When funders are giving money to community groups, finding out where the money is going is a top priority! Here are our top tips to nail your budget breakdown on ActionFunder.
A good budget breakdown:
➜ Shows the funders you’ve thoroughly planned your project
➜ Helps paint a picture of what you want to do
➜ Can sometimes result in extra help from funders (e.g. with sourcing items or venue space)
But it doesn’t have to be complicated. Simply:
➜ List the items, services and/or staff time that the funding will go to
➜ Make sure you include quantities
➜ Make sure you include the cost per unit
➜ Make sure that the costs in your budget contribute to the project you have described. We want to make sure that nothing feels like an afterthought
15 x Childsize Gardening Gloves @£5/pair = £75
30 x Mixed Organic Vegetable Seed Packs @ £2.50/pack = £75
48 Hours Youth Worker Time, (4 Hours/Week for 12 Weeks) @ £15/hour = £720…
We know that sometimes projects can change. Maybe you’ve been donated the kitchen equipment you were looking for. Maybe you’ve been offered a reduced rate as a community group. Even after you’ve been selected to win funding, we’re always up for discussing project changes.
If you are looking for more advice on budgeting, have a read at our article How to Budget for success. If you’re ready to post a project on ActionFunder and secure funding, Sign up and create your free account!