COST & BUDGETING

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Donations from people, corporations, and grant-making trusts and foundations are the charitable organisation's primary revenue sources. In addition, Children in Need generates funds via several other fundraising events and projects, such as their annual appeal, which takes place on the first Friday of November each year. The ultimate donation figure for the 2016 BBC Children in Need Appeal was released in 2017 and was a record-breaking £60 million. After the 2016 BBC Children in Need Appeal broadcast, which raised a record-breaking £46.6 million, contributions and fundraising money flooded in, bringing the total to £60 million (Spierson, 2017).

How is the money spent?

The funds generated for Children in Need are used toward several programs and initiatives that assist disadvantaged children and their families. The charitable organisation gives financial assistance through grants to non-profit organisations that help disadvantaged children and young adults, such as those living in poverty, handicapped, or have educational requirements that are not standard. The charity Children in Need's budget is divided into two primary groups: program expenditures and administrative expenses. The funding allocated by the charity Children in Need for program expenditures is used to purchase program materials and cover any other costs related to the program's operation. This enables the charity to deliver its services to disadvantaged children and contributes to ensuring that the programs are carried out in an orderly and effective manner. Because it has a budget for program expenditures, the charitable organisation can keep a closer eye on its spending and ensure that its resources are used efficiently. The administrative expenditures category of the budget for the charity Children in Need covers costs related to maintaining the office, paying for administrative employees and any other costs involved with running the organisation. The budget is meticulously planned out to guarantee that the charity will be able to meet all of its expenses while at the same time providing the greatest possible amount of aid to children who are in need. Depreciation, rent, utilities, and office supplies are all included in the charitable organisation Children in Need's office overhead costs (BBC Children in Need, 2019). The budget also accounts for the salary of the administrative employees of the charitable organisation.

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