Foundation Budget Development

The budget for a project contains a variety of categories, including the funds that are being requested from the donor along with the support that the University or other sources will provide. The University’s support can take various forms and the components of this section of the budget should be reviewed with the chair, the dean and the academic vice president so that any commitments that are being made to a project in terms of time, money, space, etc. are approved well in advance of a submission. Foundations do not require a set amount of matching support, however the most competitive proposals make a case for one-quarter to one-third of support from other sources including the University. It is very rare for a foundation to provide overhead support on a grant. Budget categories that are generally acceptable in a foundation request are described below. As a budget is prepared, the Office of Foundation Relations and the principal investigator work closely with Human Resources on questions related to salary and benefits. Budgets are prepared in an Excel document, unless the foundation provides a specific form for this purpose.

Budget Template

Sample Budget

Categories for Which Funding is Often Requested

1. Professional Staff Salaries –Summer stipends, and course release time for key personnel involved in the leadership of the project, can be requested.

2. Support Staff Salaries –Budgets on occasion contain funding for secretarial and administrative support to the project. The Fair Labor Standards Act requires that all non-exempt employees be paid a specified hourly wage for all hours worked up to 40 hours in a week, and “premium” rate for all hours worked in excess of 40 per week. The premium rate is usually 1.5 times the base hourly rate. This law also states that all work performed for a single employer, regardless of what department, division or segment of the organization may benefit, must be treated in this manner. Therefore, if the non-exempt employee is performing work for the grant, and it is being done during normal working hours, no extra compensation can or should be paid to that person. If, because of the work of the grant, the employee is required to work extra hours, those hours should be turned in to payroll and the employee will be compensated in accordance with normal payroll practices, which are in line with the law. Mark Guglielmoni in Human Resources will provide interested staff with estimated wages for support staff, should this be required to calculate expenses for a grant application.

3. Benefits –– Fringe benefits are calculated based on the kind of salary that is being presented in a project. Stipends and course release time generally include 7.65% of benefits related to FICA. Salaries for support staff as well professional staff are calculated by the Office of Human Resources and are provided to the Office of Foundation Relations upon request. This information is considered highly confidential and is handled accordingly.

4. Consultants –– Consultants involved in the evaluation of the project as well as other aspects of its implementation are often included in the budget. Cost considerations related to consultants include their fee for service as well as travel expenses. Conferences – Some projects include the implementation of conferences in which case costs for special guest speakers can include their travel, honoraria, food and lodging. If a conference is being conducted utilizing grant funding, then all of the costs associated with the event can be considered.

5. Travel – Travel can include attendance at conferences for educational purposes as well as dissemination of the work. Typically, conference registration fees, airfare, meals and lodging are included.

6. Equipment – Some budgets request support for computer equipment, phones, faxes, copy machines, etc. If there are restrictions related to funding for this category, the foundation will include this information in their funding guidelines.

7. Student Research Assistants – Funding can be requested for student stipends, summer housing costs, food and travel.

8. Administrative Costs – This category includes supplies, printing, postage, telephone and materials.

Categories Often Considered in the University Support Section of the Budget

Library Resources –Funding in this category includes the purchase of books, journals, software and other educational tools for the project or the University’s library. Often Considered as Part of the University Support Section of the Budget.

Housing for Student Research Assistants – This cost on occasion and with approval from the dean and the academic vice president, is sometimes included as a financial commitment on the part of the University.

Travel – If a department has a travel budget that may partially cover costs associated with a particular project, list in this section of the budget.

Space – When appropriate, the use of space for project staff or special events can be included in this portion of the budget.

Administrative Costs – Information related to administrative costs are calculated based on the commitment of a particular department to the implementation of a project.

Revenue – Some projects, such as the Quick Center, generate revenue which off sets the costs associated with fundraising. This information is included as part of the project.