School principals are going to have to put another skill to work. They are going to have to become skilled in fundraising and grant writing. More and more their skills at generating money to cover the budgetary shortfalls are going to be needed.
Public schools are increasingly under budgeted. The United States government is trying to steer more money their way. In the meantime until the schools get this money they are going to have to generate it from a variety of sources.
Principals Are Off Attending Fundraising Workshops
The new skill set that principals are learning is more like divining than institutional. Instead of taking their rod in search of water it’s more about looking for funding where the money used to flow. Using fundraising techniques taught in workshops all over the country the school principals are updating their techniques for a leaner economy.
In conjunction with chocolate bars sales and car washes contacting the government, foundations and corporations is where they have to go to find money.
Government Funds
Many government grants are targeted to minority students or to the largest population centers. Students who are Non English speaking or limited English speaking, as well as those schools with students eligible for free or reduced free lunch programs get government funding.
The trick with government funding is finding out what department offers it and timelines for applications. There are many branches that offer funding besides the U.S. Department of Education and local state departments of education. Check with the U.S. Department of Health and Human Services, the U.S. Department of Energy, the National Science Foundation, as well as the National Endowment for the Arts and the National Endowment for the Humanities.
Big Time Individual Contributors Are Still Out There
Close to 85% of the money raised for non profit organizations, churches, public and private schools and universities comes from individual donors. The majority of the people shoulder the majority of the debt. There are campaigns that are designed to get their attention yearly so once you have theses donors interested in your cause you can hopefully keep them interested for years to come.
Annual Campaigns
These are the entry level fundraising events. Every organization has their yearly campaigns that sell goods like chocolate bars, cookie dough, and other food items. Also it’s special events fundraising like dance a thons, auctions, diner meetings and concerts. It will cover donations from your website and just about any other way of soliciting money, one on one from a donor.
Continue along to the other series of articles about the variety of fundraising resources available. As we go up the list from Annual Campaigns the campaigns get more streamlined with bigger donations.
In the previous document we looked at the new situation school principals find themselves in the new economy. Funding is going to be tight for the next couple of years and people involved with school projects and non profit groups are going to have to depend on new ways to generate money.
We last left off looking at annual campaigns as the most common form of fundraising. There are other options which help to raise more money.
Capital Campaigns
Capital campaigns are bigger in scope than annual campaigns and last longer to accommodate the goals. Principals would use these campaigns for adding an addition to the school like a science or performing arts center and would last three to five years.
A good way to encourage people to step up and be the lead gift giver for this campaign is to offer them some kind of public recognition for their contribution. You can name the addition after them or put a plaque in the foyer of the building honouring them. You can even include major contributors divided into monetary levels donated. That way the average donation price will rise in order for individual and commercial donations to hit a certain level.
Once the main portion of the building is named start auctioning off the remaining parts of the new construction like the library, stage, dressing room or seats for additional income. The main reason capital campaigns can raise such big contributions is the size of the gift being offered the donor and the exact reason donors are so motivated to give.
Planned Giving
Principals and non profit organizations may also look into different forms of compensation. Since in the new economy cash may be a little hard to come by gifts of non cash assets will work as nicely. Any gift of stock, bonds, mutual funds, life insurance or home, cottage and rental properties can be included. The donor may have to consider their estate plan and tax situation.
Legal documents should be prepared to indicate the gift and signing over of land or material gifts. Due to the legal entanglements it would be worthwhile for principals to get in touch with private schools, colleges and universities who have already instituted planned giving into their funding.
With annual fundraising combined with capital campaigns and planned giving the fundraising options are explored. Added to their arsenal of grants public school Principals will have more options for getting the funding they desperately need.
In the previous document we looked at the new situation school principals find themselves in the new economy. Funding is going to be tight for the next couple of years and people involved with school projects and non profit groups are going to have to depend on new ways to generate money.
We last left off looking at capital campaigns and planned giving. The giving is bigger in scope and more complex with the potential for lawyers with the giving of non monetary gifts like stocks, bonds and land.
Preparing Yourself for Grant Writing
As the president of a public school or non profit society education for your grant writing will be well spent. Take courses and workshops to get you up to speed.
Continuously look for new grants that are available. Search trade journals, newspapers, the web and newsletters to find out grant opportunities in advance.
Network with your teachers and industry professionals for information on new grants. Ask if they could lend their names to your application. Any help would be appreciated in trying to finish the grant in time and with professional feedback.
Write clearly. Show your plan and vision is well thought out and worked from every angle. Show measurable goals and a reasonable budget. Show them your passion for your project but keep them awake. They want to know that they money they are giving you is going to a secure project.
Filling Out the Grant Forms
Grant applications take a lot of patience. There are so many out there and it takes a little detective work for you to find out what your school or non profit organization qualifies for. Read over the directions thoroughly. The government gets so many grant applications if it finds out one is filled out incorrectly it is denied. Make sure every question is filled out completely, this may take research into your schools tax forms but any questions left blank on your grant application leaves it denied.
Try to pass in your government and private grant applications early. Private grants need to be submitted as quickly as possible. Sometimes they are given out in a first come, first served basis. If you miss a deadline for any grant it’s dead. The grant application deadline is the basic requirement and no leniency is given.
Combined with your annual fundraising program, grant writing can help you bring in larger donations.