Prospecting for Gold: Tools for a Smarter Grant Search
Grant prospecting is a vital part of organizational sustainability—but for many, it’s a confusing, intimidating, or sporadically managed process. Here, we will explore how to dig for “gold” in the grant world without getting buried in irrelevant leads.
Whether you’re searching weekly or you’ve never done it before, this introductory guide recaps key resources to help you build a well-rounded approach to grant prospecting. If you want more, watch our on-demand 3-part series, “Grant Prospecting Using Free Tools.”
The Tools of the Trade
Federal Grants: Start with Grants.gov
If you’re looking for federal opportunities, your first stop should be Grants.gov. You can search by agency, funding type, or eligibility, and even set alerts for recurring grants. If you are new to Grants.gov, they offer several tutorials to orient you to the platform.
For a deeper dive into previous awardees and trends, USAspending.gov is a great tool to reverse-engineer where funding has gone before. Filters include by agency, year, location, and more, and then you can select “grants” or view a map to see where funding has been distributed. And for eligibility specifics or past solicitations, SAM.gov offers helpful records. You can search by government agency and filter by eligibility to find what is pertinent to you.
Private Funding
According to the Foundation Center, over 240,000 U.S. foundations exist—and 90% don’t have websites. Finding them takes creativity and the right tools. Recommended databases include:
- Instrumentl: Offers free trials. Instrumentl is especially good for managing a broader grant pipeline with their built in tracking tools and ability to capture notes and status. IRS Form 990s are available directly in the platform and are used to inform Instrumentl’s smart features, such as a foundation’s willingness to fund new grantees. You can also get relevant grants and updates fed directly to your email inbox. This is the software TGP uses day in and day out and we recommend! Our partners at Instrumentl is offering new subscribers $50 off a trial subscription using this access link.
- GrantStation: Free with a membership to the Grant Professionals Association! GrantStation offers a database plus a timely feed of open opportunities.
- Foundation Directory: Foundation Directory has long been the gold standard in the field, and they have a robust database with functionality that “suggests” similar funders to you for review. There are two ways to access Foundation Directory for free: (1) at your local library if it has a subscription, and (2) if your nonprofit has revenues under $1,000,000 and you document your work to earn the Gold Seal of Transparency on Guidestar (as of this writing).
- Philanthropy News Digest: You can subscribe to receive weekly new RFP updates to your email inbox.
Getting Creative: Other Places to Look
Some great grant leads can come from less obvious places:
- Follow funders on social media: Many foundations, government agencies, and corporate philanthropies announce new funding opportunities on their social platforms—and these posts usually appear before they get aggregated into newsletters or updated in prospecting software. Follow them on LinkedIn, Instagram, and Facebook to stay in the loop and engage with their updates.
- Explore local economic development agencies news: Many economic development agencies publish regional funding alerts. For example, New Mexico’s Economic Development Department has a great newsletter that is delivered weekly.
- Review 990s: You can review 990s of peer organizations (to see who’s funding them) with a free account on Guidestar.org.
- Subscribe to relevant publications: Inside Philanthropy has interesting articles on trends among grantmakers, as well as hosts a database of funders organized by sector. Subscriptions start at about $50/month (as of this writing). Youth Today has grant news and listings focused on organizations that serve youth of all ages. (Note: Youth Today is currently transitioning to a new payment plan and host.)
And, shameless plug: We send out a weekly Grant Watch with a roundup of grant listings for the various sources we monitor. If you haven’t already subscribed, it’s free!
Final Thoughts: Build a Strategy
Instead of scrambling when a deadline looms, aim to create a grant calendar or annual strategy. Use quarterly planning sessions to sit down with a database, perhaps even taking a day long retreat to a library or co-working space. Save lists and pertinent notes, create calendars alerts, and get the info into your preferred organizational system.
Prospecting should be part of your regular planning rhythm. With a concerted effort and dedicated time, you will be able to strike gold in terms of finding the right funding match for your organization or program!
Ready to Get Started?
Learn how to find the right funders in a changing grants landscape. This 3-part series covers free tools, databases, and strategies for grant prospecting. Get tips on tracking, screening, and planning—plus resources to streamline your search.
This post was filed under: Prospect Research, Training