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MARQUETTE -- Several non-profits from the area gathered at NMU tonight to learn how grantmakers think. The goal was to show charities how to increase their funding by understanding the foundations that provide it.
One tip is that non-profits should have a diversified revenue stream. For example, having multiple funding sources in place like grant money and donors helps an organization be more sustainable regardless of what happens with the economy.
Also, people learned that foundations have become more strategic in their grantmaking.
Matthew Downey with the Johnson Center for Philanthropy at Grand Valley State University says, "So, paying attention to those trends, doing the research and understanding that foundations are a great form of strategic capital but not necessarily the best form of ongoing funding for the organization."
Forming relationships is also important. Set up a meeting with a foundation and ask them what they're interested in when it comes to funding.