As many community colleges are facing a period of stabilizing enrollments combined with inflation in operating costs and the increasing need to protect themselves against fluctuations in public funding, seeking new sources of funding becomes an inevitability. Corporations and private foundations are two major untapped sources for fund raising programs. Initially, an educational institution must assess its needs and set its priorities. The next step in the process is to identify prospective donors. Generally donors are either foundations within an institution's geographic area, or those that give nationally or internationally. Foundation Center Libraries and directories of foundations can aid in gathering information on foundations, but identifying corporate donors is generally more difficult. The third step involves educating and cultivating prospective donors in a systematic manner as to the nature of the college's programs, students, facilities, and community benefits and needs. The next step of submitting the grant proposal entails meeting with corporate representatives, writing the proposal in a concise manner geared toward foundation needs, and using personal contacts to boost influence. A final step in the total process is stewardship, the management of funds that have been granted to an organization. A bibliography of foundation grant directories and other publications is included. (MB)