How to Create a Great Proposal

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How to Create a Great Proposal

• Jason Tenenbaum
• Ryan George

Finance Board of SGA Illinois Institute of
Technology
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Outline

• Bare Bones
• What FB Looks For
• General Rules of Thumb
• Creating the Proposal
• Sample
• Advice/Questions

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The Bare Bones

• Every proposal must include
• Proposal description
• Line item description
• Current years budget
• Previous years budget
• Membership List

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Proposal Success

• Proposal Success is dependent on how well
  proposal meets expectations and standards
• Success KProposal
• K meeting FB expectations

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What Finance Board Looks For

• Technical Components
• Financial Responsibility

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Technical Components

• Adherence to Guidelines
• Benefits maximum students
• Not for alcohol, fundraising, etc.
• Article VI, Section B.
• No signed, financially binding contracts
• Limits for funding (i.e. conferences)
• Funding available in time for purchase/event

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Technical Components

• Completeness
• All required items are included
• Math adds up
• Line item descriptions correspond to cover page
• Costs correspond to cover page

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Financial Responsibility

• Justification
• Explanation of why cost is warranted
• For each expense
• For each selection (comparison quote)
• Sufficient interest/need for expense

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Financial Responsibility

• Proof of Research
• Quotes proof research was done
• At least 1 quote for every cost
• Comparison quotes for most costs
• Exceptions for comparisons
• Peapod, Office Services, Sodexho, Office Depot

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Financial Responsibility

• Proof of Interest
• Must show that there is a need/desire for event
  or budget
• Examples
• Surveys
• Written results
• Past event success
• Membership

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General Rules of Thumb

• Include any and all research done for proposal
• If your going to say it, include it
• Justify on paper
• Thorough vs. Concise?
• Thorough!
• Include all costs for event (organization
  contributions)
• Document quotes
• Email, fax, phone
• Contact info for phone quotes

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General Rules of Thumb

• Compare items for same need
• i.e. pizza for 20 vs. sandwiches for 20
• Modify template according to needs
• Double-check proposal
• Are all expenses necessary?
• Bring a copy of proposal to hearing
• Should I include?
• YES!

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Creating the Proposal

• Proposal Description
• Limit to 50 words
• Explain what and why
• Save lengthy descriptions and explanations for
  line item description

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Creating the Proposal

• Line Item Description
• Meat of the proposal
• For each expense
• Explanation of cost
• Breakdown of cost
• Comparison quote
• Justification
• Proper place for elaboration

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Creating the Proposal

• Current and Previous Years Budget
• Template online
• Planned and projected expenses
• Add and delete items according to need
• Be cautious of formulas
• Scale to 1 or 2 pages

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Creating the Proposal

• Current and Previous Years Budget (continued)
• If no previous years, indicate in proposal
• Bare minimum
• Income
• Expense

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Creating the Proposal

• Membership List
• Membership must be composed entirely of IIT
  students
• If larger organization (RHA, etc.), include list
  of primary members
• Exec. Board
• Regular attendees

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Sample Proposal

• Sigma Phi Epsilon
• Operating Budget
• Created By
• Ryan George
• Nirmal Shah

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Advice

• Propose Early
• Use your resources
• FB members office hours
• Advisor
• Mary and Vickie
• Members of your organization
• http//fb.iit.edu

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Questions?

• fb_at_iit.edu
• http//fb.iit.edu