I had one that was re-visited after rejection and funded a year later.
Specifically, the program director for the Foundation expressed what their concerns were, and we addressed those...so, it was not the exact same request, but extremely similar. Their concerns focused more on staffing, board of directors financial involvement, etc., which we were able to correct and enhance by the time we had re-applied. In other words, it was not the project so much as the folks carrying out or implementing the project they were concerned with.