- Can we fund (underwrite) the project from own resources? The ability to underwrite a project while fundraising takes place can be advantageous as it lets the work get under way, however once the project has taken place retrospective funding is difficult to achieve.
- Are there funds we can access from “Friends of” organisation? Does your organisation have a separate fundraising body that can be approached to fund, underwrite, or assisting in fundraising for, this project?
- Are there funds available from the Education or Local Authority? Always worth checking, especially towards the end of the financial year. Your LEA or Children and Young People’s Trust is worth approaching even if they do not have funds available they may have information about possible funding sources.. Also check local initiatives such as Neighbourhood Renewal, Regeneration, or similar centrally funded schemes taking place in your area – they may be able to help.
- If the answer to any of the above is “Yes”. Then initially you need go no further, however if not then move onto the next section.
To Consider:
- Legal Status – three categories Private, Statutory, Voluntary (3rd sector). Schools are statutory unless they are “Independent” (of the state system) where they are either private or (if a registered charity) voluntary.
- The greatest number of funding opportunities are open to Registered Charities (voluntary sector), followed by other “not for profit” voluntary/community organisations. If you are not a registered charity it is worth considering:
- Working in partnership with one that can apply for/receive the funding;
- Establishing one (complex, time consuming, and only worth doing if there are long term plans for the project or other projects)
- Establishing a “Not for Profit Company” – Community Interest Companies (new legal structure, easy and quick to form, recognised by growing number of funders, but no tax breaks enjoyed by registered charities).
Over 4,000 charitable trusts make grants totalling over £3billion each year. Information about them is important and with the exception of personal knowledge of a Trustee or administrator the Directory of Social Change’s Trust Funding database Single subscription to the regularly updated website is £175-265 a year - www.trustfunding.org.uk . Some libraries and Councils of Voluntary Service subscribe to this data base and will allow groups to access via them.
A free resource, the Bidding Bulletin is produced monthly by East Sussex and can be accessed via their website:
http://www.eastsussex.gov.uk/community/funding/updates/default.htm
where arrangement can be made for update information to be emailed to you (again you can access this via the library)
- Lottery funding – Lottery funding is available in a number of forms from major multi year schemes to small one-off amounts. Some funding is managed directly, other streams are handled by agents. In addition the Lottery also handles funds for the government eg the recent Community Asset Fund. Charitable status is not a requirement to apply for funds from here and small amounts can be raised from the Awards for All Scheme (up to £10,000) within a relatively short time frame - www.awardsforall.org.uk/england/index.html. (or for all lottery funding on one site visit www.lotteryfunding.org.uk. )
Do not forget – where there is no formal application form be brief but precise in outlining your proposal covering What, Where, When, Why, for Who, and How Much – ideally on no more than two sides of A4.
Think laterally when looking at funding sources, for example does the activity impact on a child’s health, encourages health eating, or well-being – if so also search under Health categories. Is the focus of the project related to a type of product that could be fundable – ie a Stomp type activity could attract recycling or reuse funding – the options are only as limited as your imagination.
