Budget and financial management is a crucial part of project management. This is even more so for the grants that the European Youth Foundation provides to youth organisations, since the EYF budget is made up of public money for which there needs to be transparency and accountability.

For youth organisations, financial management is a continuous process linked to the activities carried out by the organisations to fulfil their mission. Making sure the money is well spent and that there are no losses which could have been avoided is also part of the sustainability of the organisations.

Within the projects that the EYF supports, financial and budget management is understood as an integral part of what the grantee organisation should look after, from the moment when they develop their project idea until they finalise the project reporting and their report is accepted by the EYF.

This page introduces the parameters and rules for the grants of the European Youth Foundation.

For each grant application, the applicant NGO will have to fill in a budget, indicating the project costs per types of expenditure and the amounts foreseen, and an income sheet indicating the sources of funding. Before starting to fill them in, NGOs should be familiar with the instructions for financial management and reporting of the EYF. These rules are fundamental in building up a consistent budget.

VOLUNTEER TIME RECOGNITION VOLUNTEER TIME RECOGNITION

Volunteer time is a contribution/support/input people provide of their own free will to invest time and service for the benefit of a youth activity implemented by a non-profit-making youth- led organisation, and for which there is no monetary or in-kind payment (e.g. fees, salaries). The volunteer time recognition is a system used by the EYF to value this time as part of a project budget. Find out more at the specific page, including instructions for the calculation of VTR limit.

General rules for VTR

  • The same amount of VTR needs to be added in both expenditure and income. It is understood that the volunteers contribute to something that otherwise would be paid work (which constitutes an expense needed to do the work), but that contribution is “paid” in time, rather than funds (which needs to be reflected in income).
  • VTR can not exceed 10% of the total cost for the activity.
  • VTR can be included in all project grants: Pilot Activities, International Activities and Work Plans.
Non-eligible costs Non-eligible costs

For all project grants, the EYF is not allowed to cover certain costs, which may not be included in the budget, or will not be reimbursed as part of the grant, such as:

  • purchase of equipment, software, computers, printers, or any other electric device;
  • administrative costs not clearly and visibly linked to this project other than the exceptions under administrative costs for pilot activities;
  • scholarships of any kind (school, university, research, programmes or exchanges, vocational training);
  • commercial operations;
  • construction, purchase or equipment of buildings;
  • sports activities;
  • tourism;
  • participation in international exchanges;
  • projects in agriculture and water sanitation;
  • additional funding to cover costs for disadvantaged participants to take part in projects and/or activities funded by other donors;
  • micro-credit;
  • financial support for collecting and sending pedagogical material and/or food and/or clothes and/or books anywhere in the world.

Furthermore, for international activities and work plans, the EYF will not cover:

  • salaries (people employed by the NGO); 
  • office rent, insurance, electricity, water and heating bills.