What Is A Grant?
A grant is a contribution whether it is the amount of money, gift or service given by the agency or government for organizations or individuals to fix a problem in the community. After that, the recipient can use it for accomplishing the purpose or objectives. However, to get this grant, the recipient should submit a request to the government or agencies as the application. Once it is accepted, then you have the ideas on how to manage your income and from this way, the grant budget template comes for you.
What Are The Common Budget Line Items?
Some common budget line items should be included in the proposal:
Direct Costs – This is the most important part when it comes to granting budget which includes some elements such as:
- Personel – Any kind of project needs workers to execute it. This includes such things as in a grant budget. We should cover wages. It is important to consider whether the salary would be hourly or annually.
- Equipment – The equipment should include the specifications. It is suggested for you to document the project equipment to help the grantors understand your project.
- Supplies – This is another essential thing of how the supplies will help you run the program. It is important to broken it down into categories.
- Indirect Costs – This includes the administration and facilities costs. This costs might not be provided by the agency you are applying to grant the help, but they might only allocate it in percentage.
How To Make A Grant Budget Plan?
There are some important aspects you should consider when making your budget.
- Make sure the cost estimation is realistic and credible. Do small research if it is needed and consider some aspects that might damage your credibility.
- Make sure the program narrative aligns with the budget plan. This is not a secret that many grantors always look at the budget before reading the whole proposal. Therefore, ensure your budget will not exceed the amount stated on the request.
- You must include the room for adjustment. For example, if your budget takes years, make the budget projection. This includes the salaries and also the quantities of the supplies inflation.
- Include the expenses and revenue – It is always two sections when you applying grant proposal. Divide the section into two parts which are revenue and expenses. It is normal when the grantor look at the expenses first because they want to know how much they should spend on a project.
This is also important to let them know that you are independent and not relying on the grantors. This means you are active enough to get stable income apart from the help of the grantors. This is also because some grantors also want to invest in nonprofit organizations.
Besides, it is important to always use the real numbers on your details. Grantors will never like extra numbers even though your purpose is to get some extra money to face some unexpected things. However, this sounds like you don’t have integrity!
Best Grant Budget Template Sample