Schools need funding to offer quality education to their students. However, more often than not, they have to grapple with limited funding, which inevitably hinders their mission. Government budgets cannot match the ever-increasing demand, which puts an immense strain on the school’s finances and personnel.
Schools, especially those from low-income areas, are forced to make do with low-quality facilities, instructional materials, and underpaid teachers. In this wake of constrained government resources, what are some other innovative ways to provide funding for schools?
Read on as we discuss the options available for schools to close the funding gap.
Go Fund Me
GoFundMe is a crowdfunding platform that allows people to fundraise for multiple needs. It is easy to set up, and anyone can set up a fundraiser within minutes.
It has multiple categories, including education and learning, allowing teachers to get extra funding for their classroom/school projects. However, it is noteworthy that some school administrators strictly prohibit teachers from using this platform to raise funds. Therefore, teachers are advised to consult with their principals before embarking on a fundraising journey on this platform.
One notable thing about fundraising through these platforms is that the donors have no ownership over the school project and therefore retain no power to dictate how the money is used or give conditions. There is vast potential in crowdfunding using GoFundMe (and similar platforms), but there is also great potential for misuse of the funds.
School Bonds
Bonds are alternative ways for school districts to raise extra funding for schools. They are used to fund buildings and other major projects. However, community members within the school’s locality must vote for the bond to be approved.
The requirements for the bonds depend on the local/state rules. It is also noteworthy that getting these bonds approved is a complex and tedious process that requires the school to indicate the exact type of project they are undertaking.
Fundraising Projects
Fundraising is one of the most obvious ways of providing extra funding for schools. We have talked about the basics that should be in place to attract donors and how to choose a fundraising platform. There are plenty of creative ways schools can approach fundraisers, including read-a-thons, hosting school events, variety shows, silent auctions, soliciting funds from alumni, hosting dance competitions, and money-generating activities like school lock ins so much more.
Education Organizations
There are plenty of organizations whose sole purpose is to offer financial support to teachers. They include literacy associations and teacher retirement organizations.
Depending on the state, many of these organizations offer grants that teachers can apply for and direct the money towards their classroom/school projects. All they need is to draft a compelling application showing how the grant would help the school accomplish its project and the impact it would have on the students.
These grants can provide amounts of up to $10,000 a year for qualified schools. Needless to say, this is a significant amount that would go a long way towards helping a school deliver its mission.
Business Funding
There are plenty of big and small business franchises that are willing to fund schools in the form of grants. Some examples are Walmart and Dollar General. Some grants are straightforward and easy to apply for. Suppose the school can find a way of thanking them publicly. In that case, many businesses, even from the local community, are willing to chip in and provide additional funding for schools.
The same can be said of service clubs and sororities that offer grants to schools as long as they align with their missions and visions. Some offer grants, while others are willing to donate directly to your school’s project.
However, the school must ensure the business doesn’t compromise its values. For instance, a school cannot partner with a beer-making business, notwithstanding their ability and willingness to offer a grant.
Another option for business funding is finding sponsors for programs. Most notably, this occurs for school sports, but there’s no reason you can’t contact businesses about sponsoring other non-sports programs.
Government Grants
Government grants are a great way of securing funding for your school, but they are also the hardest to access. There are state and federal level grants, but they are ultra-competitive, and your school must beat applications from other schools to secure the funding. High poverty schools and those in dire need of improvements are likelier to secure those government grants than counterparts from more affluent areas.
If your school intends to benefit from government grants, pay attention to the deadlines. The deadlines are typically strict, and missing out even by seconds can render all the hard work useless. Additionally, complete each section of the grant application thoroughly and accurately. Misrepresenting your data on the application is a sure way of missing out on the grant.
Renting Out School Facilities
Schools and school districts can get extra money by renting out their facilities.
Things like a school’s printing press can be used to crank copies for the city government. Parking spaces beside the school’s football fields, which usually are empty unless there is a night game, can be rented out to the company across the street during business hours, resulting in tens of thousands of dollars annually, which would be enough to pay a few teachers.
Alternatively, schools can also sell ad spaces on the side of their buses, fences, or on the roofs of their school buildings (which would be big enough for planes overhead to see) to local businesses. Some districts are already using this method to complement their budget, with varying degrees of success.
Finally
With budgetary cuts and decreased funding, schools have been forced to develop innovative methods of getting extra funds. While the government ultimately has the final say on budgets, schools and school districts shouldn’t wait as the students under their care are looking up to them to provide the learning opportunities to help them achieve their future goals. The above are tried and tested solutions that schools can implement to cover the funding gap that is growing ever bigger.
If you are interested in knowing how we can help, please don’t hesitate to contact us. We are honored to be partners with you.
