Grant Writing Consultants Key Terms
Understand grant writing consultants key terms to find the funding that you needGrant writing has become a specialized, competitive business and many organizations are hiring professionals such as grant writers or grant consultants in order to qualify for more grants. As funding dollars are slashed, many businesses find that they need professional help to secure grants.
Understanding grant writing consultants key terms allows you to hire the right consultant for your organization by helping you understand the services offered. Knowing some basic grant writing consultants key terms can also help you communicate with your grant expert about the different parts of your grant application.
Grant proposalThe grant proposal is a formal request for money from a granting agency or organization. In essence, the grant proposal outlines why your group should receive the funding money being offered. The strength of the grant proposal is often the deciding factor in determining who will get a grant, which is why it often pays to have professional assistance.
Grant application packageA grant application package is a file containing all the elements of the grant proposal and funding request. It contains information about the grant itself and includes details about the budget and the proposed project that the grant will pay for. To successfully apply for a grant, it is essential that your grant application package be complete and contain no errors. Many organizations hire grant consultants to compile the best possible packages.
501(c)3501(c)3 is the status that defines an organization as a non-profit. Many grants are available only to organizations that have the 501(c)3 status and some consultants specify that they only work with these organizations.
Letter of Inquiry (LOI)Many grants now require a Letter of Inquiry (LOI) before requesting a full proposal. This allows the organization offering the grant to pre-screen applicants quickly. LOIs are challenging because they require organizations to outline their projects in a short letter. Many grant consultants and grant writers are hired to help organizations compile such letters.
Pima County Public Library has a useful explanation and samples of LOIs.
Grant researchGrant research involves finding out more about a grant and an organization offering a grant. Often such research can help an applicant find the most successful angle for a proposal or can help generate ideas for a proposal. Many grant consultants offer some form of research service.
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