Grants can help nonprofits overcome rising inflation and economic uncertainty

With inflation as high as it’s been in more than 40 years, our nation is facing the reality that a dollar just doesn’t stretch as far as it used to.

This can be challenging for nonprofits that rely on donated money to remain solvent, but they do have a few options: cutbacks, fundraising and grants.

Cutbacks can be a part of good financial stewardship, but they can also mean reducing provided services. Fundraising is an ongoing, must-do activity, but it relies on people’s continued generosity and benevolence through this unpredictable economic environment.

Grants also rely on generosity to keep them funded, but many—as is the case with the DAV (Disabled American Veterans) Charitable Service Trust—have been managed to weather generational financial storms. They can be a great source of funding, especially if an organization has a specific purpose in mind for the money they’re seeking.

The good news is that even during this time of economic uncertainty, there’s still money available for nonprofits to operate and even grow.

The DAV Charitable Service Trust is a great example of available money. Nonprofit organizations aligned with our mission to empower veterans to lead high-quality lives with respect and dignity may find the funding they seek by applying for a grant during one of the open cycles. So far in 2022, we have awarded more than $6.4 million in grants to organizations throughout the United States. As we head into 2023, we don’t plan on slowing down.

Past awardees have provided assistance to homeless and at-risk veterans. Others have provided mobility items for veterans who’ve experienced vision loss, hearing loss or amputations. Grants have gone to nonprofits focused on therapeutic or recreational activities for those with physical or psychological limitations. We’ve assisted organizations focused on educational and vocational training for veterans seeking career readiness and skill development. Some grants have also gone to support organizations focused on families and caregivers of veterans.

The above list is certainly not exhaustive. We’re open to variety. However, the Trust does not generally provide funding to support indirect costs; goodwill advertising; initiatives that are affiliated with any given political or religious concept or campaign; endowment funds; pilot or newly established projects; or capital items, including funds to support the acquisition or maintenance and rehabilitation of a property.

With our next monthlong funding season opening up on Jan. 3, 2023, there are a few things nonprofits interested in applying for a DAV Charitable Service Trust grant should know:

Make sure you’re eligible.

This means being operational and recognized by the Internal Revenue Service as tax-exempt. First-time applicants must receive credentials and a standard qualification through the Trust’s application portal by clicking the “Register Here” button. Applicants may receive consideration only once every 12 months.

Make sure you have the required documentation.

We carefully vet all potential grantees. In addition to knowing how the requested money will be used, we review an organization’s structure, tax returns and annual operating budget. Prospective applicants can go here to learn more about what else is required. The application also breaks down the specific details and needed documents.

Be thoughtful and thorough with the application.

It’s true that the grant application will take some time and effort to complete. Not only does this allow us to see how the requested money will be used, but we also get to learn more about the potential grant recipient. It’s exciting to see the many ways organizations support veterans and their families, and we want to be able to accurately share that with our donors. They appreciate our due diligence and trust us to make the right decisions on who receives grants.

We may not know exactly how the economy will be impacted in the long term, but grants can be a great way for nonprofits to hedge against an uncertain future. The DAV Charitable Service Trust was born more than 30 years ago from an organization that has seen all of the economic ups and downs of the past century and thrived. So as long as there are veterans in need, we are ready to financially assist other organizations so they can focus on their missions. Visit cst.dav.org to learn more.