Can startups and grassroots organizations access funding through grants?
Yes, however, Seed Money grants are typically small dollar grants that are intended to “grow an idea”.
Important things to remember when applying for seed money:
• Funders will look for a level of expertise and experience consistent with the level of funding requested.
• Many organizations seek legal counsel when establishing their nonprofit. Legal counsel may not be necessary. You may be able to do it yourself. There are 12 steps to establishing a nonprofit. Do not skip a step; these steps make your nonprofit solid and creditable. Go to the Foundation Center website at http://www.foundationcenter.org for step-by-step instructions.
• Typically, grant awards are restricted to nonprofits that have an exemption certificate which is known as a 501 (c) (3) issued by IRS and have a financial system based on standard accounting procedures. IRS guidelines can be found at http://www.irs.gov.
Getting a tax-exempt status can take up to one year. In some cases, it may take longer. There will also be filing fees that you will need to cover.
Good luck and best wishes,
Believe in possibility and in yourself!