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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.
Estimated Project Costs
The preliminary estimated 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 an existing structure with required improvements estimated at about $11,600.
Annual operating costs are at an estimated $22,000 which represents an annual cost of approximately $900 for each of the 24 students. The primary reason for the low operating expenses is that costs in Nepal are low in comparison to other countries. The U.S. dollar can go a long way.
Project Funding
Several funding sources will be used to finance the project. The currently committed funding sources are shown on the chart and include a combination of government and school resources. Approximately 60 percent of project costs as of May 2025 have committed funding sources. The balance of required funding -- estimated at approximately $14,000 (representing 40 % of project costs) will need to be raised.
In addition, ongoing funding sources will need to be identified in order to assure the long-term viability of the project.
Funding Campaign
Several actions are planned to secure the necessary project funding. These will likely include:
- Facility Improvements - a capital campaign will be launched to raise the required funds to complete the facility renovations
- 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 Ten Friends website for sponsoring individual children. A special event may also be held.
- Other Non-Profit Organizations and foundations - efforts will be made to secure project partnerships and funding from other organizations and foundations.