Introduction to Project Budgets
Are you ready to start fundraising for your project or idea, but don’t know what and how much to ask for? If preparing a budget for your foundation grant is holding you back, come learn the basic elements of how to draft a project budget with confidence.
This recording will provide you with step-by-step instructions on how to generate a standard project budget for a foundation proposal. In it we discuss:
- The basic components of a project budget including income and expenses
- How to estimate the realistic cost of a project
- What other financial documents you may also need to submit with your proposal
This brief recording captures the key concepts of the course. For more expansive discussion of the topic, we suggest attending a live webinar or in-person session. Note the recording is captioned for individuals with hearing impairments.
We recommend viewing the Introduction to Proposal Writing webinar before this one.
00:36 What Funders Want to See in Project Budgets
01:13 Components of a Project Budget
02:44 If You Know Your Project, You Can Plan Your Budget
03:23 How will I know how much my project costs?
04:20 Estimating Personnel Costs
05:45 Estimating Non-Personnel Costs
06:58 Indirect Costs
07:42 Visible Costs (Direct Costs) vs. Hidden Costs (Indirect Costs)
08:29 Calculating Your Indirect Cost Rate
10:18 Showing Your Income
12:11 Add In-Kind Contributions
12:46 Other Financial Information Often Requested
13:46 Budget Considerations After the Grant is Approved
14:54 Key Takeaways
15:26 Where to Find Sample Documents