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How to Get Multiple Grants, Avoid Pitfalls & Build Wealth with Stormi Banks · Earn Your Leisure

• 0:00
  Speaker 1: Is there a thing that you can have but so
• 0:02
  Speaker 1: many grants at one time? Like, can you have nope,
• 0:04
  Speaker 1: ten grants running simultaneously.
• 0:07
  Speaker 2: Yep, you can.
• 0:08
  Speaker 3: But this is what I also tell people is don't
• 0:10
  Speaker 3: get grant happy, right because grants are debt free, but
• 0:12
  Speaker 3: they're not tax free. So grants goes on your taxes
• 0:15
  Speaker 3: as additional income. And so you have to be able
• 0:18
  Speaker 3: to uphold the standard of how to utilize that actual grant.
• 0:21
  Speaker 3: So if you're like, okay, cool stort, we said one
• 0:23
  Speaker 3: gran to day, we balling. Now are you reporting back?
• 0:26
  Speaker 3: Are you, you know, handling the funds how you said
• 0:29
  Speaker 3: you would on the application? It takes a really organized,
• 0:32
  Speaker 3: you know, operation to be able to handle that many
• 0:35
  Speaker 3: grants at a time.
• 0:36
  Speaker 1: Is there any oversight to see, Okay, you act for
• 0:39
  Speaker 1: a grant because you say you needed a truck, you
• 0:42
  Speaker 1: have to like, do they check to see if you
• 0:44
  Speaker 1: actually purchase the truck?
• 0:45
  Speaker 2: Depends on the funding stores.
• 0:46
  Speaker 3: Of course, you should always do what you said you're
• 0:48
  Speaker 3: going to do on a grant opportunity, but federal, state,
• 0:51
  Speaker 3: local grants, yeah, they're going to be checking.
• 0:53
  Speaker 2: Now. You know.
• 0:54
  Speaker 3: Let's just say that you you budgeted thirty thousand in
• 0:56
  Speaker 3: a truck and to being twenty five. You can you know,
• 0:59
  Speaker 3: talk some know, Hey, we have this overage of five thousand,
• 1:01
  Speaker 3: we're going to reallocate it to these areas.
• 1:04
  Speaker 4: Is that money tax that the is it tax has
• 1:06
  Speaker 4: additional income?
• 1:07
  Speaker 2: Right?
• 1:07
  Speaker 4: If I made one hundred thousand, I got a grant
• 1:10
  Speaker 4: for one hundred thousand, I've made two hundred correct, Okay,
• 1:14
  Speaker 4: good to know. Yeah, so that's interesting because I wouldn't
• 1:17
  Speaker 4: even think about the tax implication. Definitely have a CPA,
• 1:20
  Speaker 4: oh yeah involved in us.
• 1:21
  Speaker 3: But see this, this is when when you're doing on
• 1:23
  Speaker 3: a high level, this is when the real strategy really
• 1:25
  Speaker 3: comes into play, right because a, now you have a
• 1:29
  Speaker 3: two hundred thousand dollar business right on the for profit side.
• 1:32
  Speaker 3: So one thing that always to my clients is like
• 1:34
  Speaker 3: every every for profits have a nonprofit foundation, right because
• 1:39
  Speaker 3: now we can be able to take thirty percent of
• 1:42
  Speaker 3: what our for profit is making and put it over
• 1:44
  Speaker 3: into our for profit side. And now we've be creating
• 1:46
  Speaker 3: that tax free money that we could have you know
• 1:49
  Speaker 3: that we got from that from that grant funding. So
• 1:51
  Speaker 3: it's really important to just I'm not a CPA, but
• 1:56
  Speaker 3: it's really important to understand the implications of grants, and
• 1:59
  Speaker 3: it's important to be able to have strategy when you're going.
• 2:02
  Speaker 2: For grants because you can't get in trouble.
• 2:04
  Speaker 3: And I've seen a client, you know, get tax dollars
• 2:06
  Speaker 3: taken back because they didn't.
• 2:09
  Speaker 2: Do what they were supposed to do with the funding.
• 2:10
  Speaker 2: They didn't report on time.
• 2:11
  Speaker 3: They told them that they were going to do, you know,
• 2:13
  Speaker 3: help five hundred people in at the deadline mark, they
• 2:15
  Speaker 3: helped fifty. Right, So there are definitely times where they
• 2:18
  Speaker 3: can be like, oh, taking that back.
• 2:22
  Speaker 1: Are you in a database of like grant So it's like, Okay,
• 2:25
  Speaker 1: this person already has three open grants, so they might
• 2:28
  Speaker 1: need the money. Like if somebody else is going to
• 2:29
  Speaker 1: give you a grant, they see how many grants you
• 2:31
  Speaker 1: already have or were given in the past, and that
• 2:35
  Speaker 1: might make the decision like, Okay, they might not be
• 2:38
  Speaker 1: in dire need because they already have a grant.
• 2:39
  Speaker 3: Yeah, the departments are pretty separated, but what they will
• 2:42
  Speaker 3: do is they'll make you, you know, tell them. Yeah,
• 2:45
  Speaker 3: They'll make you say, like what funding sources have you
• 2:48
  Speaker 3: gotten all year? But sometimes that can also be a help, right,
• 2:51
  Speaker 3: especially on the nonprofit side of grant opportunities.
• 2:54
  Speaker 2: Nonprofits give their money.
