You might have heard that the government offers grants or financial rewards to fund projects that can help improve public life. If you own or work for an organization in the public service domain, you too might be eligible for such grants. However, there are a few things to know before applying. This article gives you a better idea about government grants, ensuring your organization stands a better chance of getting them.

What are government grants?
A government grant is a certain amount of money the government pays organizations and individuals undertaking projects that may help society. Unlike a loan, you do not have to repay the amount. So, practically, it is a gift. The grant’s terms, amount, and other conditions are determined by legislation. It ensures that the process remains transparent.

There are three stages of the funding process:

• Pre-award
  In the first stage, the government announces available opportunities for a grant package. It is also called Request for Applications (RFA) or Request for Proposals (RFP). When this opportunity is open, you can apply for the funding, adhering to the guidelines set for the specific grant. The government will then evaluate the application and determine whether you are eligible for the financing. You will have 30 to 90 days to apply for the grant.
• Award
  The award phase is when the government decides that you are eligible. They notify you once the decision is made and fund the project. The evaluation time depends on multiple factors, such as project scope and agency.
• Post-award
  This is when you receive the money and implement the public service initiative you had proposed to the government. During this phase, you must update the governing body about how you are spending the fund through progress reports and project achievements.

Some might find the application work tedious as it involves extensive documentation. In such cases, it is advisable to consult with a professional and draft the application with their help.

How to apply for government grants?
When you find out about a government funding opportunity, the first thing to do is evaluate the RFA or RFP thoroughly. It will help you understand the grant’s terms, expectations, requirements, and fund allocation terms. If you think your organization is eligible, you may start applying for the funding. You must provide accurate information to the government to prove your eligibility.

The information about the government grants is available on Grants.gov. You can download the application forms from the portal and add collaborators to work with you. The form includes multiple queries regarding the project’s financial plans, program model, and the organization. It also requires information about budget, collaborations, essential staff, and other related factors.

After filling out the form, upload it on the portal and check if it has been accurately completed. Next, sign the application form online and submit it. Once submitted, download the submitted proposal for safekeeping and note down the reference number provided by the government. You can use it to check the application status later.

Advantages of government grants
Government grants have many advantages. Below is a list of the most significant ones:

• It improves your reputation as a trustworthy organization, making getting funds from other sources easier.
• It has been a reliable source of regular funding for years, ensuring stability for your organization and its public service programs.
• It provides your organization with significant money, strengthening the project and helping your organization grow.

Disadvantages of government grants
While the funding helps your organization in multiple ways, it also comes with a few disadvantages:

• The guidelines set high accountability benchmarks, which may seem too complicated for your organization to comply with.
• The grant comes with many responsibilities, such as preparing for audits, regular report submission, program data gathering, and fund tracking, requiring more commitment from the staff.
• The application process involves extensive documentation, teamwork, and months of preparation.

How to find government grant opportunities?
You can look for news about the funding opportunities from the following places:

• Grants.gov
  Federal organizations post news about available grants on this portal. You can either search the website for funding opportunities or create a search profile to receive notifications about availabilities.
• SAM.gov’s Assistance Listings
  This website provides information about grants that will be available the following year. The listings are provided yearly, providing time to prepare for the application process.

Government grants can significantly help an organization create substantial programs, but they also require hard work and commitment. So, be sure to research a grant thoroughly before applying.