Grant Writing Funder Prospect Research 5

Question 1

Which factor distinguishes a 'cold prospect' from a 'warm prospect' in funder research?

Accepted Answer

A warm prospect has an existing relationship with your organization or a mutual connection

Answer

Prospect 'temperature' refers to the strength of your relationship with the funder, not funding history or award size.

Question 2

A foundation's annual report is valuable for prospect research because it typically includes:

Accepted Answer

Narrative descriptions of funded projects and funder priorities for the year

Answer

Annual reports often feature stories of funded work and board messages that reveal a funder's evolving values and strategic priorities.

Question 3

What is a 'suspect' in the prospect research pipeline?

Accepted Answer

An unvetted potential funder that appears promising but has not yet been researched for fit

Answer

In fundraising pipeline terminology, a suspect is an unqualified lead — it needs research to determine whether it becomes a true prospect.

Question 4

When a funder's guidelines say they fund '501(c)(3) organizations only,' an organization with 501(c)(4) status should:

Accepted Answer

Partner with a 501(c)(3) fiscal sponsor to apply on its behalf

Answer

A 501(c)(4) organization can access funding requiring 501(c)(3) status by partnering with a qualified fiscal sponsor.

Question 5

Which of the following best describes 'prospect cultivation' after initial research is complete?

Accepted Answer

Building a relationship with the funder through site visits, updates, and strategic communication before applying

Answer

Cultivation is the relationship-building phase between identifying a prospect and submitting an application, aimed at warming the connection.

Grant Writing Practice Test