Welcome to the series, What Is…? where we describe common terms and concepts to help you confidently build your nonprofit. Today, we are tackling the term “being grant ready”.
What is Being Grant Ready?
Being Grant Ready is the process where an organization assesses, plans for, and executes their plan to research/find, apply for, win, and manage a grant successfully. There are four areas of the organization you will focus on to be grant ready- Organizational, Operational, Financial, and Programs.
Why Would We Use Grant Readiness?
Taking the time to be grant ready will ensure higher odds of receiving grant awards. The most seasoned grant writers in grant ready organizations report a benchmark of 1 in 10 grants receive awards for their organizations. This means an organization that isn’t grant ready has less than a 1 in 10 chance of seeing a grant award.
When an organization focuses on being grant ready, they are dramatically increasing their odds of receiving the much needed funds from grants.
When Should Our Organization Go Through The Grant Ready Process?
The grant ready process of assessment, plan, and execution happens when an organization is new, adds a new program, or has a major change. Every year though, your organization should update all information in the grant ready process to make sure you are most current.
Let’s Sum It Up.
Grant ready is a term used to describe the process organizations use to be able to research/find, apply for, win, and manage a grant successfully. They use this process when they are new, add a new program, or undergo a major change. Every year they update their current process with new information to keep their process current. Being grant ready dramatically increases the odds your organization will win that grant.
Check out the YouTube channel, The Original Nonprofit Founder’s Club What Is…? where you can find other terms.