𝟑 𝐂𝐨𝐦𝐦𝐨𝐧 𝐌𝐢𝐬𝐜𝐨𝐧𝐜𝐞𝐩𝐭𝐢𝐨𝐧𝐬 𝐀𝐛𝐨𝐮𝐭 𝐆𝐫𝐚𝐧𝐭𝐬 𝐭𝐡𝐚𝐭 𝐍𝐨𝐧𝐩𝐫𝐨𝐟𝐢𝐭 𝐅𝐨𝐮𝐧𝐝𝐞𝐫𝐬 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰
As a nonprofit founder, it's easy to believe that grants are the solution to all your funding problems. But are they really? In this podcast episode, the host highlights three common misconceptions that many founders have about grants and grant writing.
The first misconception is that grants will fund your organization. While it's true that grants can provide a significant amount of funding, they are not a magic solution. Founders who chase after grants they won't qualify for end up wasting valuable time and resources. Instead, focus on building a strong infrastructure that will attract donors and make your organization grant-ready.
The second misconception is that grants are a one-and-done fundraising activity. Unfortunately, writing a grant proposal is just the tip of the iceberg. Once you receive a grant award, you'll have to keep track of expenses, receipts, and meet the expectations of the foundation or government agency. It's a process that requires planning and attention to detail.
The third misconception is that grants are free money. While this may seem obvious, many founders forget that grants come with added costs. There may be requirements for specific equipment or computer systems, and you'll need human resources to run programs. Don't ignore the costs associated with grants at the expense of your organization.
In conclusion, grants can provide much-needed funding for your nonprofit, but it's important to understand the realities of grant writing and the misconceptions that can hold you back. Use these tips to build a strong infrastructure, plan for the grant process, and understand the costs associated with grants.