Funding Sources Paper

Essay by bamandbonnieUniversity, Bachelor'sA, November 2009

download word file, 2 pages 0.0

University of Phoenix/BSHS/452 September 27, 2009 This paper will discuss the following by explaining the match between human service agency goals and funding guidelines, the importance and process of established social service agency and funder collaborative support toward securing funding and Requests for Proposals (RFPs) and funding agent guidelines. Agencies requesting funding must meet 501C nonprofit status pursuant to the IRS code and a copy of the IRS determination letter shall be submitted with the request for funding. Agencies requesting funding must submit financial statements, Profit and Loss Statement, and/or budget for current program year and the budget for upcoming program year indicating the source of all revenues including use of facilities and other non-monetary donations. Agencies and organizations requesting funding must demonstrate that they have provided service to city residents for at least one year prior to the application for funding. The best way of successfully securing finances is to have a very clear business plan that evidences why the agency needs finances and how they plan to use the money.

This should include a cash flow estimate demonstrating how the agency plans to repay any future finances. The clearer the plan is the more success the agency will have in securing finances. The agency is required to show good faith efforts to secure funding for programs/services from other sources. In efforts to keep money coming into the agency, funds may be sought (and granted) that in fact distract resources away from the ideas that are most important to the agency's success. The agency should be selective about what funding to pursue. A request for proposal (referred to as RFP) is a request for providers, to present a proposal on a precice product or service. A request method is one of the top techniques for influencing...