the organization and enquire whether your Letter of Enquiry was favorable received. Unlike as is the case with government grants, personal contact is permitted and may even be regarded as proof of your sincerity. If the response you get is positive, follow your nose further. If not, dust off your feet, and try somewhere else.

There is no reason why you should not be able to obtain Private Grant Money, provided that you are in need of it, and your proposal is in line with what the organization does. A final comment. Do not cheapen yourself by applying for many Private Grants simultaneously. People talk, and if they do and find out that you applied across the road as well, then they will be less inclined to be interested in you.Your browser may not support display of this image.