Securing philanthropic funding is crucial for not-for-profits to make a step change, realise their purpose and operate sustainably. However, approaching grant funding as sporadic, transactional income injections can waste precious energy and runs the risk of losing traction for the organisation.
Re-framing the dynamic as a partnership not only aligns your goals with those of the funders but also fosters a more collaborative and effective approach to achieving social impact.
Perpetual’s IMPACT Philanthropy Application Program (IPAP) serves as a current example of a grant program with clear submission guidelines and criteria that are typical across various funding opportunities.
The program focuses on four key pillars: Strategy, Leadership, Capability, and Outcomes. Taking the time to understand why this is strategic for the funding provider and how your organisation’s initiatives contribute to the broader, systemic issues positions you not just a as a recipient, but as an enabler. Approaching these pillars through a collaborative lens can significantly strengthen your application.
So, how do you do that? To assist you, we’ve gathered insights shared by Dr. Jack Noone (Centre for Social Impact) and Paula Cowan (ImpactInstitute) at the recent Social Impact Summit Quarterly on creating sustainable partnerships.
Shared values and mutual respect
Shared values and mutual respect are crucial, especially when partnering with corporations. Highlight in your application how your organisation and potential collaborators share values around efficient resource utilisation and a commitment to measuring impact.
This alignment demonstrates strong capability by showing funders that you are committed to using resources wisely and tracking progress towards achieving your purpose.
Shared values around data collection and analysis further build trust by demonstrating accountability and a focus on achieving measurable outcomes.
Open agenda and transparency
Transparency is key to building trust and demonstrating strong leadership capability. Openly communicating potential benefits and risks with partners builds a culture of shared responsibility and demonstrates a proactive approach to mitigating challenges.
Highlighting examples of this in your grant application shows your organisation understands the external factors that can affect its work and is prepared to address them.
Collaboratively developing risk mitigation strategies showcases your commitment to stability and sustainability, assuring philanthropists that their investment will have a lasting impact.
Prioritising lived experience
Centring the voices of beneficiaries is crucial for developing impactful solutions. Emphasise how your organisation meaningfully engages beneficiaries in all stages of your programs, from design to evaluation.
This participatory approach demonstrates a commitment to inclusive practices and a deep understanding of the social issue you are addressing.
A robust evaluation strategy
A well-defined evaluation strategy is critical for demonstrating the outcomes of your work. Clearly outline your evaluation questions and methodology in your application, highlighting your use of both quantitative and qualitative data to capture the short-term, medium-term, and long-term effects of your initiatives.
This demonstrates your commitment to learning and improvement, which is essential for building trust and demonstrating the effectiveness of your programs.
Investment in relationship management
Successful collaborations require ongoing investment in relationship management. Allocate dedicated resources to fostering communication, building trust, and proactively addressing challenges.
This commitment to nurturing partnerships showcases your understanding of the importance of strong relationships for achieving long-term and sustainable success.
By incorporating these insights into the way you approach accessing grant funding, you demonstrate your organisation’s commitment to building and sustaining impactful partnerships.
Remember, successful collaborations are built on shared values, open communication, and a genuine commitment to maximising impact for all involved.
Need support enhancing your social impact strategy?
Whether it’s social impact strategy, measurement, or evaluation services, we partner with you to strengthen your approach and maximise your outcomes. Learn more.