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Question :
How do I answer questions to do with funding for creating a community wellness center?Im having trouble being able to get applications completed to apply for funding

Question submitted 21/07/20 @ 08:58pm
Industry: Funding & Finance
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  • Hi there – two sides exist in any funding application, first how much funding does the ‘activity’ cost for the Centre, and where are you going to get that funding from? What I would do is:-
    – do a bottom up analysis of
    –all of the proposed costs for the centre including establishment and running costs
    –all of the potential revenues for the centre (sponosorship, grants, services)
    —maybe also a list of ‘non-financial’ contributions which might be ‘in-kind’
    – work out how much money you need from the ‘various parties’ that you are applying for

    Sometimes, the funders want to see ‘who else’ is going to fund the Centre – often they maybe worried about being the sole funder – it really does depend and the other thing they might be worried about is the long-term revenue model for the Centre e.g. how do you fund this going forward.

    The hardest thing often is starting out – because no-one believes you or trusts you enough to grant you funding. Also you may want ’10 bucks’ to make this happen, but no-one will give you ’10 bucks’ until you prove you can do this – so think about ‘what could you prove for 1-3 bucks, which gives the funders confidence to give you more.

    Good luck. Andy

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