Are you a foundation? Are you wondering what GrantAdvisor.org means for your organization? If so, please read the below FAQs answered by foundation executives for our peers on the value of GrantAdvisor.org and how foundations can use this data to better achieve their philanthropic goals.
Although designed with nonprofits in mind, GrantAdvisor.org is a valuable resource for foundations as well. Here are four reasons that GrantAdvisor.org is useful to your foundation.
1. Feedback: GrantAdvisor.org offers the opportunity to hear directly from your majority stakeholders (i.e. grantees). Listening to unfettered feedback from grantees can help funders build more efficient processes and more effective partnerships, which ultimately increases impact.
2. Benchmarking: With a common set of questions for every foundation, GrantAdvisor.org allows foundations to compare their reviews with those of their peers. This comparison can help foundations benchmark the effectiveness of their grantmaking practices. Moreover, rather than simply measuring what other foundations are doing, GrantAdvisor.org specifically allows you to assess and compare what works best for grantees. By focusing on the grantee experience, GrantAdvisor.org is the best source for feedback on what works and what doesn’t when it comes to your grantmaking operations.
3. Honest and Accurate Data. GrantAdvisor.org is the only feedback platform that offers aggregated, consistent data, which is not solicited by the funder themselves. When foundations directly solicit feedback (even anonymously) respondents give different answers. Since GrantAdvisor.org collects reviews with or without funder prompting, this unsolicited feedback is the most honest feedback in the market. Most importantly, honest reviews mean accurate data.
4. Saving Time. Over time, we hope that the sharing of information via GrantAdvisor.org will help potential grantees better self-select for which foundations to approach and which are not great fits. This will result in a higher-quality pipeline for foundations, which saves everyone time and gets you closer to impact faster.
Set & Assess KPIs: Many foundations have Key Performance Indicators (KPIs) that describe how they would ideally like to operate. However, it is difficult to get the external data to find out if you are living up to your internal goals. GrantAdvisor offers an accurate and honest data set of KPIs that foundations can use to set and assess their performance overtime. Access to this measurable data allows funders to examine their grantmaking processes and ensure that everyone’s time is being used in the most efficient way. Specifically, here are just some of the data points that GrantAdvisor collects:
Branding & Identity: The honesty and accuracy of GrantAdvisor data allows foundations to see how they are perceived within the greater philanthropic space. GrantAdvisor data can help you assess whether your organization is truly aligned with your own branding and identity goals. Do you consider yourself a responsive, respected member of your community? GrantAdvisor will let you know if you are.
Testimonials & Marketing Materials: Most of the reviews on GrantAdvisor are positive. These compliments and praises make for great testimonials on the impact that your foundation is having in its community and within your designated beneficiary population. These testimonials are valuable for both internal use (e.g., when recruiting new talent, sharing your impact with your board, celebrating staff successes) and external use (e.g., website, marketing materials, and sharing your story with your community).
Want to go deeper? Here are some suggestions from foundations executives on how to bring this data off the web and into your staff meetings and boardrooms.
You should invite people to review your foundation because more views means more honest and accurate data. More honest and accurate data means more opportunities for you to assess the performance of your foundation, improve your processes, and celebrate your successes. All of this will make you more efficient and effective in your pursuit impact and mission.
Here are four ways to spread the word about GrantAdvisor.org:
Jessamyn Shams-Lau and Maya Winkelstein, foundation executives who serve on the National Leadership Panel for GrantAdvisor.org. To learn about their work, visit www.peeryfoundation.org and www.openroadalliance.org.