In recent years, new development funders have emerged to supplement traditional donor funding. From private charities to philanthropists, global development is getting a much-needed financial boost from some of the world’s largest corporations and affluent individuals. With more and more philanthropists getting involved, it has become increasingly clear that nontraditional donors will continue to play an important role in addressing the world’s most pressing challenges.
Currently, the Bill and Melinda Gates Foundation remains at the forefront of philanthropic giving, but there are many other foundations seeking qualified partners. While private and corporate foundations are notorious for stringently screening grant applicants, some of these charitable institutions leave room for engaging new partners by encouraging organizations to submit project ideas that will contribute to achieving the foundation’s mission and objectives.
By advertising open opportunities — or grant opportunities that have no fixed application deadlines — foundations attract a multitude of prospective partners. Open opportunities are either scheduled to reopen after a specified timeframe or remain open indefinitely. Unlike requests for proposals, or RFPs, which outline specific requirements for a program, open opportunities are less structured, allowing organizations to design their own solutions for tackling development challenges.