A Life After Rape Or Molestation Scholarship Fund Budget ✓ Solved

A Life After Rape/Molestation, Inc. Scholarship Fund Budget

A Life After Rape/Molestation, Inc. has identified various sources that will contribute to funding and maintenance of the ALARM Scholarship Fund. Outlined below is an explanation of the funding sources for year one of the scholarship fund: Anticipated Grant Award: $75,000.00. Private Individual Contributions: $35,000.00. Expected Fundraising Contributions: $22,000.00. Existing Funds Set Aside by ALARM: $13,000.00. Total Monetary Revenue: $145,000.00. ALARM is also expecting to receive in-kind goods and service revenue from various in the amount of $5,000.00 in addition to the monetary funding above.

The total cost for year one of ALARM’s scholarship fund is $150,000.00 which includes all costs of goods, services and funds disbursement. The in-kind services anticipated are as follows: A long folding table and two chairs will be donated by Mrs. Jenny Ordesi to use during volunteer recruitment events with a monetary value of $150.00. Three laptop computers with Wi-Fi capabilities will be donated, two by West Coast Pawn Shop in Tampa, Florida and one by ALARM Founder and Executive Director, Sandra Dakers, and have a monetary value of $450.00 each, totaling $1,350.00. Two new iPad tablets have been donated by an anonymous donor and have a monetary value of $500.00 each, totaling $1,000.00. A training room for two days of volunteer training will be provided by Victim Services Center in Orlando, Florida and has a monetary equivalent of $100.00.

A meeting room for a one-day final advisement meeting, notepads, and pens will be provided by Four Corners Upper School in Champions Gate, Florida and has a monetary equivalent of $150.00. The theatre room inside Oasis Club at Champions Gate will be provided by Joshua Frank, Club Manager at Oasis Club, to host a three-hour scholarship fund meeting with donors. Oasis Club will also be providing food and non-alcoholic drink services for the meeting. The theatre room’s monetary value is $500, including three servers and the food and drink services which have a monetary value of $500.00, totaling a monetary equivalent of $1,000.00. Two part-time volunteers working a total of 125 hours at a $10.00 per hour to assist with processing the applications have a monetary equivalent of $1,250.00 for the year.

Below are the anticipated costs associated with the scholarship fund: Salaries: $15,000.00. Background Checks: $300.00. Computer Equipment: $300.00. Personnel Travel: $50.00. Office Supplies: $25.00. Printing Materials: $125.00. Project Evaluation: $200.00. Scholarships Paid: $134,000.00. Total Program Expenses: $150,000.00. A salary of $5,000 to pay each of the three Founders and Directors for the first year for managing and maintaining the scholarship fund totaling $15,000.00. A background check and fingerprinting for each of the part-time volunteers to ensure the safety of the survivors and all people involved in the scholarship process. Four volunteers will be chosen to ensure availability though only two will work at a time.

The total cost for each background check is $25.00, totaling $100.00 for four, and fingerprinting is $50.00 each, or $200.00 for all four, totaling $300.00. A total of five laptop computers and iPad tablets will be utilized for recording data related to the scholarship fund and survivors. A security software that encrypts data will be installed on all five at a cost of $60.00 per computer or tablet, totaling $300.00. A Wawa gift card totaling $50.00 will be purchased for Director and Founder, Adryanna Macon, to cover gas and lunch expenses while recruiting volunteers. Papers, pens, notebooks, and planners for personnel use during the planning and implementation stages of the scholarship fund are expected to cost $25.00.

Printing paper and ink for the printed scholarship applications and accompanying directions will be purchased for $125.00 from Wal-Mart. The total amount of scholarship money paid, $134,000.00, is based on 60 students attending a higher education program in year one making the average reward amount $2,333.34. This amount considers a student enrolled at least half-time, with the current average cost per credit hour for a public Florida state or community college being $109.81 for in-state tuition, including all associated fees. To ensure all funds are properly managed, a third-party Financial Account Analyst will be obtained to conduct a year-end review of all the scholarship fund financials at a cost of $200.00.

Paper For Above Instructions

The ALARM Scholarship Fund proposes a comprehensive budget plan that outlines the anticipated funding sources, expected in-kind contributions, and projected expenses for the first year of operation. The fund's goal is to provide substantial scholarships to survivors of rape and molestation, assisting them in pursuing higher education and overcoming the challenges they face.

As identified, the total budget for the first year is $150,000. This budget is meticulously crafted using a diverse range of funding sources. The anticipated grant award, private individual contributions, expected fundraising contributions, and existing funds set aside collectively contribute a total monetary revenue of $145,000. Furthermore, an additional $5,000 worth of in-kind goods and services boosts the fund's capacity to support beneficiaries effectively.

In-kind contributions play a crucial role in minimizing operational costs. For instance, donations such as laptops and tablets from local businesses and individuals save significant funds that would otherwise be allocated for technological needs. The generous support from community members with items like tables, chairs, and meeting spaces creates an environment conducive to volunteer engagement and training without incurring additional costs. This philanthropic spirit exemplifies community support for survivors.

On the expense side, major allocations include salaries, scholarships, background checks, and office supplies. The salary distribution is calculated to ensure that the directors and founders are compensated fairly for their roles in managing the fund. A total of $15,000 is allotted for salaries, ensuring transparency and proper governance. Background checks enhance the safety and security of volunteers and participants alike, ensuring that the fund operates with integrity and accountability.

Moreover, the scholarship allocation itself amounts to a staggering $134,000, aimed at supporting approximately 60 students in their educational journeys. By providing substantial awards, the fund seeks to alleviate the financial burden associated with tuition fees and related expenses, empowering survivors to pursue their educational goals. The average scholarship value of $2,333.34 is strategically aligned with the tuition rates of in-state public Florida colleges and community institutions.

In summary, the ALARM Scholarship Fund represents not just financial support, but a commitment to the empowerment and upliftment of survivors of sexual violence. The carefully crafted budget exemplifies strategic planning, community involvement, and a strong focus on achieving meaningful outcomes for the beneficiaries.

References

• American Association of Community Colleges. (2022). Community College Facts.
• Florida Department of Education. (2023). Higher Education Enrollment Report.
• National Center for Education Statistics. (2023). Digest of Education Statistics.
• U.S. Department of Education. (2023). Federal Student Aid: What You Should Know.
• Foster, A. (2021). The Impact of Scholarships on College Outcomes. Journal of Student Financial Aid.
• Public Interest Projects. (2023). In-Kind Contributions to Nonprofits: A Guide.
• Rape, Abuse & Incest National Network. (2023). Statistics on Sexual Violence.
• Smith, S. (2022). Creating Effective Budgets for Nonprofit Organizations. Nonprofit Quarterly.
• The Center for Nonprofit Excellence. (2023). Volunteer Management: Best Practices.
• Victim Services Center. (2023). Volunteer Training Programs Overview.