How to Read a Funder's Form 990 for Grant Prospecting

Every private foundation files a public Form 990-PF, and it's the single best free intelligence source in grant-seeking. Here's how to read one like a prospect researcher.

Start with the grants schedule

The grants paid section lists every grantee, the amount, and often the purpose. Scan it for organizations like yours. If a foundation has funded ten food-access nonprofits and you run a food bank, that's a strong signal.

Calculate the typical award size

Don't ask a $5,000 funder for $200,000. Add up a sample of grants and find the median. Your ask should sit comfortably inside their normal range.

Map the geography

Foundations are often fiercely local. If 90% of grantees are in one metro and you're elsewhere, your odds are low regardless of program quality.

Check whether they accept unsolicited proposals

Many family foundations only give "by invitation." The 990 won't always say this directly, but a pattern of the same grantees year after year is a hint. Evaluating fit early saves weeks.

Let AI do the first pass

Reading 990s by hand is slow. Crescendo Connection surfaces 990-style insights — giving history, typical size, geography, openness to new grantees — automatically, so you only dig deep on the funders worth your time.