Module 4: Event Finance – Show me the money! 

When we speak to regional event committees, many are quick to tell us that their event is not about making money - it is something they do for their community and so they do not want to charge people to attend. We appreciate this, but if an event is going to be dependent on grants and sponsorship then it is limiting its potential and lifespan. Events of all sizes and scales need to have robust budgets and income streams beyond third-party handouts to ensure they are viable into the future.

 

Module Outcomes

  • You’ll learn techniques on how to be smarter with your event budget so that the end result is more positive, and your event becomes financially viable

  • You’ll gain insights into alternative revenue streams for your event so that you are not dependent on grants and sponsorship

  • You’ll understand how to do scenario planning and manage expenses so that you do not blow your budget

Lesson 1: Do you have a pathway to financial sustainability?

By the end of Lesson One you will have set up an achievable and sustainable financial vision for your event. You will have a targeted approach to your profit goals, and know how to reach them, as well as have a clear understanding of what is the driving force behind your event's financial goals.

Lesson 2: Making the event budget your new BFF

By the end of Lesson Two you will have all the skills needed to set up your event budget and how to keep it balanced.

Lesson 3: Revenue streams for events

By the end of Lesson Three you will have highlighted what your revenue streams are and have a clear understanding on how to determine all your expenditure items. This lesson gives you simple but necessary financial tools to help make sure you have thought of everything that will impact financially on your event.



Each lesson includes 

  • Online on-demand pre-recorded training video 

  • Supporting resources, tools and templates to help you action learnings 

  • Successful case studies and examples to highlight how others do it well

  • Links to further supporting readings, podcasts and blog articles to extend your knowledge 

  • Access to Q&A sessions to allow further discussion on the topic 

 

Resource included

  • Budget Template 

Sustainable event finance management.jpg

Case Study: Portland Rose Festival, Oregon

INTERVIEW WITH CEO JEFF CURTIS

With a festival budget‎ of over $3 million and attendance by over 1.2 million event attendees, we explore with Jeff the topic of FINANCE and how such a large festival remains sustainable and rides out the tough patches.

In the early 2000s the committee, the volunteer non-profit Portland Rose Festival Association, created a strategic plan that challenged traditional thinking and gave the festival a new vision. The plan didn't cut the budget or program elements but raised revenue with new program elements and by investing in core elements, using the festival’s strengths. It also included an aggressive strategy to increase the city government’s support of the festival.

 

Testimonial

We signed up for rEVENTS Academy because we were wanting to bring more professionalism and procedure into the planning and organisation of what has become a major event for our region, and to elevate the image of our festival to enable us to source and secure bigger, corporate sponsors and support. The program has provided clear direction as to the order of business to ensure we cover all bases.

- Kim Boyter, Event Coordinator, Goomeri Pumpkin Festival

 

Cost: $150 + $15 GST for individual or event committee

Linda Tillman