Budgeting your exhibition

Budgeting your exhibition
What will the exhibition cost?  Calculating a budget is relatively simple, but may involve some guesswork, so it is always a good idea to include a contingency budget of at least 10%.  Try to think of and include all possible costs.  In addition to the obvious costs of commissioning artists and hiring and venue try to also think about the other possible costs, such as transportation of art works, drinks for the opening reception, advertising, exhibition invigilation, phone calls and postage. 
Some items may be provided on an in-kind basis by local businesses and the community - such as drinks, the venue and even administration time.  Do not undervalue any of this voluntary support. It is important you cost out all of these – especially if the budget is part of a grant application. You should show them as costs on the expenditure side and also as help in-kind on the income side.
 
Once you have worked out your probable costs you will need to project how you are going to raise the income required and which funders you are planning to target.  Remember that your budgeted income should always equal your expenditure.
 
 
Fundraising
To support an application to a funding body for your programme, you will need to plan ahead, create proper budgets and find sources of funding.  Keep these issues in mind to help make an effective application:
 
·         Plan well in advance and allow plenty of time
·         Be aware of deadlines - many agencies work a year ahead and have committee meetings only a couple of times a year. For example, an Arts Council application may need to be completed by December for a programme due to start the following June.
·         Do not apply for something that has already happened or halfway through your programme - no-one gives money retrospectively.
·         Be clear about the specific aims of different grants.  Find the funding source that fits your project and make sure your application fits with its aims. If you adapt your project to fit the funding, be very wary of lowering your own aims or standards.
·         Use the correct application forms.  No-one responds to a round-robin type letter
 
Local authority funding  
Ask your local authority arts officer for potential sources of arts funding.  Although they may have an open grants scheme themselves, they will be likely to know about other funding sources both within and outside the local authority.  If you are planning to run any education events as part of your exhibition you may be able to apply to other departments within the local authority, such as the youth and community departments.
 
Business sponsorship
Suggest ways that a business will gain from sponsoring your event: getting their name known; raising their profile; being linked to quality events
 
It is possible to get local or national sponsorship for private views and other events where catering or entertaining might otherwise be expensive. Local businesses (e.g. wine merchants, cafes, restaurants etc) might supply wine or food in return for a mention on your invites, posters and press releases.  Be sure to always tell the venue what you are planning to do in terms of marketing, carefully checking your contract, as this may be compulsory.
 
Trust funds
There is an enormous number of individual trust funds. You can find lists through your local voluntary organisation offices, libraries or local authorities.  Trusts often have very specific aims or only fund activities in particular geographical areas.  Do not waste their time and yours, if your event does not fit exactly with their aims. 

 
Further reading, external links: