What sources of funding are available to
Although grants are what people think of when looking for
funding, there are many other sources of funding that should be
considered. These funding sources need to be explored further to
see if they would benefit your organisation and help diversify your funding base.
The Wales Third Sector Funding Portal provides a
good starting point to do this.
How do I find funding sources?
The best place to start is by conducting a funding search. There
are several searchable online databases available, most of which
you need to subscribe to. However, WCVA and your local county voluntary
council have access to these databases and may well run a
search for you. Alternatively, you can conduct a funding search
yourself. The search will produce a list of potential funders. Each
of these funders will need to be researched thoroughly to ensure
that you meet the funder's criteria.
Which funding source is best?
Each funding source has its own advantages and disadvantages. As
your organisation grows you should seek to write a fundraising strategy
and generate income from several funding sources. This will help
you to plan your future fundraising activities and spread your
income across different funding sources. Avoid being reliant on
just one or two funders. This will ensure your organisation has a
future when applications fail or a project comes to end leaving you
with no money.
How can we get money from the public?
An information sheet on Giving
- sources of funding provides details of the various ways of
raising funds from the general public. Funds generated from this
source can come from donations, buying goods or raffle tickets,
sponsorship, membership or through legacies. There are also ways of
making more money from public donations as registered charities can
often claim back tax on donations through Gift
What grants are available?
There are many different grant giving bodies from European
funding to central (Welsh Assembly) or local
government to the National Lottery and charitable trusts and
foundations. All these funding sources have their own processes
for applying and no two will be exactly the same.
The National Lottery through
the Big Lottery Fund offers a variety of
grants. These range from small grants of £5,000 through to much
larger grants of up to £1 million. Community participation for
disadvantaged people is at the heart of lottery funding.
Charitable trusts and
foundations provide about £2 billion in grants each year. They
all have different criteria and application processes and tend to
have fewer strings attached than other funding sources. On the down
side many trusts only meet a few times a year, there is alot of
competition for funding and the majority of trusts are not keen to
become long-term or repeat funders of groups. The
Association of Charitable Foundations provides further
information on UK foundations and grant making charities.
Grants - How do
I apply? provides further information on writing funding
What restrictions are there?
All funders will provide details of funding criteria for
projects that they wish to fund. It is important that you read
these carefully as failure to do this often results in many
applications being turned down. Common restrictions include:
- Only funding registered charities
- Only funding capital items
- Only funding new projects or initiatives
- Not funding staff costs
Restrictions such as these will be listed in the funders
criteria and guidance notes. Make sure you read them as it can save
you time and wasted effort!