What to Look For: The Foundation Prospect Worksheet

The Foundation Prospect Worksheet  is an invaluable tool for guiding your foundation research. This document should also be the first thing in the file folder you create for each foundation. Below find a list of definitions/explanations useful in completing the Foundation Prospect Worksheet.


Financial Data

All of the required financial data can be found at the Foundation Center Online Database and Guidestar.

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Total Grants Paid — Use the figure from the most recent IRS Form 990

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Grant Ranges/Amount Needed — Using the most recent IRS Form 990, identify the smallest grant awarded and the largest grant awarded. If these two extremes seem to be anomalies, make a note of it and include the range that most grants fall into. Compare this with your amount needed.

» Period of Funding/Project - Most foundations fund one year at a time. However, some foundations allow for renewable grants (applications in consecutive years) others will not allow for funding in consecutive years. The period of funding can usually be discerned easily by looking at the final report requirements.

Is the Funder a Good Match?

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Subject Focus — Each foundation listing in the Foundation Center Online Database includes a list of key focus areas in order of importance. It is important that before beginning your research you identify your organizations three key attributes. For instance a theater might identify their focuses as: Performing Arts/Theatre, Shakespeare/Classics, Education/Outreach. What this tells a donor is that the organization is a theater organization with a focus on the classics and a major program in education/outreach. In truth, it is not always necessary to match all three of your focuses to that of the foundation. By examining the IRS Form 990, you will get a very good idea what type of organizations the foundation is likely to fund.

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Geographic Limits — Most foundations limit their funding to certain cities or states. Your organization need not reside in the funding area, but it must provide the funding area with a significant number of services.

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Types of Support (Most Common)

  • Operating/Annual Support — This type of funding is unrestricted and may be allocated to any of the organizations mission-related expenses.

  • Project Support — This type of funding is restricted and must be applied to a certain project that the organization offers. For instance, a grant written and funded for an education program must be spent on that program. Funding may not be received until after the completion of the designated project.
  • Capital Support — This type of funding is restricted and must be applied to the cost of acquiring or improving an asset

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Population Served — Some foundations require that a certain demographic population (children, seniors, African Americans, Appalachian, etc.) make up a significant percentage of your audience (as determined by the foundation).

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Types of Recipients — Some foundations are open to all applicants. Most restrict the applicant pool in some way including restricting individuals, serving only students (scholarships), restricting unsolicited proposals, etc. Keep in mind, that if a foundation does not accept proposals unsolicited, they will contact you if they are interested in your organization. Most funding of this type comes from a personal relationship between the foundation and your organization.

» People — Capture all parties involved in the operation and governance of the foundation from the IRS Form 990.

Application Information

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Printed Guidelines/Application Forms — Some foundations will require that all proposals conform to their application forms. Others will simply offer guidelines that detail length of proposal, required information, and/or supplemental materials required. If a foundation does not specify a format for proposals and does not limit the length of your submission, it is highly recommended that you utilize the Greater Cincinnati Common Grant Application. The Foundation Center Online Database lists relevant application information.

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Initial Approach — Foundations are usually specific about your first contact with them. Some require that you write to receive their guidelines/application form. Others simply want to know who you are before they receive your proposal. Some simply want your proposal. It is a good idea to send a letter of approach unless the foundation specifically indicates that the proposal must be the first contact. The Foundation Center Online Database lists preferred method of initial approach.

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Deadlines — Many foundations have moved to a rolling application system. This means that applications are reviewed at the Board meeting following receipt. Other foundations have quarterly, semiannual, or annual deadlines. Often, a proposal received after the deadline will not be reviewed. The Foundation Center Online Database lists all relevant deadlines.

» Board Meeting Dates — Often this information goes hand-in-hand with deadlines, especially with regard to foundations that accept applications year-round.