7
Budget
Creating (and sticking) to a budget is important in planning a successful event. Whether the chapter
hosts an informal tailgate or a formal banquet, be sure to budget accordingly.
Once the chapter approves to host an event, the chapter will also need to determine how much money
the chapter is willing to spend on it from chapter funds. After researching venues and vendors, the
committee will have a better understanding of the costs. Knowing the costs and how much money the
chapter currently has will allow the planning committee better determine an appropriate budget.
Revenues
Is this event free of charge or are you going to charge a registration fee? It would be great if the chapter
could fundraise enough money to have a free event, but this isn’t always feasible. Once the budget is
approved, the chapter will determine if a registration fee will need to be collected based on costs of
things. Guests, including chapter brothers, typically will pay some fee to help cover all event costs (not
just for food).
Whether the chapter wants to raise money for a chapter scholarship, your Chapter’s Leadership Fund, a
special project or local charity, take advantage of this occasion to ask for help. The large number of
guests at these types of events will mean the chapter’s impact will be greater. Instead of charging an
admission fee or ticket cost, consider encouraging guests to bring donations. Alternatively, if you do
charge admission, ask for a small donation in addition to the registration cost. Also consider holding a
fundraiser at the event, such as selling merchandise, holding a silent auction or hosting a raffle. (Before
hosting a raffle, be sure you are following all local policies and laws–raffles may not be local and/or may
require you to have a license.) Just be sure to not make the entire event about fundraising as you may
distract from the main goal of the event–brotherhood. Contact foundation@dsp.org to get some
materials to help promote Leadership Foundation donation options to support your chapter.
The chapter may also consider
applying for money from the
university/institution as there may
be funds available for student
organizations. For larger events
taking place on campus with a
large number of alumni and
guests, the university/institution
may be willing to support the
event with funds or other
resources.
Expenses
Items to budget for (This list is not comprehensive and your chapter may have other expenses to
consider including parking, hotel rooms, etc.):
● Rental Fee for location and additional items like tents, tables, chairs, dinnerware and more