What Is a Funding Proposal?
According to an article by Duncan Haughey on Project Smart, a funding proposal is used to request financial needs by providing a compelling case for a project proposal.
How to Write a Funding Proposal
A lot of community organizations be it private or public are also getting their funds and budget from donors. To achieve that, write a letter or request proposal can be a helpful way.
This guide will present tips on how to write your own funding proposal that can help you convince your donor to allocate enough budget for your proposed project.
1. Identify a Problem
Before you start writing a funding proposal, you need to identify the issue. Formulate questions that need to be addressed. What are the problems in your community that longs for development or changes? Make sure they are realistic. You need to consider if that certain problem truly affects the community. Involve stakeholders in the agreement.
According to an article on www.arc.gov, connect with stakeholders to establish a clear, concise description of the issue or situation. Most of the stakeholders might need more than one conference to come up with a resolution. It's going to be worth the effort. Once people agree on the problem, the rest of the funding proposal project plan flows more smoothly.
2. Describe the Overall Outcome
After you present a particular problem, project possible outcomes. Craft solutions for your proposal clearly. What will be the result of your planned activity? How will it help in the development of your project? For instance, your focus is on water pollution, will the people in the community be able to drink again? You can add possible outcomes to your stakeholders. Make sure your outcomes are realistic too as well as achievable. The Appalachian Regional Commission published an article that said failing to meet goals will make getting additional funding in the future more difficult.
3. Present a SWOT Analysis
A proposal is a form of written communication. You may not have an opportunity to elaborate everything so, make it a point to present the facts clearly and well-organized. A SWOT analysis is a convenient planning method that enables you to identify your organization's strengths and weaknesses as well as its opportunities and threats. Having achieved this, you will be able to demonstrate how to build on your strengths, addressing your weaknesses, taking advantage of opportunities, and confronting the threats through the planned proposal.
In this manner, you will show the potential donor that you have a realistic and clear picture of the organization and that you have the insight and commitment to establish its ability to assure that the project is sustainable.
4. Ask for Donation
Here, it is the time you ask for the amount of the financial statements and resources you need for the activity. Be honest and certain when stating the amount. It is very essential for donors and fundraisers to understand the proposed projects of the organization as well as the sustainable benefits that the community will obtain from these.
Based on an article from Education Training Unit, most fundraisers would like to know the money they give will be well-used and accounted for. Building a healthy connection with the individual funders and making them feel confident about you and your organizational structures is very essential.
5. Build Alliance
Establish goodwill. Even before you receive the grant of your request, say thank you to your donor. Build a strong connection with your donor to gain sustainable and long term engagements. When your proposal is already approved, it gives an opportunity of having another successful professional proposal. Communicate with your potential donors about the process of your planned projects.