Sunday, July 3, 2016

How to fund your next project

Checking your Social Credit

Built on the value  of
supporting each other.

When it comes to grant writing the # 1 mistake is expecting a grant will cover 100% of the cost of your project.  When writing your budget you need to consider other incomes you can list. This may be that you applying for other grants. Or you have secured an grant to cover part of your project.

Income should only be listed in the income column if it is secured. So ticket sales are not income until the cash is in the bank.  Your project may have sponsors or you may be working in partnership with others.  When it comes to grant non-cash items known as  in-kind support can be listed in your income column,

Your income might include:-

  1. Cash donations
  2. Donation of goods
  3. Fundraising to date
  4. Sponsorships
  5. Cash provided by partners
  6. Use of venues or equipment without free
  7. Hours donated by volunteers
  8. Skills or time donated by others
  9. Income from other grants
  10. Your time and resources.

When it comes to grants there are always resources we contribute to the project, that will do not factor our budget income, such as phone calls, power, internet, paper and ink or administration time if you are a business.  Even your time spent administrating the grant.. Although some grants will not allow you to ask for these expenses they can be listed as income in-kind.

Many grant administrators want you to demonstrate you yourself are investing into the project.  One way I do this is not to claim all my work hours and list some hours as my income.

Supporting and Being Supported
in our local community

So when we're thinking about how to fund a project cash isn't the only way to measure the value of something,  For example, someone lets you use there printing press free of charge.  This can be listed as a in-kind item, so you need to find out what the value of hiring a printing press is worth. 

Why do you need to list these things as income if your not exchanging cash?

  • Most grants will only cover a percentage of the total cost of your project. So if you have an income of $ 23, 566 and the cost of your project is $60, 000. Then you could ask for $37, 444 through a grant.
  • Administers of grants want to see you and others in the community are investing in the project.  In-kind income from you and others demonstrates investment in your work.
  • In-kind support also demonstrates community support for the project.
Most grant assessors are looking for projects that benefit the wider community, thus you want to be engaging in the community the development of your project.  When I am asking the community or other individuals in the project itself I consult with others in shaping the project. Including any funding body you maybe considering asking for funds.  Sometimes others may suggest organisations you have not considered.

However, the use of social credit is boarder than sources of income you list on a grant application. Social credit can be valuable in activities such a hosting your solo art exhibitions or market stalls.  For some these 'social exchanges' occur without thought. An example of a 'social exchange' is use of screen printing equipment in return for working on a friends website.  'Social exchanges" especially when it involves the exchange of information, occurs between friends without through.

Supporting others . . .

The use of social credit and valuing the worth of these exchanges at least in the beginning may require us to be more deliberate in the way and with who these exchanges take place.  The easiest exchange we can make is to support others and their projects.  This giving a physical presence at the events, sharing information, promoting the events of other artists by word of mouth or distributing flyers.

To calculate cash value of these social support we give to other artist, takes a shift in our thinking. Even through as artists we are not paid a hourly rate, 'out time', 'skills' and 'resources', are of value to others.  Especially when you can save others money, they might otherwise need to pay for, such as the use of table and chairs. While most of my social banking occurs without thinking, I am relocated to provide support to others who do not return my kindness.  So to hire tables and chairs cost money, by leading these to others you are saving you money.

The social replication may be with individuals with in a community. In a world where people ar constantly  asking for donations or placing our demands on our time, often people are looking for a retrun on their investment. This is a principle that many crowdfunding campagins are based on.  If you are raising money to print a calander then those who support you at the very least should receive a copy.

My ides of social credit is to earn it before I ask for support. This means I think about the business I make my purchses, where I chose to drink my coffee and actively supporting other artists in my network.  Then when I embark on a project I think about who might give me a discount or who might assist me to fundraise. Even a realm of copypaper is a valued contribution to you project and $5 you can list in your income column.  Sometimes its just asking someone to write you a suppirot letter.  The time people spend doing this is worth something.

Social cridet involves valuing the small things other do for us. Sometimes a thank-you on facebook or promotiong their page is and acknowledgement of the appreciation of the value of the time others spend supporting you.  Social cridet involve regular exchnges.

No comments:

Post a Comment