Clubs have good reasons to generate funds - to assist with running costs, to keep fees down, to fund strategic developments, for new programs, and/or to maintain slush funds to cover unforeseen costs or price increases.
Knowing how much fundraising to undertake should be determined by financial plans and budget forecasts, as well as any strategic plans your club has for the future e.g. facility development. Best not to fundraise just for fundraising's sake. Click Here for Budgeting Templates and sample Business Plan Format
There a 4 main sources of funding explored here:
- Grants (TIP: Need to be Incorporated, grants are linked to specific outcomes)
- Sponsorship (TIP: This is not just a hand-out, it is based on mutual gain)
- Fundraising Activities (TIP: Knowing what the money is for helps, look for ways to attract external $'s)
- Donations/Philanthropic Trusts (TIP: Identify a worthy cause, may need to link with a charitable organisation for best results)
All of the above take time, so it is worth doing some planning before you leap. First step is knowing what you need the funds for e.g. Government Grants rarely fund running costs and want specific project or development outcomes.
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