It’s hard to know where to start when setting up a not-for-profit organisation for the first time. We’ve developed this handy list of where to go and what to do to ensure you have the best chance possible of successfully seeking funding.Once you’ve completed the items on this list, don’t forget to touch base with our team to see how a Funding HQ membership would benefit you.
- Have you established your organisational structure and registered with the company’s office?
The Companies office sets out what is required to register a company. It also provides information on different types of organisation structures. Click here for more information.
- Are you a registered charity, incorporated society or a charitable trust?
Depending on your type of organisation you may need one of these or not. There are some funders who will only give money to registered charities. Find out more about registering as a Charity here.
- Does your organisation have a bank account?
This is a requirement to apply for funding.
- Do you have access to copies of your company’s Financial Accounts?
You will be required to produce up-to-date financial documentation and budgets in your funding application. This information is used to generate a full picture of your funding requirements.
- Do you have access to key company documents that set out your organisation’s purpose, goals and strategy?
You will require the following documents to complete your compelling case. Having an up-to-date compelling case for funding will assist you immensely with all funding applications.
- Company charter and constitution
- Strategy Alignment – more information here.
- Company business plan/strategic plan
- Minuted Trustee and Advisory board meeting minutes
If you are a Funding HQ member, go to the resources page to find links to information and tools to help you with developing your documentation. If you are not a member yet, find some useful links below.
- Do you have access to copies of minuted Trustee or Advisory Board Meetings?
These meetings may vary in frequency. Your company charter or constitution will set out how often they are held.
- Do you have systems and processes set up to support the distribution, management and reporting of your funding?
As a requirement of receiving funding, you will need to report on what you have spent it on and when it is going to be spent and an accountability report structure for each fund. Should anything with your organisation change within the funding period you will need to indicate this to your funder.
Now that you have completed the steps above, it’s time to think strategically. To be successful in fundraising takes time and commitment. What you put in, you will get out. Answer the questions below to discover if your organisation is ready to fundraise.
- Do you have access to good information on your customers?
- Do you have a fundraising team or committee to carry out the work and activities involved in fundraising?
- Do you have annual fundraising targets for the organisation?
- Do you have an annual fundraising plan which shows how much you want to fundraise, what you want to use the funds for and the time period you will use the funding for?
- Do you have dedicated time and energy, a minimum of 2 hours per week, to work on the platform and complete the associated activities?
- Do you have an organisational culture that will support fundraising activities?
- Do you have a good idea of the benefits that being a funder of your organisation provides?
After completing this list and answering all questions, do you feel ready to start your fundraising journey? If yes, get in touch with one of our fundraising experts to take a guided tour of Funding HQ.