Grants offer the opportunity for your organization to bring in new funding that does not need to be paid back!
Grant funds will allow you to expand your program and/or create new programs to serve your existing or additional target populations. Your unique ideas coupled with funder requirements that will necessitate a bit of organizational "stretching" offer a great recipe for organizational growth!
The process of collecting data on and reviewing areas of need, reviewing resources, establishing goals, and then creating a responsive action plan is likely to be beneficial for your organization. This process often leads to changes, new or improved programs, and organizational growth even when funding isn't awarded.
Applying for a grant provides a great reason to reach out to other organizations and initiatives in your area with similar goals or that are serving similar populations. While it's possible they may need to be tweaked, the partnerships developed and the roles planned during the application process don't need to end if funding is not awarded or when your grant ends. Applying for a grant--whether awarded or not--is a fabulous opportunity to develop valuable partnerships that will increase the capacities of all of the involved organizations!