One thing to consider when using the large directories of foundations and corporations is that many of them contain similar information. With very few exceptions (e.g., foundations whose giving is dedicated to one or two specific entities) there is no such thing as a "specialized" funder, who gives solely to religious organizations, or only for operating capital. Thus, you're likely to find many of the same funders listed in a variety of guides. Try to locate one really good general source, buy it if you can, and use it for everything.
Ask your colleagues for advice about grantwriting and foundations as well. People who work in your organization as well as the organization's board members will typically have information on appropriate foundations to contact. Asking people from other agencies about their ideas for potential funding sources and their experiences with particular foundations can also yield good information. You might also consider joining or at least checking into listserv's and/or newsgroups dedicated to grantwriting. These will give you opportunities to network with other proposal writers, ask questions about specific foundations and projects, and they can be a great source for innovative ideas.
It has been said that "grant writing is like playing the stock market; there is seldom a guarantee that your efforts will be rewarded, but the more you know about the process and the more you use this knowledge, the greater the probability for success."
Source: Hensen, K. L. "The Art of Writing for Publication."
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