Developing A Grant Maker Profile
In my last blog, I provided tips for reading a foundation’s IRS Form 990. I ended by suggesting you create a grant maker profile for any foundations that seem to be a good fit. The profile can serve as a snapshot for the decision makers within your organization and can help facilitate conversations about next steps.
In today’s blog, I offer a few ideas of items to include in a grant maker profile. I’ve also provided an example. To develop a robust profile, I suggest you review the grant maker’s website (if they have one), as well as the three most recent IRS Form 990s.
EIN
I always include the foundation’s Employer Identification Number (the unique nine-digit number the IRS assigns to each business) in a profile. This ensures you can easily locate a foundation’s Form 990 again, if needed. Let’s say in a profile you accidentally list the foundation as “The Smith Fund”, but the foundation is in fact “The R. Smith Fund”. The IRS searchable 990 database allows you to enter the foundation’s name or EIN, thus eliminating any confusion.
Mission and Funding Priorities
If a grant maker has an online presence, they usually include a discussion of their mission, their vision, and their funding priorities. Unfortunately, these items are harder to find if a foundation doesn’t have a website. However, some foundations list their mission and funding priorities in their Form 990.
Application Process
Provide brief notes about the application process, including:
• Deadlines
• Proposal review dates and decision dates
• Whether the foundation prefers to receive an LOI prior to a proposal
• Whether the foundation accepts unsolicited proposals
• Any restrictions on giving
Consider how this information pairs with your financial needs, your fiscal year, and your program plans. Reflecting on the application process will help you shape the timing of your approach to the grant maker.
Geographic Scope
Indicate the geographic scope of the funder’s grant making. This may not match the foundation’s physical location.
Board Members
List all Board members. If the grant maker does not have an website that lists their current Board, I recommend referencing the most recent Form 990.
Contact Information
Include staff names and positions, the grant maker’s address, phone number, and e-mail address. Much of this is included in the Form 990. I also recommend including the foundation’s web address.
Financial Snapshot
Make note of the funder’s fiscal year (listed at the top of the Form 990). Create a list of the grant maker’s total assets and total grant making over the past three years. For a refresher on where to find this information, visit my most recent blog post.
Grant Range
Note the smallest and largest grant amounts overall during the past three years.
Giving History By Year
This is where you dig into the grant maker’s giving trends. I suggest creating a section for each fiscal year that outlines the grant maker’s largest grants overall and outlines other relevant grants, such as grants to organizations with similar missions to yours or that serve a similar population. In my lists, I include each organization’s name, each grant’s purpose, and each grant amount.
Other Notes
Be sure to include notes about anything else that might influence your organization’s approach to the grant maker. For example, you might see that a foundation only gives one or two grants per year or that a foundation appears to have recently shifted their focus to your service area.
As is the case with researching foundation 990s, consolidating a grant maker’s information into a profile takes time. But, like research, it is time well spent. The profiles you create will facilitate a grant approach that is intentional, meaningful, and ultimately more successful.
