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How to Turn Funders into Your Project Stakeholders

There is a relationship between funding agencies and their grantees. The most successful grantees nurture those relationships. There are many reasons that this is a worthwhile effort.

  • Establish Credibility – Managing a successful grant early in the design and construction process establishes credibility of your organization for later (and larger) grants. This credibility applies both to the original funding entity and to others that may fund later phases of the project.

 

  • Cultivate Project Champions – Funders that have been involved in successful early phases of the project are more inclined to support later phases in the process. Being involved in multiple phases of a project will naturally turn a funder into a stakeholder and, hopefully, a champion for your project within the larger funding community.

Understanding where your project is in the design and construction process is important to understanding its potential for outside capital grant funding. If you wait until your project is in the construction phase, not only have you missed other opportunities for funding, it’s likely too late to even secure construction funding. Therefore, it’s never too early to nurture your relationship with funders.

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