Grant-Making Policies
Grantmakers award grants to nonprofit institutions that provide community services to further the philanthropic mission of the grant-making institution. A grant maker may be a government body, a nonprofit charity, a foundation or a corporation. Effective grant-making policies ensure that the grants are awarded wisely.
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Mission
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Grants should state a clearly defined purpose or mission, and set specific, understandable goals. Well-written guidelines help grant seekers write grant proposals that are aligned with the purpose of the grant.
Communication
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Strong grant-making policies clarify which methods of communication will be used to attract grant proposals from nonprofits that seek funding. Communication methods do not need to be costly.
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Compliance
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State and federal laws govern philanthropy, which involves giving money or services to people or communities in need. Grant makers should ensure that the grants comply with state and federal laws. Establishing and following ethical principles helps to retain the public's trust in the grant-making institution.
Results
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Grant-making policies and practices should focus on the desired results, and have a strategy for tracking and measuring those results over time. A process for self-evaluation should be created to determine whether the grant making has been effective.
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References
Resources
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