If an 18-year-old student with no credit history and no money in their bank account apply for a mortgage, they will likely be unsuccessful. This individual is not mortgage-ready. However, if a middle-aged person with established finances and a history of credit success applies, they will most likely land the mortgage – they are mortgage-ready. Like the 18-year-old student, a nonprofit organization may not be ready to apply for significant funding.
As consultants, we often work with nonprofits that may not yet be grant-ready and aim to educate them on what is required for competitive applications. We attempt to steer clients toward other fundraising opportunities when they are not grant-ready. However, sometimes our clients still want to press forward with grant submissions. We are very transparent with our clients on their chances based on where they are in their lifecycle and operations. We do everything we can to meet our clients where they are and provide fundraising alternatives. Still, if a client insists on undertaking grants, we will work with them, knowing it is an even more complicated process for them to be funded, negatively impacting our success rate.