Final budget

12/7/2023

$22,000 instrument acquisitions, repair costs, and upkeep expenses

$6,000 cases and accessories

$2,400 registration software + ongoing maintenance

$4,000 expenses for 2024 community engagement events

$34,400 TOTAL PROJECT BUDGET

TOTAL RAISED =	$35,174.00
ioby Fiscal Sponsorship Fee (5%)	N/A
ioby Donation Processing Fee (4%)	$806.96
TOTAL TO DISBURSE=	$34,367.04

Original budget

Considering the number of instruments in the lending library, we need help keeping those instruments in good working order. Below is an example of instrument expenses:

$500 - Setup for a violin ~$100, cost for 3 violins and care for minor repairs.

$250 - Setup for a cello, including new strings

$1,500 - Guitar repair work for an individual instrument ~$75, with several guitars to care for with various needs, that quickly adds up

$2,000 - Piano tunings each season for the in-house pianos ~$480 each, 4 tunings annually.

$2,000 - Electronic gear repairs range anywhere from $200-500, estimate for several amps to service

$1,200 - Accordion repairs ~$400 each, x3

$400 - Percussion instruments require new drum heads, sticks, various hardware

$400 - New pads/corks/keys and setup for wind instruments ~$100 each (saxophone, trombone, flutes)

$1,200 - Supplies to prepare each instrument for loan + the cost of our lending software ~$100 each month, x12

$3,000 - Protective cases for all instruments in the lending library. ~$300 average cost, projecting 10 cases in first year

$9,000 - Wholesale account with leading instrument makers to acquire additional instruments in high-demand categories and unique instruments needed for the lending library. Estimated cost of $500-$1000 per instrument. Projecting 12 new instruments in first year

Total need: $21,450

PROJECT FUNDING NEEDED	$30,000.00
ioby Fiscal Sponsorship Fee 8%	N/A
ioby Donation Processing Fee 4%	$612.24
TOTAL TO RAISE	$30,612.24

Donation processing fees apply to donations only. 100% of match funding goes to projects. Please note, fees are estimated here, and final numbers may change based on the final amount raised and amount of match funding applied to this campaign.

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The above costs are the bare minimum and for what we currently have in-house, as instrument needs arise and the donations continue coming in, the cost of maintaining the lending instruments will also increase. Having a reserve fund ensures we can service new instruments as they arrive and care for those that come back after being borrowed. Anything over $21,500 will be put into the reserve funds for anticipated instrument donations in 2024.

As you can see, it can be quite expensive to own an instrument. That is why the Folk School is excited to have an option for new music makers, a resource that saves them money as they are exploring which instrument suits them best. Plus, this gives them an understanding of what it takes to own an instrument and the care it will require. Folk School of Fayetteville does not require a rental payment for instruments. Our lending library is a free resource for the community as they explore their musical expressions

Folk School of Fayetteville - Instrument FundProject photos

Folk School of Fayetteville - Instrument Fund
Project photos