This article will help you to think more broadly about developing project budgets for your funding proposals and donors. It will highlight four budgeting methods to include in your toolkit. This will help your organization to be more prepared, versatile and likely to build (as opposed to consume) its financial reserves.
Non-profit organizations tend to rely on grants for their survival. Fundraisers must be skilled at developing a narrative for how a project will achieve its impact, and how the anticipated activities and costs will serve this purpose.
I’ve worked with several organizations that routinely get the full funds they need for their projects. I’ve noticed they tend to use a variety of methods for developing project budgets. They have also developed innovative products, and have used marketing and PR to bolster their bargaining power.
In this article I will discuss four methods of developing project budgets. I will also discuss the issue of cost structure and bargaining power since these concepts are relevant to this conversation.