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At the heart of every mission-driven grant proposal stands a mission-driven budget. A good budget provides an honest, complete, and clear picture of the total value of all the resources necessary to perform the proposed work. It also stands as an invaluable management and evaluation tool when it comes to running the grant-funded program.
So … how do we get there from here?
That’s the question we’ll explore in this down-to-earth, myth-busting session.
- You’ll learn and practice how to take “total value” approach to budget-building, to clearly and compellingly show the value of everything it takes to do our work successfully.
- You’ll learn why you should never plan your proposal budget using the form the grantmaker gives you … and what you can use instead.
- Working with a real-life scenario, we’ll make our way through each of the six major budget categories … looking at the key issues and challenges you can expect to run into in each one.
- You’ll have the chance to whip out your calculator and try your own hand at thinking through some of the situations in our real-life scenario – some are pretty tricky!
- You’ll get a behind-the-scenes view of how grantmakers evaluate your proposal budget – and what your budget tells them about your organization.
- And we’ll clear away the confusion around value of volunteer time, accounting for “match,” handling administrative/indirect costs, and other perennially perplexing budget issues.
BONUS: In this session, you’ll be introduced to GrantsMagic U’s exclusive Master Budget Planning Checklist and Worksheet, a powerful planning tool to help make sure you’re crafting a budget that is comprehensive, realistic, and bullet-proof—and that will work for you, your organization, and your grantmaking partners.
PART 1. GETTING TO KNOW THE TOTAL-VALUE BUDGET FRAMEWORK (runtime: 38 min.)
- What is “Total Value” – and Why Does It Matter?
- Setting the Context: The Hierarchy of Budgets in Your Organization
- The Total-Value Planning Tool: Basic Version
- Two Working Examples: The Post-Hole Digger and the Maxillofacial Surgeon
- The Total-Value Planning Tool: Full Checklist Version
PART 2. BUILDING THE TOTAL-VALUE BUDGET: OUR WORKING EXAMPLE (runtime: 35 min. – allow extra time for hands-on exercises)
- YouthPlay and Been There: Introducing Our Real-Life Scenario
- Salaries (with Exercises)
- Employee-Related Expenses
- Contractual Services (with Exercise)
- Space Costs (with Exercise)
- Equipment; Supplies
- Travel Costs
- Building Costs; Other
PART 3: WHAT ELSE DO YOU NEED TO KNOW ABOUT THE TOTAL-VALUE BUDGET FRAMEWORK? (runtime: 28 min.)
- How Grant Reviewers Look at Budgets: The Bottom-Up Logic Model and ABC=123
- Those Tricky “Direct” and “Indirect” Costs, Defined
- Core Mission Support: A New Model for Thinking About “Indirect” Costs
- Working with a Grantmaker’s “Indirect” Costs
- Total-Value Thinking and the Direct-vs-Indirect Cost Ratio
- Sample Grantmaker Budget Form: Reporting Tool vs Planning Tool
PART 4: RECAP, REVIEW, AND NEXT STEPS (runtime: 13 min.)
- Total Value – Why It Matters … and the GrantsMagic U Total Value Pledge
- Wrap-Up: What Do You Know; Putting It Into Practice
This is an anytime, anywhere online video training. As soon as you enroll, you will have instant access to the recorded training and can watch over any Internet connection, on your own schedule, as often as you like.