• 2:55
  Speaker 3: To people that can showcase they have other ways of funding,
• 2:59
  Speaker 3: Like they don't want to be the only funder on
• 3:00
  Speaker 3: the nonprofit side.
• 3:01
  Speaker 2: They're like, do you have.
• 3:02
  Speaker 3: Anybody else willing to help? Do you have anything else
• 3:04
  Speaker 3: going on? So they'll make you tell them on the application.
• 3:07
  Speaker 4: In terms of you from a personal standpoint, pink Print
• 3:10
  Speaker 4: is the brand, Yeah, congratulations, thank you. I guess we
• 3:13
  Speaker 4: should get the orange and sorry of the name and
• 3:15
  Speaker 4: all that. But when you're building this team, do they
• 3:19
  Speaker 4: all have to go through the certification process talk to
• 3:22
  Speaker 4: us about how print was formed and where it stands internally.
• 3:26
  Speaker 3: Yeah, so absolutely, we all go through the same certification
• 3:29
  Speaker 3: process for sure. But then we also have our internal
• 3:32
  Speaker 3: methodology that we utilize in our own internal formula. So
• 3:35
  Speaker 3: then of course they're trained on what we do that
• 3:37
  Speaker 3: makes us different in our information more proprietary. So it's
• 3:41
  Speaker 3: a couple weeks of training and typically didn't get it
• 3:43
  Speaker 3: done in like three four weeks.
• 3:44
  Speaker 4: How many people on.
• 3:45
  Speaker 2: The team seventeen right now?
• 3:47
  Speaker 4: Seventeen seventeen and.
• 3:49
  Speaker 1: Those are all reps that work with people individually.
• 3:52
  Speaker 3: So there's different departments. So you have your grant writing department,
• 3:55
  Speaker 3: you have your grant applications specialist department, and then we
• 3:58
  Speaker 3: have just our operations stuff.
• 4:01
  Speaker 1: So how have you been able to market your company?
• 4:03
  Speaker 3: Market it through our get ground ready summits. So our
• 4:06
  Speaker 3: summits are really where a lot of people find us
• 4:10
  Speaker 3: because at the basis of being a grant writer, I
• 4:13
  Speaker 3: think we're it started off as education first, right, and
• 4:16
  Speaker 3: that's kind of where we keep it for the most part.
• 4:18
  Speaker 3: Is like, hey, even if you don't hire us, we
• 4:20
  Speaker 3: want you to know that this is possible. We want
• 4:22
  Speaker 3: you to know that you're eligible and how it works,
• 4:24
  Speaker 3: and we want you to go and do it and
• 4:25
  Speaker 3: be excellent, regardless whether it's us or not. So when
• 4:28
  Speaker 3: we educate people, we do like three day five day
• 4:30
  Speaker 3: virtual summits to educate people on literally the full process
• 4:33
  Speaker 3: of like the mindset you need, the where to find grants,
• 4:37
  Speaker 3: how to write the proposal, how to apply to it,
• 4:39
  Speaker 3: and then also how to scale with the tax code
• 4:41
  Speaker 3: because that's a really.
• 4:42
  Speaker 2: Important part of it too.
• 4:44
  Speaker 4: Yeah, how liberating is this process for you? I know
• 4:46
  Speaker 4: a lot of times we run into people and they like,
• 4:48
  Speaker 4: you change my life. You change my life. I wonder
• 4:51
  Speaker 4: as you're going through this journey yourself. How has that
• 4:54
  Speaker 4: been when people understand this is something that can really
• 4:58
  Speaker 4: elevate their business number one, but also from a personal standpoint,
• 5:01
  Speaker 4: helped them and that their journey when it comes to
• 5:03
  Speaker 4: financial education and depth.
• 5:05
  Speaker 3: At first, it was really scary because like when it
• 5:07
  Speaker 3: comes to money, it's like people really look at you
• 5:09
  Speaker 3: like a lifeline. And at first I was like, hold
• 5:12
  Speaker 3: on now, hold on now, and you know, as time
• 5:15
  Speaker 3: has gone.
• 5:15
  Speaker 4: On again, hold on now, you fly.
• 5:18
  Speaker 2: That was Georgia. I had on hold on still from Brooklyn.
• 5:24
  Speaker 3: You know, as I've built my confidence and like really
• 5:28
  Speaker 3: seeing that a proof of concept more and more over
• 5:30
  Speaker 3: the years, of course, I've just gotten more comfortable with
• 5:32
  Speaker 3: understanding like we can't change people's lives, like we really
• 5:36
  Speaker 3: do have access information and skill set to do that.
• 5:39
  Speaker 3: Thirteen of you guys's vendors were there because they won
• 5:42
  Speaker 3: pink print grants, you know, working with us, and I
• 5:45
  Speaker 3: was going around, I was like, oh my god, it
• 5:46
  Speaker 3: was like, ye had a grant that we want to
• 5:47
  Speaker 3: fifteen thousand we got, We paid for our booth.
• 5:49
  Speaker 2: We hear we rebranded out of Yatta, like selling out.
• 5:52
  Speaker 3: You know what I'm saying so it's like seeing it
• 5:55
  Speaker 3: in real life, like real business owners staying debt free,
• 5:58
  Speaker 3: building their business, expanding, getting these different opportunities because of
• 6:01
  Speaker 3: grant funding, whether they came to a class or whether
• 6:03
  Speaker 3: they work with us for their grant writing.
• 6:05
  Speaker 2: It's just it is. It's surreal, it really is. It's humbling.
• 6:08
  Speaker 2: That's crazy. We got to get that number off