University Sponsorship aids campus groups by establishing a base of reliable funding, giving you an annual foothold for yearly activities.
Step 1: Set realistic fundraising goals.
When planning ideas, consider these questions:
- How much money is needed to fund your project as well as pay for general operating expenses?
- How much of your income is reliable? (What can you really count on?)
- How much of your income is unreliable? (Things like ticket sales or donations might be a little harder to predict)
And Most Importantly
- Where do you have opportunities to raise funds from?
Remember, at the end of the day, what funds you don’t receive from your university you have to raise yourself – so be savvy!
Step 2: Creating a budget.
As a student organization, you may be granted an opportunity to receive funding from the university itself. Often times this will be determined by your student government or through your school’s student activity office. Take the time to become familiar with the process and those who will determine each semester’s distributions. Often times, these organizations will have office hours where you can meet with someone on the committee to go over the budget allocation process and what you will need to do. No matter what, prepare a budget ahead of time which you will be able to explain and defend.
- Pre-Plan Events – Have an idea of which events you would like to implement and create a timeline. (Check your calendars for UN holidays, school-wide events, etc.).
- Estimate Costs – Now that you have your timeline flushed out, think about what supplies you may need (tables, handouts, etc.) and funds that need to be covered (registration fees, etc.). Start taking a tally!
- Craft an Explanation – Oftentimes your group will have to argue why your funding should be approved, so make sure that you have an explanation as to why it’s necessary and how it will positively affect the entire student body (and the reputation of the university as a whole).