What Are Capital Funding Grants & Do You Qualify
If you have wondered about what capital funding grants are and if you can qualify for one, this article is for you. GrantWatch lists capital funding grants that funders make available that can transform the financial foundation of an organization. Also, capital funding can allow an organization to better serve its respective communities. Many philanthropic organizations invest in capital projects to enrich their community.
What is Capital Grant Funding?
Overall, capital funding grants provide general operating funds for an organization. Moreover, these grants are often mostly unrestricted dollars. Capital funding grants are commonly used to pay for costs the programming budget cannot pay for. These expenses include salaries, rent, utilities and fundraising, as well as other administrative costs and overhead.
What Else Does A Capital Grant Fund?
Funders want to fund projects where their dollars can best be used directly for the end beneficiary. Capital grants cover a wide range of expenses for an organization. Capital grants also support major material purchases, renovations, rehabilitation for outdated facilities, construction of new facilities, land purchases, and more. Additionally, the larger the capital need, the more support you must secure for your organization. Your organization should be prepared to secure multiple funding sources for its project.
Do you Qualify For Capital Funding?
Funders are more likely to fund projects that are making a wide impact within the community. For this reason, GrantWatch encourages you to use the capital funding checklist below. The best opportunities your organization have to qualify for capital funding grants include:
- Proposed projects that address root problems with substantive solutions.
- Community-supported projects with solid evidence of support from the community and the organization’s board.
- Proposed projects in rural communities that face more significant challenges to access funds for capital projects.
- Projects that reinforce priorities in public education, natural resources and medical enhancements, as well as general community development.
- Green ecosystem building and sustainable development practices through specific projects and programs.
My organization does not qualify. What are other options to consider?
Also, remember that not every organization is ready for capital funding grants. Do not get discouraged. Overall, there are many great opportunities for your organization. Below are some ways to connect with your community and find the funding your organization needs.
Talk To Your Current Funders
In particular, do you currently have a funder providing programming support? Maybe your organization has a good relationship with them or has recently submitted a report demonstrating your positive impact on the community. If that is the case, you should inquire about opportunities for additional support, including upcoming RFPs (Request for Proposal). Describe the need and see if there is some way they can help.
Inquire About Corporate Sponsorships
Are you meeting with corporate foundations to discuss grants? Meeting with foundations to inquire about their process for sponsorships is crucial. The contact person for sponsorships may also be the person you already have a relationship with. It might also be someone new that could open the door to other funding opportunities. It may be helpful to ask for a ‘warm’ introduction (from your current contact) to provide a strong starting point from which you can develop your (new contact) relationship. Often, corporate sponsorship dollars are also unrestricted. This provides your organization with more flexibility.
Crowdfunding
Generally, crowdfunding uses small amounts of capital from many individuals to finance a new business venture. Crowdfunding makes use of the easy accessibility of vast networks of people through social media and crowdfunding websites. This can efficiently bring possible investors together with entrepreneur startups. In addition, this can potentially increase your results since your organization will connect beyond its current traditional circle of owners, relatives and venture capitalists.
Connect With The Community
Engaging with your community as an organization creates more exposure and allows your organization to make new connections. Examples of this include Joining your local chamber of commerce, attending local events and/or participating in tradeshows. This will help your organization build relationships and new partnerships to help drive your organization forward. Also, building stronger community connections can help your organization reach new levels of success.
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