You need only scan the headlines to see nonprofits operate in a rapidly changing world that is full of unexpected situations. In order to adapt quickly to changes, it’s important for organizations to build multiple funding streams that provide stability and flexibility. Your strategic planning should include a top-down approach to creating the best funding mix to support your mission.

Grant funding is a large and growing part of the strategic funding plan for nonprofit organizations. According to Wikipedia, “A grant is a fund given by an end entity—often a public body, charitable foundation, or a specialized grant-making institution—to an individual or another entity…for a specific purpose linked to public benefit. Unlike loans, grants are not to be paid back.”

A significant, and potentially renewable, source of funds that do not have to be repaid? Yes, please!

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