Partner ~ Step 1b: Think best practice
Ever wonder the top ten best practices for applying to Bridgeway? Try these out:
1. Understand Bridgeway's philanthropic interests, and align your project to these.
This website has been created to allow potential grantees the opportunity to know what our priorities and interests are. We encourage you to review these and position your project to respond to what we have stated are our goals and objectives.
2. Take time to carefully develop your application.
Plan to dedicate blocks of time where you can focus and think through the development and implications of your project. Give your work to someone else to proofread and offer constructive criticism. Think through your project's plan for sustainability and impact, and your organization's readiness to meet these challenges.
3. Design projects that are leveraged, scalable, and allow for partnerships.
Projects which are multiplied due to leverage or scalability make a partnership more appealing. The same can be said when projects are undertaken with several organizations working together for maximum impact.
4. Design projects that are realistic.
Be careful not to paint too rosy a picture just to attract funding. If a project is not designed realistically, reporting back on failing to achieve goals is never pleasant. Under-promise and over-deliver.
5. Design projects that are measurable.
We are always asking ourselves what is the social and spiritual return on investment (SSROI) of your project. Defining these outputs in simple terms allows us to concretely grasp what will be achieved over the course of the grant.
6. Approach Bridgeway with the right person.
We'd like to get to know the Executive Director and/or the Director of Development of your organization as they are used to communicating the broad picture of your organization's goals. Program staff are often focused on a particular program, and outside grantwriters or consultants do not typically have an intimate knowledge of the organization.
7. Ask for a reasonable amount of money over a reasonable term.
Bridgeway's average grant size is between $20,000 and $35,000. We don't like to grant larger than 10% of an organization's annual revenue. As well, first-time applicants should seek a grant with a duration of 12 months. We like to give longer-term grants, but only to organizations who have earned our trust over a longer period of time.
8. Make sure your financial statements are audited.
Having an independent accounting firm audit your statements is one way to assure outsiders of your organization's financial integrity. We recommend that any charity with revenues larger than $250,000 take the plunge and make the investment in an audit.
9. Don’t assume an annual, ongoing funding partnership.
We don't want to create a dependency on one limited source for your funding as Bridgeway's support takes you to the next level (through capacity building) or expands your horizons (through innovation). As a grantseeking organization, you must develop competencies which tell your story and acquire long-term financial partnerships from individuals and corporations. We sometimes fund an organization in consecutive years, but it should not be counted on.
10. Follow Bridgeway’s process.
Our process has been designed after years of experience and in consultation with larger grantmakers than us. Developing an application for Bridgeway will allow you to produce material which you can use for other funding applications; it will allow you to think through your strategy, process, and outcomes. We try to make it simple and straightforward, understanding that your time is valuable.
