- Add up the budgets (venue, food, parties space, schwag) to generate a total event budget to determine the amount of money needed to cover costs
- Plan on covering most of the expenses through sponsorships to keep ticket prices low
- Ticket prices should generally be somewhere between $50 and $100, depending on location and event costs
- Allocate some budget for scholarships/discounts for students and underrepresented groups
- Allow 10% overage as there are often unexpected costs
Role of finance team/lead
- Invoicing sponsors and accepting their payments.
- Accepting money from and (as needed) sending official invoices to people that register
- Paying suppliers like the venue, catering, T-shirts, etc.
Finance management options The way many organizers have handled money management is to find a local company that is willing to handle the logistics. In some countries, a local company is the only way to handle the taxes.
Option 1: One of the organizer’s companies serve as the financial sponsor. They will need to be able to do the following:
- Have a way to collect all the money from sponsors and registration (PayPal, Eventbrite, etc.)
- Invoice sponsors
- Pay suppliers like the venue, catering, T-shirts, etc.
Option 2: If a local company is not an option, we recommend several companies that are willing to help you for a fee, generally 10%.
If you would like to use this method, contact us on the KCD Organizers Slack channel to get more details.