No matter how hard you pinch your penny, it is not going to multiply on its own! Finding practical ways to fund your groupâ€™s activities and needs will be important if you want to promise bigger events and more opportunities.
You need to do two things to ensure you have enough funds for your groupâ€™s activities: create and stick to a budget, and actively fundraise. One person and/or committee should be responsible for the groupâ€™s funds. They will make sure that the group has the funds it needs, is in full compliance with school policy and continues to grow. Remember, always be training your replacement and more than one person should understand how the process works.
Develop a Budget
Whether your group has a treasurer or a finance committee, you will need to determine the groupâ€™s projected expenses for the semester or year. Make a list of your groupâ€™s events (e.g. educational campaigns, cemetery displays, trips) and discuss the costs of holding each event. Consider:
- What materials will you need?
- Are there transportation costs?
- Are there fees for reserving the location?
- How much does a speaker charge?
- Estimate your total expenses for the semester (or year).
- Consider adding an amount to cover any additional expenses that may occur.
After each event, compare your budget projections with the actual costs. Keep notes so you can be better prepared next time you do the event.
Pool Your Resources
Find ways to collect the necessary funds to meet the projected budget. You will need to use a combination of student funding and additional fundraising. Remember to share the mission of your group and to encourage participation in future events. People will more likely support your group if they feel like they are a contributing part of its successes!
For more help with fundraising, email us.Â We will help you develop a fundraising plan for your club.Â You may also be interested in these pages: