Foundation funding is an option to be considered, particularly when projects have a public dimension. Foundations vary from those with vast resources and significant experience funding higher education (such as the Rockefeller Foundation or the Mellon Foundation) to small family-owned foundations aimed at addressing public needs. All foundations, however, have a specific set of guidelines or priorities that guide their funding decisions. As you research foundations, look for significant overlap between your project and stated foundation priorities. Also check previously awarded projects to gauge how well your project aligns with a given foundation's priorities.
Use Internet databases, 990 tax returns, and foundation websites to learn about the funding priorities, amount of giving, geographic location of giving, and giving histories of specific foundations.
Foundation Directory Online
This searchable database holds information on more than 80,000 foundations. It provides information on foundations' and corporations' funding priorities, past grant recipients, and current RFPs, and more. It can be searched using keywords, locations, foundation/corporation name and so on.
Minnesota Council on Foundations
This organization offers subscriptions to a searchable database of Minnesota foundations. Non-subscribers can gain access to some information about Minnesota foundations.
Once you've have found a foundation whose funding priorities are a good match with your project, you'll need to learn as much about it as you can. Check their website and google the foundation to learn about other projects it has funded. If you know people who have received funding from the foundation, contact them to learn about their experiences with the foundation.
NB: Foundation websites which describe their funding priorities and proposal guidelines should not be treated as RFP's. Foundations refine/shift their priorities all the time, and it is better to open up a conversation with the foundation before you put time into developing a proposal than to write up a terrific proposal and send it in only to learn that the foundation is cutting back on their funding in your area. Think of the information you glean from a foundation website as that organization's initial contribution to a conversation; it is up to you, as a grant-seeker, to engage that conversation.
Important: Foundations can receive hundreds of inquiries and proposals annually, and many foundations, not surprisingly, ask that large institutions coordinate their inquiries through a specific contact person or office rather than peppering them with multiple individual faculty queries.
Before you approach a foundation, you must submit a Call Report to the University of Minnesota Foundation. (If the foundation has issued an RFP, you do not need to request a call report.)
The resulting report will have useful information on the following:
To submit a call report, contact a Grants Consultant. Once your inquiry has been submitted, it should take only a few days to obtain the information you need. Work with your Grants Consultant to develop a plan for approaching the foundation.
Initiating Contact with a Foundation. In most cases, initial contact will be an email or phone call to a program administrator or a brief letter of inquiry (LOI). Foundation websites often provide guidelines for making these initial inquiries.
LOI's must be carefully drafted to address the funding priorities of the foundation.
Once you have a response to your LOI or other “go-ahead” from the foundation, draft your proposal.
Other people who can be helpful as you develop a relationship with a foundation, are Jan Gerstenberger, Director of Corporate/Foundation Relations (email@example.com or 612-624-8374) and Mary Hicks, Director of CLA External Relations (firstname.lastname@example.org or 612-625-5541).
Reminder: Because foundation monies are almost always awarded to the University (not individuals) all proposals, whether unsolicited or responses to RFP's, must be routed through the Sponsored Projects Administration office. Their deadline for foundation proposals is currently 48 hours prior to the sponsor deadline.