ABSTRACT
This chapter provides a general framework and practical recommendations on how to plan the overall fundraising process, especially related to raising money from foundations, sponsors and charity events. It presents orientation on the preparation of the financial and fundraising section of the strategic plan, based on key financial documents. Elaboration of the financial and fundraising section of a strategic plan requires an understanding of the basic terminology in this field, as well as the specificities of applying it to the arts and culture sector. Financial resources are basic for the functioning of any arts organisation. Financial planning aims to determine how an organisation can achieve its mission and objectives in monetary terms. A financial strategy is a way to secure the necessary financial resources for the realization of the strategic plan and utilization of these resources in the most effective way within a time frame. An important role in the financial planning process is budgeting.
