Why data matters for your grantmaking

Just words on your website or leaflet isn’t enough anymore. You need solid information to prove the quality that you have as a grantmaker in order for grant seekers to have trust in you and the foundation you work for. This is where data will come to the rescue. Data is already existing information based on the performance and information you have been collecting. This will show grant seekers accurate information of what exactly your foundation does or give grants to.

For your foundation

Records of information will allow the grant seekers to see what types of grant you normally make. Documents that shows records of what you did previously will give the grantseekers the trust in you and choose to seek a grant from your foundation.
Statistics or previous reports will help you identify the existing problems of the grantseekers and what you as a grantmaker can do to help the grantseekers. It will help you make informed decisions towards possible solutions.

For your role as a grantmaker

Collective information will help you understand what grantseekers are looking for and your job as a grantmaker is to know their needs in order to provide the right support.
If you have been storing data from the previous grant applications, you can see the pattern in each application and make decision based on the details you have collected. It can help you make a better decision for future applications. Data shows the result in each types of applications.
Reports of previous success results will allow you to see what types of grant applications you need to focus on rather than grants that will not succeed with its objectives.
Data is used to inform decision making, tailor services to meet people’s needs, and guide the allocation of scarce resources into approaches that work.

For the grant seekers

Without any visual aid or solid evidence, it will be hard for grant seekers to trust in your grantmaking experiences. Reports will prove what you say about the quality of your work as a grantmaker as data collected is based on what has previously happened.
Results of previous grantmaking decisions have answers to many questions that grantseekers may have regarding the foundation that you work for. Take this as an example, is your foundation reliable? They can analyse the answer by looking at the data you have. Every individual will interpret meanings differently. Data will allow them to answer their own question.
There you have it, many reasons why data matters for your grantmaking. For more articles like this, don’t forget to subscribe to Optimy newsletter and you will never miss out on any updates!

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Sources: Forbes and Husson University.