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“How can I find money to implement my cultural project? Which tools can I use? Who will support my project? What is a fund and where is it? How can I approach it? Who is a fundraiser? Which skills does he need?”
WELCOME to the last part of our fast course in fundraising for cultural project.
We’re already have some basic knowledge and skill on funding (if you’re not, please check our first two scenario). Now it’s time to gain a complete funding competence with a last exercise to test your new ability.
Then we will provide you some useful and ready-to-use tools.
Aims of the course:
The course is aimed at youth workers and young people involved in their community who would like to manage a project on telling migrants’ story through a pop-up exhibition.
Is that you?
In this Training Curriculum we will help you to develop your basic funding competence so you and your team can manage a pop-up exhibition without problems.
Plan your own crowdfunding campaign!
Connect your team and make it collaborate. Mix funding and marketing, funding and dissemination, people and institution, economic and cultural, artistic world.
THE NEW BORDER OF FUNDING IS MATCHING!
Before you and your team start…
1) Read that carefully: https://entrepreneur.indiegogo.com/education/guide/pre-launch-calendar-checklist/
2) Ask you which platform is the best for your project: https://www.crowdfunding4culture.eu/platforms-map
3) What’s about matching crowdfunding and institutional funding?
4) Get a look at some great examples: https://www.crowdfunding4culture.eu/case-studies https://www.youtube.com/watch?v=hmh2w08kPvk
Tool 1 - DRAW UP A BUDGET STEP BY STEP
STEP 1 Calculate expenditure
- Travel costs: what costs are you responsible for?
- Hire costs: how much do you pay for hiring equipment, rooms etc?
- Activity costs: how much will it cost to run the project itself, e.g. a youth exchange?
- Administration costs: what costs do you have as regards staff pay, telephone, etc?
- Food and accommodation: do not forget travel days and all visitors and guests.
- Fees: how much do you need to pay specialists, interpreters etc?
- Personnel and miscellaneous expenses: are there likely to be any extra expenses to be reimbursed to members or staff?
- Exceptional costs: are there any hidden costs?
N.B.: There are two types of costs in each projects:
- Costs related to the project management (all those expenses that are related to the project coordination, such a salaries, administrative costs, accounting costs, etc.)
- Costs related to the activity itself (These are all the costs that must be incurred in order to execute the project, for example costs of promotion, purchase of equipment necessary for the project, accommodation, etc.)
STEP 2: Calculate income
STEP 3: Compare income and expenditure
Total income and expenditure should now be compared with each other to establish if there is a surplus or
deficit. It is recommended that you budget for a surplus of about 5% (i.e. income should exceed expenditure
by about 5%).
STEP 4: Phase the budget
Phasing is the most important aspect of constructing a budget. It involves analysing both income and expenditure month by month (or quarter by quarter, or week by week, depending on the level of detail and the length of your project). This is important because, whilst the total budget for the year may show a surplus, it is quite possible to have sizeable deficits in individual months or at particular moments of your project. If there is a deficit in a particular month, it may be possible to arrange for funders to pay earlier or to defer expenditure to a later date. If there is a significant surplus in any month then it may be appropriate to invest the money in a higher-interest bank account. It is important to have the budget for the project approved by those responsible for your organisation’s finances. Also make sure that you know what will happen if the project makes a loss: who will pay bills or repay funders if the project does not go ahead as planned?
Tool 2:- EXAMPLE AND TEMPLATE
Here an EXAMPLE in eximating costs. If we are organising the conference these may be our expenses (Project management costs are not included):
- Printing of the invitations
- Postal costs
- Preparation of the contents of the conference
- Editing and printing of materials for the conference
- Trainer’s fee
- Travel costs
- Room rental
- Coffee break
- Technical services during the conference
- Editing and printing of materials developed during the conference
Having done the list, we have to make a couple of phone calls and send some emails to estimate the costs.
OK, YOU ARE READY NOW AND WELL-EQUIPPED!
HAVE A GREAT POP-UP EXPERIENCE
- Translate needs in resources and resources in money
- Cooperate with your team
- Draw up a budget
- National and international cooperation