Do You Need a Funding Plan?
Introduction to the Six Steps
Step 1: Establish Priorities
Step 2: Assess Capacity
Step 3: Set Fundraising Goals
Step 4: Identify Funding Sources
Step 5: Evaluate & Select Funding Sources
- Fundraising Environment
- Estimated Returns
- Key Evaluation Questions
Sample Finance Plans
List of Case Studies
References & Additional Resources
Step 5. Evaluate and Select Sources
Now that you have seen the variety of funding sources available, the fifth step is to evaluate those sources and choose the ones that best meet your needs.
There are four main factors to consider in making your decision:
- Environment. Knowing your fundraising environment will help you make smart choices.
- Diversity. Choosing a diverse set of public and private funding options will ensure stability of your organization.
- Estimated Returns. Knowing how much to expect from your sources will ensure that you can meet your fundraising goals.
- Sustainability. Choosing funding options that are likely to continue will improve the long-term viability of your organization.
In the following pages, we will go through each of these factors in detail, and provide a set of questions you should ask yourself before choosing any source of funding.
"Today, diversification of support is vital,
and no organization can hope to finance
its work successfully from any one source."
- The Foundation Center24
Citation: See Resources, Works Cited #24