Club Grants & Loans
Important Information about Grants and Loans
VMAA Grant Scheme
The VMAA Grant Assistance Scheme is indeed a valuable resource for clubs in need of financial support. Clubs can apply for a grant at any time of the year when they have a special need. The flexibility offered can be crucial for addressing unexpected expenses or funding important projects.
The MAAA Grant Scheme, which opens for submissions early in each new year, also plays a significant role. By submitting all MAAA grant applications through the VMAA, it ensures that the applications are well-prepared and have a higher chance of success. Additionally, the VMAA’s support through grants or loans can further improve the likelihood of a positive outcome with the MAAA grant.
The guidance is based on previous experience and becomes invaluable for clubs navigating these processes. It’s clear that each VMAA Grant application is carefully assessed and voted on by the committee members, ensuring a fair and thorough evaluation.
VMAA grants
The VMAA is committed to supporting clubs through both grants and loans. The updated application form being available in both PDF and Word formats ensures accessibility for everyone.
For clubs looking to apply for financial assistance, reaching out to the Secretary is the first step. Depending on the nature and complexity of the application, a committee member may be assigned to you to assist with the application. This personalized support can be crucial, especially if there are specific details or potential conflicts of interest that need to be addressed. Planning ahead and contacting the VMAA early ensures a smooth application process or clear up elements of the application.
The committee’s role in assisting with drafting a commercially sound application is invaluable. This guidance can significantly enhance the chances of a successful outcome.
Is there a particular project or need that your club is currently considering for a grant or loan application? If so, the VMAA is happy to help brainstorm some ideas or provide additional guidance!
Some of the factors that make a successful application are:
- Importance of the Project: Assess how crucial the project is for the club’s operations and its role in promoting the Sport of aeromodelling. Projects that enhance member engagement, safety, or visibility of the sport are often prioritized.
- Club Contribution: Evaluate the club’s financial commitment, including cash, supplies, and volunteer labour. A higher contribution from the club can demonstrate commitment and increase the chances of approval.
- Fundraising Efforts: Consider how active the club is in raising funds independently. Clubs that show initiative in fundraising may be viewed more favourably.
- Promotion of the Sport: Look at the club’s efforts to promote aeromodelling, such as hosting competitions, general events, try fly days, workshops, or community outreach programs. Active promotion can be a strong indicator of the club’s dedication to the sport.
- Previous Assistance Requests: Review the history of the club’s requests for financial assistance. Frequent requests might require a closer look at the club’s financial management and sustainability.
- Financial Position: Assess the club’s current financial health. A well-managed budget and clear financial records can support the application.
- Governance: Ensure that the club’s governance is sound, with transparent decision-making processes and compliance with relevant regulations.
- Quality of the application: This includes but not limited to, details of the project, management of the project, value for money, clear itemised quotes, members time and efforts, etc.
- Value for Money: Last but not least, the committee needs to able to justify signing off on a grant application. It is had to do this when the application is for say $5000 and the club contributes $400 for a total project value of $5400. If the VMAA is contributing $5000 to a $15,000 then this is an easier decision. The projects value can include labour in kind, discounts that have been negotiated, equipment that is donated, club cash contribution, other cash/grants etc.
There may be other considerations as every application is different, and this list is to give the applicant a general understanding. Reach out to us for further assistance and clarification.
VMAA loans
This is a shorter topic as a loan requires less consideration, most of the time, as it is sitting on the VMAA balance sheet and paid back over an agreed time period.
Many of the points above apply here, however the key point to remember, the committee wants to support the clubs, and in doing so, the application must be sound and commercially justifiable, as we are using members funds to promote the sport.
MAAA club assistance scheme
Rule Number 1: Talk to the committee early
Rule Number 2: Get your application in early, like 8 weeks early
Rule Number 3: Refer to Rule number one.
Timing truly is everything when it comes to grant and loan applications. Here’s a quick recap of why each rule is so important:
- Talk to the Committee Early: Engaging with the VMAA early allows you to get valuable guidance and support right from the start. This can help you navigate the application process more effectively and address any potential issues upfront.
- Submit Your Application Early: Submitting your application at least 8 weeks in advance gives the committee ample time to review and provide feedback. It also allows for any necessary adjustments or additional documentation to be gathered.
- The VMAA is here to help: This emphasizes the importance of early communication. The VMAA’s experience with grants and loans can be a significant asset in fine-tuning your application and ensuring it meets all requirements.
- VMAA contribution: The club may ask the VMAA to contribute, or the Committee may see a benefit in contributing to the project. In this case, a separate VMAA application is required, and another reason to start the process early.
Again, Timing is crucial because it allows the VMAA to assist you in presenting your application in the best possible light. This might include helping with the application itself or securing additional VMAA financial support, which requires its own separate application process.
More about the MAAA club assistance scheme can be found here.
Wow, that was a bit long winded.
Again, feel free to reach out to the committee for assistance.
This document will be updated form time to time to reflect any questions or feedback we get.
Updated as of 7.10.2024 9.32am