Sections
A guide to funding
by
Chris Gaine
—
last modified
2008-01-23 23:48
Whether you are just settting up a group or have been around a while you will face the same dilemma - where will the money come from to enable the group to continue to support people? It is unlikely that a single parent group can be completely self funding as many of your members will be living on benefits, or not earning a great deal.
The first thing to do is to open a bank account and of course before a group can do this they must have a committee that has agreed to do this. This is your first resolution, if you don’t know much about committees and resolutions contact your local Council for Voluntary Service (CVS) or Rural Community Council (RCC) who can advise about this. You will then need to complete a form for the bank with details of your nominated signatories (the people you want to sign cheques), your group’s constitution and a copy of the minutes of the meeting where the resolution was passed. These days banks ask for proof of identity (to prevent money laundering and fraud) so your officers and signatories will need to provide this. As with opening a personal account, shop around, find out what different banks will offer you in terms of free banking (watch out for hidden charges), separate high interest accounts (for the huge grants you are about to successfully procure) and advice. Ask for a Treasurer’s or Club account and ask for the interest to be paid gross (without any tax taken off).
Your group will need a Treasurer, preferably someone who is responsible, honest and can account for money accurately. The Treasurer will need to keep records of what money comes in, what is spent, will be able to pay bills, keep banking records and prepare simple financial statements. Small groups can get help and training from their local CVS or RCC. If a group grows rapidly it may have to think about employing a finance worker – Catch 22 – you need funding to employ people!
Now that you have a bank account and a treasurer you are in a position to apply for grants. You need to convince funders that you are worthy of their money. Remember there are literally thousands of groups applying for grants, so think on: what makes you so special? What is it that you do that is unique or greatly needed? Who will use your project, are the beneficiaries single parents, or single parents and their children, or local single parents plus other groups? Do you have a plan for future work and is it realistic?
Research is the key. Talk to some local single parents and record their feelings about what is needed. Have you a clear idea of exactly what you need and how you will spend the money? If you can provide a budget you will demonstrate not only that you have considered clearly what resources you require but also that you can budget effectively. What support do you have? If you can prove that a local community development worker or another organisation is willing to support you it will certainly give you credibility. If another group has offered you meeting space in their building then include them as both a resource provider and supporter for your group. The best advice that we can offer is to believe in yourself and your group. You have the right, like any other group, to apply for funding.
Many grant-giving trusts only give to registered charities so consider whether you want to go down this route. The Charity Commission offers help and advice about how to go about this on their website and by phone.
www.charity-commission.gov.uk
Your group will need a Treasurer, preferably someone who is responsible, honest and can account for money accurately. The Treasurer will need to keep records of what money comes in, what is spent, will be able to pay bills, keep banking records and prepare simple financial statements. Small groups can get help and training from their local CVS or RCC. If a group grows rapidly it may have to think about employing a finance worker – Catch 22 – you need funding to employ people!
Now that you have a bank account and a treasurer you are in a position to apply for grants. You need to convince funders that you are worthy of their money. Remember there are literally thousands of groups applying for grants, so think on: what makes you so special? What is it that you do that is unique or greatly needed? Who will use your project, are the beneficiaries single parents, or single parents and their children, or local single parents plus other groups? Do you have a plan for future work and is it realistic?
Research is the key. Talk to some local single parents and record their feelings about what is needed. Have you a clear idea of exactly what you need and how you will spend the money? If you can provide a budget you will demonstrate not only that you have considered clearly what resources you require but also that you can budget effectively. What support do you have? If you can prove that a local community development worker or another organisation is willing to support you it will certainly give you credibility. If another group has offered you meeting space in their building then include them as both a resource provider and supporter for your group. The best advice that we can offer is to believe in yourself and your group. You have the right, like any other group, to apply for funding.
Many grant-giving trusts only give to registered charities so consider whether you want to go down this route. The Charity Commission offers help and advice about how to go about this on their website and by phone.
www.charity-commission.gov.uk
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