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Before the Intro

Yesterday, we published “The Art of Discovery” as an introduction to the discovery process for funders and nonprofits. It includes some considerations, approaches, and questions that your organization might take to improve your odds of forming positive new partnerships. But how do you know when you’re ready for the discovery process?

Partnership formation can be complex, expensive, and time-consuming on both sides. Not all partnerships are created equally, and almost all partnerships have a time limit. If you want long-lasting partnerships that take your organization to the next level, it is essential for both the funder and the nonprofit to prepare before meeting.

A bad partnership between funders and nonprofits can have negative consequences for both parties. For funders, it can result in a waste of resources and a loss of trust among peers, making it difficult to provide future funding and giving both sides a bad reputation. For nonprofits, a bad partnership can result in a loss of funding and support of other funders, which can severely impact their ability to carry out their mission and serve their communities. Most of all, bad partnerships can hinder positive impact, causing major issues to go unaddressed.

Preparation de-risks your organization for any partner while also building confidence in the impact of your work – setting potential partnerships up on the path toward success. For the nonprofit, preparation involves clearly defining its mission, goals, and programs or services, as well as developing a detailed plan for how the funds will be used. This includes creating a compelling case for support that explains why the organization is worthy of funding and how the funds will be used to make a positive impact. The nonprofit should also anticipate and prepare for any potential challenges or obstacles that may arise during the partnership. For the funder, preparation involves clearly defining its mission, goals, and priorities for charitable giving. This includes developing a plan for how funds will be allocated and identifying areas where the funder can make the greatest impact. The funder should also develop a process for evaluating and selecting organizations to receive funding, and anticipate and prepare for any potential challenges or obstacles that may arise during the partnership.

Preparing before a meeting between a funder and a nonprofit seeking investment is essential for ensuring a productive, successful partnership that makes a positive impact.

What should nonprofits prepare before seeking new funding?

What should funders prepare before seeking nonprofits to invest in?

Thorough preparation and strong documentation can help to lay the foundation for a successful partnership between funders and nonprofits. If you need help getting started or would like feedback on your work, you can contact Orgmatch and our team will be happy to help you.

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