How Much Funding Can You Request in an Application?
Securing funding is the most critical aspect of the sustainability of charitable organisations. It serves as the fuel propelling missions forward. While crafting compelling applications is the key to unlocking financial resources, it is not always a straightforward process, as one question often arises: How much funding can we request?
Understanding the best practices surrounding funding requests is crucial for charities aiming to get their financial support while remaining aligned with the funder's expectations and limitations. Here is a guide to help maximise your chances of securing the appropriate level of funding.
First and foremost, thorough research is essential. Dive deep into the specific funding criteria and priorities of potential funders. Tailor your funding request to align with the criteria closely, illustrating precisely how your goals and activities directly intersect with the donor's interests and objectives.
Next, ensure your budget is both comprehensive and realistic. Account for all expenses associated with your proposed project or programme, leaving no stone unturned. Clearly articulate how the requested funds will be utilised and the anticipated impact they will have on advancing your mission. We have often seen many clients try to sneak something into their budget and a funder will jump at a reason to reject your application. If you’re asking for too much, sometimes a funder will also think you’ve not done your own research or even believe you’re ignorant.
Additionally, consider leveraging partnerships and collaborations to strengthen your funding application and increase credibility. These ‘in kind’ contributions, whether by support through volunteers or donated services really can help show you’re trying hard to get funding from other sources.
There are several factors that influence the amount of funding charities can request, including:
Project scope: The scale of the project directly impacts funding requirements. You must align your funding requests with the scope of your project, ensuring that the requested amount adequately covers all project-related expenses.
Budgetary considerations: You must develop realistic budgets that accurately reflect project costs. Funding requests should be grounded in thorough financial planning, accounting for both direct expenses (e.g., programme implementation, personnel costs) and indirect costs (e.g., administrative overhead, evaluation).
Grantor preferences: Grantors may prioritise certain types of projects, geographic regions or target populations. Tailoring funding requests to align with grantors' preferences increases the likelihood of securing support.
Matching funds: Some grant programmes require you to provide matching funds or in-kind contributions. You should explore opportunities to leverage existing resources and partnerships to fulfil matching requirements and improve your competitiveness.
Sustainability: Grantors often assess the sustainability of proposed projects beyond the grant period. You should demonstrate their ability to sustain project outcomes and operations beyond the initial funding period, influencing the amount of funding you request.
Best practices for consideration:
Clearly articulate the purpose of the funding request, outlining specific project objectives, activities, and outcomes.
Provide a detailed budget narrative that explains how the requested funds will be utilised and why they are necessary to achieve project goals.
Ensure that funding requests are realistic and proportionate to the scale and scope of the project, avoiding overestimation or underestimation of expenses.
Align funding requests with grantors' priorities, demonstrating a clear understanding of their funding criteria and objectives.
Be transparent about other sources of funding, existing partnerships and potential challenges or risks associated with the project.
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