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Financial Plan & Project Funding
Financial Plan Considerations
Assuring that funds are available to develop and support the project is critical. Not only is this the case for the development of the school hostel facility and its initial operations but long-term to assure that the project is sustainable. The project will not be launched without the assurance that funds will be available both short and long-term.
Estimated Project Costs
The project costs are shown in the chart. The two major project budget categories are firstly for one-time school facility improvements and secondly, for annual operating costs. As may be observed, one time facility improvements are low since the hostel will be located in current underutilized school space with required improvements estimated at about $14,500.
Annual operating costs are at an estimated $17,000 which represents an annual cost of approximately $850 for each of the twenty students. The primary reason for the low operating costs is that costs in Nepal are low in comparison to other countries and accordingly, the U.S. dollar can go a long way.
Project Funding
Several funding sources will be used to finance the project. The predicted funding sources are shown on the chart. These are estimates and will be revised once funding commitments are made.
Funding Campaign
Several actions are planned to secure the necessary project funding. These will likely include:
- Facility Improvements - a grant application will be made to the local and provincial Nepal governments
- Operational Expenses - A special request to Ten Friends contacts will be made seeking project donations
- Child Sponsorships - A special request will be made to Ten Friends contacts by email and through the website for sponsoring individual children
- Other Non-Profit Organizations and foundations - efforts will be made to secure project partnerships and funding from these organizations.