1. Create a spreadsheet calculating the total revenue needed to balance your budget against the expenses.
2. Let's figure out where your money is coming from. What are your sources of revenue? Break these out into relevant sources such as ticket sales ( memberships, subscriptions , single tickets, etc. ) program fees ( classes/ camps), product sales, service fees, etc.
3. Calculate a 3% increase each year for three years out to adjust for usual inflation . 4. Identify what percentage of your revenue will come from earned sources ( examples above) vs. gifted sources ( donations , corporate giving, grants , foundations, etc.).
Note: Gifts can be provided in lieu of any of your expenses , but those in- kind gifts are both revenue and expenses . For example , if a vendor decided to gift you free rent of office space , that is a gift. The business must account for this expense as if the business was paying it itself , as well as revenue from the vendor / donor . This ensures the business is doing its best to engage in sustainability measures .
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1. Create a spreadsheet calculating the total revenue needed to balance your budget against the expenses....