Effectively managing the complicated Foundation Sourcing Process (FSP) is critical to the success of any community or entity seeking to receive funds from foundations. An IRS 501 (c) 3 entity is generally required in order to receive funds from a foundation. Swope & Associates can assist in establishing one if necessary.
First, Swope & Associates works with the client to sufficiently develop the project(s). Second, Swope & Associates searches databases to identify potential funders for the project(s).
Next, a list of funders is developed, and Swope & Associates analyzes and prioritizes the funders by several criteria, including the application deadlines.
Then, Swope & Associates gathers information about the entity seeking funds, and it is synthesized with the project information to create a mail-merge LOI (Letter of Interest or Inquiry), which is the first contact with a foundation.
Swope & Associates is very skilled in managing the foundation sourcing process. Once replies to the LOI are received, they are processed, tracked and reported to the client on a regular basis. Follow-up contacts are made as needed, and Swope & Associates begins constructing the Common Grant Application for the project(s), to submit to those foundations interested in considering the project for funding. Swope & Associates creates custom Grant Applications for those foundations with special requirements.
Swope & Associates continues to keep the client updated on the status of all foundations in the FSP, including which foundations declined and reasons, if given. Notifications of monetary awards are also reported to the client and tracked. Swope & Associates sends Thank You notes to all foundations that any responses are received from.
IT’S NEVER TOO SOON TO GET YOUR PROJECT FUNDED BY A FOUNDATION! CALL SWOPE & ASSOCIATES AT 909.533.4736 TO START THE PROCESS!