Be thorough in this step. Make sure you know exactly what you want and how much you will need. Funders do not like a change in plans once they dedicate their money. As you do research about a potential funding source, you will need to know some facts that include where they like to spend their money, how much they usually give, how to apply, how often they review applications and what does the funding source want for their money. Let's look at each of these components individually.
Most philanthropic organizations have special causes for which they like to target their grants.
Make sure your application matches the organization's giving priorities. Find an organization that usually gives about how much money you need. Some organizations have printed brochures that outline each step of the process. It appears that others try to make it very difficult. They provide almost no information to prospective applicants.