Introduction

NumFOCUS is here to assist you with creating a projected budget for your event. Our team can help guide you through the budgeting process, ensuring you have a clear financial strategy in place. 

Establishing a projected budget is crucial before organizing your project event. This budget will serve as a guide for decision-making throughout the event planning process, ensuring that your revenue and expenses remain within a reasonable range and that you can adjust as needed.

There are various ways to create a projected budget. At NumFOCUS, we recommend creating a budget range that includes both a conservative ("sad") scenario and an optimistic ("happy") scenario. This approach helps you monitor potential outcomes and make informed financial decisions.

Conservative ("Sad") Budget

The conservative budget should be based on the minimum expected revenue from ticket sales and sponsorships, paired with the maximum projected expenses. This scenario ensures that, even in the worst-case situation, the event will at least break even and avoid financial losses.

Optimistic ("Happy") Budget

The optimistic budget considers the maximum expected revenue from ticket sales and sponsorships while estimating the minimum projected expenses. In this best-case scenario, the final net amount represents potential revenue after covering all event expenses. Any surplus can either contribute to your project’s overall funds or be used for additional conference amenities and enhancements (nice-to-haves).

Budget Template

You can create your projected budget using our Budget Template, which outlines both conservative and optimistic scenarios. This template will help you visualize both ends of the financial spectrum and plan accordingly for your event. It includes:

• Revenue

  • Ticket Sales (Conservative & Optimistic)

  • Sponsorships (Conservative & Optimistic)

  • Additional Income Streams

• Expenses

  • Venue Costs

  • A/V and Technical Support

  • Catering and Refreshments

  • Speaker Travel and Accommodation

  • Printing and Promotional Materials

  • Miscellaneous (e.g., supplies, insurance, etc.)

Instructions

1. Reach out:

   • Submit a ticket or email [email protected] to request additional information and get help establishing your event’s budget.

2. Estimate:

   • NumFOCUS staff will guide you through the process of estimating your budget and answer any questions you may have.

3. Track:

   • Once your budget is complete you can can use it to track spending and income as you plan and execute your event.

FAQ

Q: Why should I create both a conservative and optimistic budget?
A: By planning for both conservative and optimistic scenarios, you ensure that your event is financially secure, even if revenue doesn’t meet expectations. This approach also allows you to identify potential areas for investment if you exceed your revenue goals.

Q: What should I do if I end up with a surplus from my event?
A: You should work with the members of your project to determine how any event profits should be utilized. Since event income is considered donation income you can utilize it in any way that benefits your project and adheres to our nonprofit guidelines.

Additional Resources

For further assistance or to begin planning your event budget, please submit a ticket or email [email protected].