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As a grant seeker, you probably know foundations are required by the Internal Revenue Service to expend at least 5% of their previous year’s assets on charitable giving. But because every foundation is allowed to create its own set of rules surrounding their funding, grant seekers need a means to understand each funder’s process.
If grant professionals could waive a magic wand, foundations would be required to have a website with a few minimum requirements. Specifically, telling grant seekers:
- Whether or not you accept unsolicited proposals
- What information you require in an application
- The deadline(s) for applications
- Who sits on your board of directors
- What the geographical restrictions or focus areas are
- Where to submit applications
- How to contact the appropriate person with questions about your grant process.
But alas, so many foundations do not have a website. Even the foundations that do have websites are not always the most helpful. But thanks to the IRS you can also find some basic information. Right?
Well, you used to be able to find it. And herein lies the latest problem.
If you find a funder’s federal Form 990, you can scroll down to the Supplementary Information section and find the basics. At the very least, grant seekers would know if the funder accepts unsolicited applications, where to send an application, what to include in application, deadlines, and any restrictions.
