Keeping Track of Your Funding Prospects

So you’ve used GrantStation’s database or done your own research to identify great grant opportunities. Now, how do you keep track of all these funding prospects? Here’s a step-by-step guide to staying organized.

1. Create a Grant Tracking System

First, get organized! Set up a tracking system—whether a spreadsheet or specialized software—to record key details about your grant applications. If you have a GrantStation Membership, you can use your dashboard to track your prospects. Your own tracking system could include:

• The funding opportunities you have identified
• The funders associated with each grant
• Contact information for the grant funders
• Application deadlines
• The amount of funding to be requested
• The current status of each grant (pending, not yet started, in progress, etc.)
• The type of funder (e.g., family foundation, community foundation, federal government)

Once you start receiving responses, expand your tracking system to include:

• Confirmation of awards or denials
• Amounts received
• Next steps requested by funders
• Required deliverables and their due dates
• Reporting obligations
• Reapplication deadlines

If you're new to grant tracking, consider using pre-made templates, which you can often find for free online.

2. Design a Grant Pipeline

Once you’re comfortable tracking grant applications, refine your system by separating confirmed grants from potential ones. Creating a dedicated pipeline for awarded grants helps you monitor their progress more clearly. There are many grant tracking software options available to streamline the process once your initial organization method becomes too cumbersome. 

3. Set Up Alerts

To stay on top of deadlines, implement reminder systems. For small organizations, calendar alerts work well. Larger nonprofits may benefit from task management tools to assign follow-ups and ensure accountability.

4. Regularly Review and Improve

Tracking shouldn’t stop once you receive funding or complete a project. Continuously evaluate your grantseeking efforts. Key metrics to monitor include:

• Success Rate: How many applications result in awards?
• Award Amounts: What is the average grant size, and how does it compare to the requested amount?
• Efficiency: How much time does your team spend on each grant application? Is the return on investment worth it?

Beyond numbers, hold regular team reviews to refine your grant strategy. Discuss which approaches work best, what needs improvement, and any shifts in funding priorities. GrantStation is always here to support your efforts with resources and funding directories.

5. Fulfill Your Grant Requirements

Almost every grant awarded comes with reporting obligations. Missing deadlines can impact future funding opportunities. Track reporting deadlines carefully, assign responsibilities, and develop templates to ensure all necessary details are covered.

6. Maintain the Human Connection

Grants are about more than just funding—they’re about relationships. Keep communication open with funders:

• Send thank-you notes at every stage—whether for considering your application or awarding funds.
• Provide updates on how their support is making an impact.
• Log all interactions (calls, emails, meetings) to maintain a history of engagement.
• Document any feedback funders provide, as it can help improve future applications.

With strong tracking, continuous improvement, and proactive relationship management, you’ll become a master grantseeker, setting your nonprofit up for long-term success. If you have any questions, don’t hesitate to reach out!