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Multiyear funding—support that funders commit up-front for multiple years—is a key to strengthening nonprofit effectiveness, capacity, and impact. These grants guarantee income streams, lessening the time grantees need to fundraise so they can better carry out their missions. In a tough economy, when many foundations are cutting grant budgets and reducing their number of grantees, committing scarce funds for a longer time frame is particularly valuable.
Exponent Philanthropy members see the usefulness of multiyear grants in supporting a range of activities. Says Brigitte Lehner Kingsbury of the Orchard Foundation in Maine:
“Ask yourself of a potential grant request, ‘Do you really think this can be done in one year?’ If it can’t, why not make the commitment?”
7 Key Benefits of Multiyear Funding
The sector has long recognized the benefits of multiyear funding, including its usefulness in:
- Fulfilling specific goals
- Attracting additional funding
- Building grantee capacity
- Funding advocacy
- Reducing administrative burdens
- Accelerating equity
- Supporting new ventures
Read the full article about multiyear funding by Hannah Smith at Exponent Philanthropy.