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Foundation Center Proposal Budgeting Basics What is a project budget A project budget is the estimated financial plan for a project, for which funding is required.. Depending on the funder s guidelines, the budget may be a simple one-page statement of projected expenses, or an entire spreadsheet including projected support and revenue and a detailed narrative, which explains various items of expense or revenue.. For example, if the administrative assistant plans to spend 20 hours of her 40 hour work week involved with a project that is expected to last one year, you may budget for 50 of her total salary for the twelve-month period.. Proposals submitted to this grantmaker are expected to include a project and/or organizational budget, one copy of the IRS 501(c)(3) tax determination letter, and two years of audited financial statements What Next What happens after the proposal is approved It is important to remember that while preparing the budget, you often will be required to report back to the funder on a line item basis.. There are a number of resources on the Web, which provide samples of project budgets that might help you during the process of preparing the proposal: Nonprofit Guides has a sample budget, proposal cover letter, letter of inquiry, proposal, and other items that may be helpful to you..
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