FoundationSearch is working to take some of the work out of this process, by providing a method of calculating the ideal ask amount automatically, for each funder. Built into its analytic tool for finding the “best funders” for your project, a recommended ask amount is calculated on a foundation by foundation basis by your stated funding category and location.
The system reviews the entire granting history for each of your Foundation Directory Online prospects, selects the historic grants that most closely match your project parameters, and calculates the median, maximum and minimum grant amounts made by the funder. The median (middle) grant amount is selected as the “recommended ask amount.” Users can click the amount, and easily view a chart (like the one shown above) of the relevant historic grants and see in which range most of the grants fall.
By asking for a grant amount that is in the middle of the amounts previously granted by the foundation, you lessen the risk of your request being rejected, and you stand a better chance of securing the grant from the foundations you approach. With a list of the best funders, and the optimal amounts to ask from each funder, you are in a much better position to succeed in your nonprofit fundraising efforts.
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