Problem

Despite multiple funding sources, philanthropic funds often operate in isolation until the grant has passed all pre-evaluation steps. This process saves time for final decision-makers but limits their ability to influence decisions. This isolation narrows funding partners and decreases grant-making opportunities. Funds, bearing all risks and responsibilities, must limit advice to a small portion of reliable grants.

Solution

Funding Consortia breaks down these barriers, inviting dialogue from existing and new funding partners who prefer an open approach to grantmaking. It increases transparency and decision-making power, enabling fundraising for a wider range of causes. It opens previously rigid and closed Funds boundaries, welcoming dialogue from existing and attracting new funding partners, who prefer more open way of grantmaking.

Funding Consortia is a platform that encourages joint funding and decision making initiatives by allowing multiple philanthropic organisations to pool their resources and collaborate on projects. This platform facilitates the publication of pre-grant assessments and gathers feedback from potential interested parties, ensuring a more comprehensive evaluation and increased transparency.

How Funding Consortia Enhances the Grantmaking Process:

Resource Pooling:

• Increased Impact: By pooling resources, funds can support larger, more ambitious projects.
• Cost Efficiency: Shared funding reduces the financial burden on individual organizations.

Collaborative Evaluation:

• Comprehensive Feedback: Pre-grant assessments gather stakeholder feedback for thorough evaluation.
• Improved Decision-making: Collective input leads to balanced grant decisions.
• Expanded Collaboration: Attracts more partners, increasing the scope and scale of grantmaking.
• Influence and Growth: Funders can voice concerns and support important projects, increasing available funds and grants.

Enhanced Transparency and Trust:

• Open Communication: Fosters dialogue between funds and partners, enhancing transparency.
• Shared Best Practices: Organisations share insights and strategies, improving project quality and effectiveness.

Innovation and Learning:

• Diverse Perspectives: Collaboration fosters innovation and creative solutions.
• Knowledge Sharing: Organisations learn from each other, leading to continuous improvement and impact.

By incorporating this solution, Funds can significantly enhance the grantmaking process, driving greater collaboration, efficiency, and impact.  

See our Funds System and Funds 101 for detailed solutions we've developed for iPhilanthropist partners to raise funds and empower collaborative funding experience.