Could Funding Be The Game-Changer Your NFP Needs?

Research has revealed that lack of funding for the Aussie not-for-profit (NFP) sector results in less-effective operations and reduced impact among communities in need.

As a result, philanthropic support of vital community projects is now increasingly important to address these critical funding pressures.

IMB Bank Community Foundation is the philanthropic arm of IMB Bank, and it shares tips for community groups and NFPs to help unlock financial support.

It has donated more than $11.5 million over 24 years to more than 850 grassroots community organisations and projects, expanding services and addressing the needs of locals - at times when they need it most.

This year, the Foundation is offering $700,000 in grant funding for community change-makers across NSW, ACT and Melbourne.

For community champions heading local charity projects in their area, grant funding can be the leg-up that drives real and profound change, improving the lives of many.

Ahead of its 2023 funding submission deadline on June 16, IMB Bank Community Foundation has shared helpful grant application tips:

Research grants

There are a number of grant funding programs available.

The NSW State Government offers grant funding for NFPs for rebuilding, community outreach, environment and more.

Funding from the corporate sector, such as that offered by IMB Bank Community Foundation, is another avenue that NFPs can investigate to fill the funding gap.

Know what you want to do with the funding

Review past projects to understand the types of projects that have been supported in the past to help draft your application.

Know what it is you want your project to do - who will you be helping, what local need will it addresses, and how will it benefit locals? Make sure you meet the eligibility criteria.

Sort documentation and images

Compile relevant documentation to support your application and have supporting evidence such as statistics about local challenges, the needs of community members, or evidence of success with similar projects.

Be the community change-maker

Champion the work that your group or project has achieved and the benefits to the community.

Highlight real local successes as a result of your efforts and ways in which new funding will boost future expansion, participant experiences, or forms of sustainable progression.

Get in quick and before the deadline

Avoid applying on the last day.

Unexpected events may occur - there might be technical glitches, other priorities may arise, or you simply don’t have the time to input the extra detail that will make your application stand out.

Most grant-funding organisations understand that complications can arise at the last minute.

If you come across a hurdle or have any questions, be sure to reach out via phone or email to explain your situation.

However, as a general rule, take note of deadline dates and apply well in advance.

If you think your project can make a difference in your community, seek out grant funding to take it to the next level.

Community groups can apply for 2023 IMB Bank Community Foundation grant funding through IMB Bank Community Foundation via www.imb.com.au/community.

Applications close June 16.

Get more tips and hints on applying for grant funding with the IMB Bank Community Foundation from their Guide to the Application Process.

• Topics:

• Community
• Finance
• Local Business / Economy