The pack includes:

• recording of the Forecasting Income & Making a Fundraising Plan session
• Fundraising Plan  & Cashflow spreadsheet
• Short guide on “Forecasting Income & Making a simple Fundraising Plan”

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The pack includes:

• recording of the Finding & Qualifying Funders session
• Funders Research spreadsheet
• Short guide on “Researching Funders and Qualifying Opportunities”
• Cheat Sheet of useful links to free resources

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Funders want to fund organisations which are well managed, solvent, have appropriate policies in place, and can adequately demonstrate impact – and a big part of fundraising is ensuring your organisation can clearly demonstrate this.

Beyond a well written proposal, this also means having good policies and systems in place, documents up to date, and all the necessary information at hand. Below is a check list – but don’t worry if you haven’t got everything in place yet. Development is a process, and, depending on your organisation size and project, you can often start fundraising with just a few things in place! Absolute essentials are in bold below, and you can download a colour coded check list at the end of this article.

1)Financial Management

• UK Bank Account in the correct name with two or more unrelated signatories
• Most recent set of accounts (signed & audited if relevant)
• Bank statement from the last 3 months
• Yearly Budget / Forecast 1 – 3 years
• Reserves Policy (Charities)
• Key Financials: income, expenditure, reserves (free and restricted)
  

2) Governance

• At least 3 unrelated Directors / Trustees / Committee Members
• Governing Document (Constitution or Articles of Association)
• Charity Commission and/or Companies House numbers
  

3) Policies & Compliance

• Safeguarding Policy (reviewed annually)
• Health & Safety Policy (reviewed annually)
• Public Liability Insurance
• Equal Opportunities Policy (reviewed annually)
• DBS checks (if relevant, renewed every 3 years)
• Privacy Policy
• Data Retention Schedule
  

4) Impact

• Beneficiaries numbers
• Outputs & Outcomes Framework
• Aggregated demographic data
• Case Studies
• Theory of Change

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Projecting fundraising revenue is a crucial step in every charity’s planning process – ensuring your operating budget is based on data, not hope and wishful thinking. This is particularly true of smaller charities, who might be relying on a smaller number of funding sources.

So how can you reliably forecast fundraising income? Although this is often presented as an impossible task, it’s actually very easy to do this accurately, providing you have been keeping a good record of past applications.

All you need is a spreadsheet for all your prospects for the year, with columns for:

• funders name
• amount of funding sought
• success rating (more on this below)
• amount adjusted to the success rating percentage

Risk Rating Funders

Forecasting grant income is all about managing risk. Every charity will have their own way of doing this, but I would recommend keeping it simple and splitting your prospects in 3 categories:

• funders who have never given to you before (cold prospects)
• funders who have given to you before, but have not made an ongoing commitment (warm prospects)
• funders who give to you regularly (regular donors)

Success Rates

To each of these categories, you will need to assign a success rate, working it out as an average over the past 3 years

For example:

If you applied to 50 funders over the past 3 years who had never given to you before, and 10 gave you a grant, your success rate for cold prospects will be 20%

Forecasting Income

Once you’ve done this, all you need to do is multiply amounts sought by the relevant success rating and add up.

So for example:

2024/25 Pipeline

Cold Prospects:
Trust A: £10,000 x 20% = £2,000
Trust B £30,000 x 20% = £6,000

Warm Prospects:
Trust C: £20,000 x 60% = £12,000
Trust D: £30,000 x 60% = £18,000

Regular Donors:
Trust E: £20,000 x 100% = £20,000

Forecast Grants Income for 2024/25 = £58,000

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