Key Result Area 3: Resources and Funding
We require funding for three purposes:
Funding for Club Operations (‘Club Funds’) – for example: weekly meeting and overhead costs, change-over night, social events and consumables – must come from club members, not charitable fundraising or grants.
We aim to achieve the following outcomes:
- Sound financial planning and budgeting that identifies Heirisson’s required income to deliver the Club’s Portfolio of Programs, Projects and Relationships, and to operate the Club.
- Fundraising strategy aligned to our financial planning and budgeting.
- Fundraising projects that promote Heirisson and Rotary and engage our members.
- Allocation of funds and resources primarily to Heirisson projects.
- Leverage of our networks and relationships to maximise our funding and resources for community benefit.
- A high degree of knowledge and expertise in accessing grants, charitable foundations, sponsorships and donations.
The following information will assist us to measure our performance:
- Capacity to meet funding targets.
- The extent of member support for Heirisson fundraising projects.
- A balanced mix of funding sources based on:
|Funding Types||Funding Strategies and Sources|
|Cash that can be used flexibly for Heirisson’s charitable projects.||
The amount is limited to our fundraising capacity.
|Funds that must be dedicated to specific projects and deliverables (no flexibility)||Grants and Specific Donations, for example:
Funding may be for major projects and involve significant amounts (eg: Lotterywest grants for HeadQuarters and Place of Reflection – over $1 million).
- Demonstrated expertise in delivering fundraising projects and achieving fundraising targets.
- Demonstrated expertise in accessing significant grants and donations.
- Growing expertise in accessing funding sources for international projects.
|1. Achieve alignment between budgeting, funding needs and fundraising effort by:|
|a) Re-introducing financial planning and budgeting as part of the Club’s annual planning process to identify:
(with the Treasurer & Heirisson Board)
|b) Integrating assessment of the range of potential funding strategies into the planning stage of each project, that is:
(with Project Managers)
|2. Keep Heirisson members informed of the Club’s financial strategy and budget status.||Heirisson Board & Treasurer
(with Project Leader Communication)