Elite Research explains finding funding in non-profit research. Elite Research is a global provider of research design and statistical consulting. They support academic, corporate, medical/health, and non-profit researchers in designing, collecting, analysing, and reporting efficient and accurate results.
Non-profit research can be funded through a variety of means including government grants and private donors. Finding the right funding for your research can require detailed research on potential grantors or donors.
Grants are a valuable source of funding for non-profit organizations. The first step to finding a grant is to define what you are looking for. Establishing search criteria for the grants you want will narrow your search and lead you closer to suitable funding. Look for funders that are interested in your research topic. The Foundation Center is a good resource for finding grants.
Once you have found several potential grantors, start doing your homework. Dig for personal details on their philanthropy, successes on previous grants, biographies, or anything that could be used to associate them with your research. Then using all of the information you have collected, write a customized grant that will spark the grantors interest. Avoid writing a cookie-cutter grant that is sent to all potential grantors. For more information on grant writing, read Elite Research’s How to Write a Grant. It is important to stay organized through this process. Create a central location to track all of the information you have collected including grantor information, requested amount of funding, and deadlines.
Private donors are another option for funding. There are advantages to receiving private funding. Often, private funding can offer more funding than institutions because the funds do not have to be divided among many organizations. There is a shorter reaction period for private funding and it often does not require an elaborate proposal. Private donors are more likely to be loyal to your foundation because a relationship is usually developed with the organization.
There are several different kinds of private donors. Relationship seeking donors want to connect emotionally with your non-profit. It is important to build relationships with these donors. All business donors simply want to make a donation and get a tax receipt and casual connectors are a medium between the relationship seekers and all business donors. Find the type of donor that you can appeal to most and then focus on that group. Know what kind of donor you are handling and then respond accordingly.
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