This report describes how school librarians can master the art of grantsmanship by following three guiding principles. First, librarians are advised to begin by identifying their institution's goals and objectives and conducting a needs assessment. Second, it is important for the grant-seeker to understand the mission of the funding source (whether it is a corporation, foundation, or government agency), its goals and objectives, preference for projects to fund, and procedures for the submission and review of proposals. Thirdly, the library media specialist is advised to develop the proposal with the support and assistance of school district administrators. The guide then describes how to make an initial contact with the funding source and outlines the fundamental elements of a proposal. Guidelines for writing and submitting the formal proposal are also provided. The report concludes with a selected list of publications that contain information on potential funding sources; a sample project management chart; a sample project budget; and a glossary of grantsmanship terms. (15 references) (MAB)