FUNDING
Most community projects will at some point need funding to help them carry out activities. Here are some simple steps and good practice ideas for fundraising and writing funding bids.
Step 1: Before you start to fund raise
Any group new to fundraising should contact Swansea Council for Voluntary Service (SCVS) or Neath Port Talbot Council for Voluntary Service (NPTCVS)for advice and guidance. Depending on the size and nature of your project, you will also need to think about the following:
Fundraisers
Constitution
As a group you might need to consider developing a constitution. A constitution sets out the aims and objectives of your group and the rules governing how the group is managed and run. A constitution is particularly important as it reassures funders that you are a responsible organisation. Again, SCVS or NPTCVS can help with this.
Bank account
You will need to open a bank or building society account in the name of your group before you start to fundraise.
Planning ahead
Raising money takes time so forward planning is essential. A clear fundraising plan is a good way of clarifying what you need to do and when, so that you are not constantly raising money for the short term.
Raising money yourselves
Most funders want to see that a group is trying to raise some of its funds by its own efforts, no matter how small a percentage of the total income this provides. Organising a fundraising event is still one of the best ways of funding voluntary activity and it can help to raise awareness of your organisation and its work.
Drawing up a budget
A budget is simply your group’s plans for the coming year set out in money terms. You will also need to think about your annual accounts. Unless you are a new group, funders will ask to see your previous year’s accounts to reassure themselves that you are financially secure and can manage any funds they give you.
Step 2. Identify and approach trusts and funding bodies
Identify trusts and funding bodies that you think might help fund your project. SCVS has up-to-date information on funding opportunities. Once you have identified an appropriate source of funding you should make sure you know as much as possible about the funders:
Step 3. Writing your bid
Make sure you fully understand the funder’s application process before you make an application. Some funders use application forms, while others require a letter. Make sure your grant application is clear and concise, and involves a number of key elements:
A good guiding principle to what should be included in a good application is the 7 “Ws” and the 2 “Hs”. Consider each of these elements when writing your grant:
To ensure your application is clear and concise you will need to understand your key selling points:
Also remember to consider what the funding body is looking for. If possible, arrange to speak to or see a grants officer at that organisation.
Sources of funding
There are numerous online resources available on funding and it is worth doing some research on what opportunities exist for your type of project. . Here are some good starting points:
UK-wide: The National Council for Voluntary Organisatons (NCVO) website which houses a range of useful resources.
Wales: Wales Council for Voluntary Action (WCVA) is the national membership organisation for the third sector and volunteering in Wales. They have useful guidance on funding in Wales.
Local: Swansea Council for Voluntary Service (SCVS) and Neath Port Talbot Council for Voluntary Service (NPTCVS) are umbrella charities for the voluntary and community sector can provide advice and maintains up to date information on funding opportunities.
Any group new to fundraising should contact Swansea Council for Voluntary Service (SCVS) or Neath Port Talbot Council for Voluntary Service (NPTCVS)for advice and guidance. Depending on the size and nature of your project, you will also need to think about the following:
Fundraisers
- Who is going to be responsible for fundraising in the group?
- Will it involve everyone in your group?
- Will you set up a special committee?
Constitution
As a group you might need to consider developing a constitution. A constitution sets out the aims and objectives of your group and the rules governing how the group is managed and run. A constitution is particularly important as it reassures funders that you are a responsible organisation. Again, SCVS or NPTCVS can help with this.
Bank account
You will need to open a bank or building society account in the name of your group before you start to fundraise.
Planning ahead
Raising money takes time so forward planning is essential. A clear fundraising plan is a good way of clarifying what you need to do and when, so that you are not constantly raising money for the short term.
Raising money yourselves
Most funders want to see that a group is trying to raise some of its funds by its own efforts, no matter how small a percentage of the total income this provides. Organising a fundraising event is still one of the best ways of funding voluntary activity and it can help to raise awareness of your organisation and its work.
Drawing up a budget
A budget is simply your group’s plans for the coming year set out in money terms. You will also need to think about your annual accounts. Unless you are a new group, funders will ask to see your previous year’s accounts to reassure themselves that you are financially secure and can manage any funds they give you.
Step 2. Identify and approach trusts and funding bodies
Identify trusts and funding bodies that you think might help fund your project. SCVS has up-to-date information on funding opportunities. Once you have identified an appropriate source of funding you should make sure you know as much as possible about the funders:
- Know the size of grants the funder awards
- Know the closing dates for submitting your application and how long the application process takes
- Obtain up-to-date information about the funder’s funding policies and priorities
- Obtain up-to-date guidance on the funder’s application procedure
- Speak to the funding adviser at your local development agency for further advice
Step 3. Writing your bid
Make sure you fully understand the funder’s application process before you make an application. Some funders use application forms, while others require a letter. Make sure your grant application is clear and concise, and involves a number of key elements:
- A good project
- A good case for support
- The credibility of your group or organisation
- The people involved in the project
- The interests and funding priorities of the funder being approached
A good guiding principle to what should be included in a good application is the 7 “Ws” and the 2 “Hs”. Consider each of these elements when writing your grant:
- Who you are
- What you want to do
- Why it is needed
- Where you want to do it
- Who is going to benefit
- When you are going to do it
- What it will cost
- How you are going to monitor and evaluate the success and impact
- How you are going to continue the work when the funding ends
To ensure your application is clear and concise you will need to understand your key selling points:
- Why your work is important
- Who benefits from your work
- How many people benefit from your work
- What is unique or different about your work
Also remember to consider what the funding body is looking for. If possible, arrange to speak to or see a grants officer at that organisation.
Sources of funding
There are numerous online resources available on funding and it is worth doing some research on what opportunities exist for your type of project. . Here are some good starting points:
UK-wide: The National Council for Voluntary Organisatons (NCVO) website which houses a range of useful resources.
Wales: Wales Council for Voluntary Action (WCVA) is the national membership organisation for the third sector and volunteering in Wales. They have useful guidance on funding in Wales.
Local: Swansea Council for Voluntary Service (SCVS) and Neath Port Talbot Council for Voluntary Service (NPTCVS) are umbrella charities for the voluntary and community sector can provide advice and maintains up to date information on funding opportunities.
