Entering the Third Quarter: Planning for 2020
Oh the beloved final months of the year! Holiday season! Waiting for the first snow. Cozy nights in. And for all the nonprofits, year end fundraising! Somehow, in between dealing with Give to the Max Day, getting out year end letters, and wrapping up financials, organizations have to find time to take stock of grants so far and plan for next year. While getting a solid grant calendar in place at the start of a year can take a big investment of time and resources, updating it, and updating plans for next year should be a lot easier. What are the key things to make sure to do so you’re ready to anticipate and submit that inevitable January 3 deadline?
1. Review your applications to date.
If there are applications that have been outstanding for more than 3 months, or whose promised notification date has passed, reach out for an update. Not only do you need this information, but it’s a helpful opportunity to keep building relationships with foundation staff.
Take a look at what was successful, and even more importantly, what wasn’t. If you didn’t ask for feedback on your declined applications, take a moment to do so now. Take note of any applications that have been unsuccessful more than two years in a row, and any applications that resulted in a significant increase or decrease in past funding.
2. Update your calendar.
Start with the easiest item – the deadlines. Run through the calendar and update the deadlines that have been announced for 2020. If nothing is out yet, note TBA or the expected month.
Now is where the review comes in handy. Are there funders who it makes sense to not approach again, based on past declines? If a foundation has passed on your project three years in a row, ask if it’s worth the investment to keep applying. In the same vein, how much do you plan to apply for next year based on response this year? If a foundation increased their funding by 10% with a gushing note on how much they love your work, maybe it’s worth asking for even more next year. Or, the sad reversal, if a foundation is scaling back commitments in your program area and cut your funding, consider if it’s worth still applying for a lower amount.
3. Renew your relationships.
Do you think you’ve been a good steward of your relationships with foundations? Are there program officers you wish you’d connected with more? Opportunities to provide updates outside of formal reports you wish you’d taken advantage of? Now is as good a time as any to reach out, and to identify easy ways to stay in touch next year. Make sure program officers get added to event updates and invitations. Double check that you met all your reporting requirements. All of this will help strengthen your grants development next year.
4. Assess your strategy.
How well do grants align with your priority funding needs in the next year? This is especially important to consider where there is a new program coming online or a gap in funding – it’s easy to assume that grants can fill a gap or meet a new need, but that’s not always the case, so it’s important to do a little research to confirm that. If grants don’t line up well with priority funding needs, are there other places that grants can be utilized to shift funding sources?
Also take a look at how your plan for grants aligns with your grant outcomes this past year. Does your approach need tweaking to accommodate changes in funding priorities from current funders or emerging high potential funders? Foundations are always shifting and adjusting their strategies, so organizations have to do the same.
5. Update what attachments you can.
Early new year funding deadlines don’t line up nicely with end of year financial close out. Most funders understand this and accommodate it, but it will still be less stressful for you if you can gather as many updated attachments for the new year as you can. Board lists, provisional budgets, year to date financials, whatever you can have prepared for the first batch of 2020 deadlines will make getting through post-holiday deadlines just a little easier.
