You’ve found a grant—great! But before you get too excited, you still have to figure out:
- If you’re eligible
- If you have enough time to develop a proposal
- If the award would be in line with your funding needs
- If you’d be a competitive applicant and it’s worth your effort to apply
Identifying the requirements of a grant application is arguably just as important as identifying the grant itself. Instead of having to jump back and forth between grant portals, funder websites, and 990 Forms to find this information, we are going to show you how you can leverage Instrumentl’s "Funding Opportunity" and "Funder 990 Report" tabs to uncover these insights all in one place.
Let’s get started!
Find Grants Available in Instrumentl
Instrumentl is an all-in-one grant discovery and management platform designed to help organizations find and secure funding. Instrumentl’s intuitive interface makes it easy to identify grants by aggregating opportunities from various sources and providing detailed insights into each one.
Once you create an Instrumentl account (you can sign up for free for 14 days!), you’ll be prompted to create your first project.
A project is essentially a saved search, and it will be used to match you with relevant funding opportunities. You’ll be prompted to share information about your funding needs, including your:
- Field of work
- Grant size you’re seeking
- What you will use the funds for
- Geographic location
- And more
Once you’ve finished setting up your project, VOILA! Instrumentl does the heavy lifting for you by searching its entire database of active grants to match you with the most relevant opportunities.
Decide If the Grant Is Right for You
Now it’s time to review your matches!
Instrumentl’s Matches page resembles an email inbox—a list of grant matches are on the left and you can click into any of them to see their details on the right. These details are split between two different tabs: “Opportunity” and “Funder 990 Report”.
For example, if you were matched with the Summerlee Foundation’s Animal Protection Program Grant, the first thing you would want to do is click into the “Funding Opportunity” tab and scroll down to the Eligibility and Ineligibility criteria section.
As you can see below, Instrumentl will list any of the grant’s requirements so that you can quickly determine whether your organization is eligible for the award.
If you pass the eligibility test, you can then move on to reviewing the grant’s details.
Once you’ve reviewed the eligibility section in the “Funding Opportunity” tab, you should dig deeper by reading the grant’s Overview.
For example, this overview provides insight into the Summerlee Foundation’s background and program objectives, helping you assess how well your mission aligns with their funding goals.
Pro Tip:There sometimes might be important information in this overview section, such as instructions to set up a call before submitting a grant request—so make sure to read this section carefully.
Make Sure You Have Enough Time
If you meet the eligibility requirements and it seems like your mission aligns with the funder’s, your next step should be to make sure you have enough time to develop a competitive proposal.
As any seasoned grant writer knows, starting a grant application well before the deadline is like prepping for a big party—you wouldn't want to throw everything together at the last minute and hope for the best!
To help, Instrumentl lists application deadlines at the top of each funding opportunity—including any deadlines for LOIs. Instrumentl will even add Predicted Deadlines for grants based on past data and will automatically notify you if anything changes.
For more tips on managing your grants timeline, check out this guide: Grant Writing Calendar: How to Better Manage Your Grants.
Understand Giving Averages and Medians
By this point, you should have reviewed everything in the “Funding Opportunity” tab and determined whether:
- You meet the grant’s eligibility requirements
- Your mission aligns with the funder’s goals
- You have enough time to develop an application
Don’t sweat it if it turns out the grant isn’t a good fit—you have lots of other matches to review! But if the grant does seem promising, your next step should be to dig into some key funder insights by checking out the “Funder 990 Report” tab.
Foundations must file Form 990 annually with the IRS. These forms contain a wealth of information that can help you discern whether a funding opportunity is a great match. However, 990s are notoriously dense and difficult to analyze.
That’s why Instrumentl does the heavy lifting for you by distilling this data into easy-to-read 990 snapshots.
If you scroll through the “990 Report” tab, one of the first things you’ll see is a funder’s past award amounts, including their minimum, median, average, and maximum grant sizes.
If you keep scrolling, Instrumentl will even show you data on how open a funder is to awarding grants to new grantees. As you can see in the graph below, over the past few years the Summerlee Foundation has awarded the majority of its grants to new grantees—which is great news if you’re a new applicant.
Not only can these 990 insights help you make an informed “ask” in your proposal, but they can also help you determine whether a funder’s giving history aligns with your funding needs.
Identify Similar Nonprofits
Within the “Funder 990 Report” tab, you’ll also see a Past Grantees section. Here, you can see the who, what, and where of a funder’s yearly giving.
Within this section, you’ll find a list of organizations a funder has given grants to in the past, including their location, funding purpose, and grant size.
By looking at past grantees, you can see whether the funder has awarded grants to organizations like yours in the past. These crucial insights allow you to prioritize funding opportunities with the highest likelihood of success.
For more tips on finding promising grant opportunities, check out this guide: How to Find Foundations Giving Grants To Nonprofits Like Yours.
Additional Tips for Efficient Grant Research
To further streamline your grant research process and increase your chances of success, consider these additional tips:
- Don’t Force Fit: Focus on funders whose giving priorities align with your project. Trying to force grant fit is a waste of time and effort.
- Create a Research Schedule: Allocate specific times in your calendar for grant research. Consistency is key, and having a dedicated time ensures that you stay on top of new opportunities without feeling overwhelmed.
- Set Alerts for New Opportunities: Be sure to allow email notifications from Instrumentl when there are new matches. This way, you will be made aware of fresh prospects and not miss deadlines.
- Prioritize Your Efforts: Focus your time and energy on high-potential opportunities. It’s better to submit a few strong applications than to spread yourself too thin across many.
- Keep Detailed Notes: For each potential funder, keep detailed notes in Instrumentl’s “Funder Notes” section.
Implementing these tips can make your grant research process more efficient, helping you identify and secure more funding for your organization.
Wrapping Up
By leveraging Instrumentl's comprehensive tools, you don’t have to search high and low for grant requirements. Everything you need to determine grant fit is easily accessible in one place.
This streamlined process saves time and allows you to prioritize the highest ROI opportunities. Sign up for a free 14-day trial today to transform your grant research and application experience.
