Welcome to the third edition of the FundBase newsletter. 

Funding News
Australia's most comprehensive national science awards, the Australian Museum Eureka Prizes reward excellence in the fields of scientific research & innovation, science leadership, school science and science journalism & communication.

They are once again open, closing Friday 2 May and offering 20 prizes worth over $200,000 across four categories - Research & Innovation, Leadership, School Science and Science Journalism & Communication.

If you, your group or your project needs some prize money and exposure, this may be one way to achieve it.  The Award Dinner has become the largest single event in Australia celebrating and rewarding Australian science, research, leadership, innovation and science communication and last year was attended by almost 1,000 guests.

For more details, search on FundBase.

Fund Focus
Fund Focus this weeks turns its magnifying glass to the AgStart Scheme by the NSW Rural Assistance Authority.  It is a very handy grant for young people looking to get into or expand in the rural industries and they have just announced a new round closing 31st May 2008.

The purpose is to assist young people aged 18 and 35 to commence, develop or return to a career in agriculture or agribusiness.

Assistance available under the AgStart Scheme includes, but is not limited to:

• reimbursement of stamp duty on property purchase;
• succession planning and generational change;
• capital improvements/purchases;
• short course training, skills acquisition and development in farming, business and financial management; and
• professional mentoring or coaching, including professional advisory services (legal, accountancy etc).

For more info search on FundBase.

Grant Hound
This week the Grant Hound has sniffed out a broad and useful grant from the Scanlon Foundation.  Applicable only for organisations with Gift Deductibility Status, it will fund national organisations and can provide multi-year support.  It prefers innovative and creative projects, with a focus on Cultural Diversity and Social Cohesion, with the following main aims:

• Encouraging leadership from culturally diverse groups or individuals from culturally diverse backgrounds
• Building awareness and acceptance of the right to cultural identity and understanding of difference
• Enhancing the social development of individuals and/or groups from culturally diverse communities
• Fulfilling the potential of youth from multicultural backgrounds
• Supporting issues-based research that focuses on achieving cohesive social change.

For more details search on FundBase.

Funding Tip
Co-contributions of Funds
Last week we started talking about how to improve your level of co-contribution of funds using In-Kind Contributions.

Another strategy is to use "at cost" contributions.  Again, when your organisation doesn't have a lot of spare cash but has good contacts and generous supporters it is often easier for businesses to contribute goods "at cost".  This means that they can choose to sell a material or service to you that you need to achieve your project, at the wholesale cost to them (so they are not loosing money by supporting your organisation) but you can state the retail cost in your funding application.  The difference between the actual cash amount you have to pay them and the retail cost is their contribution to your project. 

So for instance, the Bob Cat Hire Shop may hire a Bob Cat to the project for the base cost of $20 per hour.  Normally they charge clients $60 per hour for the machine. Your funding application states the full expense of $60 per hour, your income is $40 per hour contribution from the Bob Cat Hire Shop and the other $20 per hour is requested from the funding body.

Remember you will need a quote from the donator which states the full cost and a letter of support that states that they are willing to charge at cost and contribute to the project. 

When you are seeking letters of support within the community for your funding application is often a good time to ask people if they would like to contribute in ways such as this. 

From the FundBase Team.