TOPIC | Is your School's fundraising feeling stretched and challenged?
When the government closed its stage 2 consultation on the new national funding formula for schools last month, many senior leadership teams reacted with a sharp intake of breath. Given that over the next 14 months, around 9,000 schools may be bracing themselves for significant cuts in funding and the prospect of an uncertain future, levels of anxiety look set to rise.
Whilst the government says the proposed cuts will be phased in and capped at 3% overall, for some schools this is likely to be the straw that breaks the camel’s back. The National Audit Office has warned that schools in England can anticipate an 8% real-terms cut in funding per pupil by 2020, and for some this will mean the new formula comes as an added strain on already stretched budgets.
Opening doors to new sources of funding and financial sustainability
In our experience, sometimes the most challenging threats to income streams can open doors to new and more reliable sources of funding. In fact, the pressure to review or recalibrate, can often spark creative solutions to what previously looked like towering obstacles. Our Directors at Gifted Philanthropy have worked with schools across the UK, to develop bespoke fundraising strategies that focus on long-term financial sustainability. We recognise that every school is different and having partnered organisations across the third sector, can offer a fresh and pragmatic perspective on the funding issues you face.
So, if your School is being forced to have some difficult conversations about the road ahead and you’d like to know more about the potential for building philanthropic support, we’d love to hear from you. Either get in touch to arrange an initial, no-obligation discussion of your School’s fundraising needs - or let us know if you’d be interested in attending a free workshop on planning for transformational fundraising in response to the new national formula.