Budget Summary

by Cynthia M. Adams, CEO, GrantStation.com

The budget summary section of the LOI includes the cost for the overall project and a summary of how the funds will raised and spent. Remember, your budget is the financial representation of your project so it must be believable. Rule number one: don't make up your budget figures! Always do the necessary research to get the cost of the project right.

To place your request in context, state your organization's total annual budget or the total budget for the program/project if you are requesting only partial funding from this source. Show community support such as in-kind contributions of time, services, and supplies, and discuss your plans for future funding. Make reasonable funding requests with respect to the scope of your project and the grantmakers resources.

Here's a sample budget summary used in a concept paper:

This project will cost a total of $175,000. Sandalwood Youth Camp has committed $11,500 to the project, and we are seeking $72,000 from grantmakers, including in-kind lodging from the Chattam Riverside Inn and travel support from several air carriers. We...