Full cost recovery (FCR)
Where you might hear it: From anyone who works in the third sector
What does it mean: Full cost recovery is about making sure voluntary and community organisations can provide sustainable services to the public. By accounting for all overheads and expenses, in addition to the running costs of any project, service providers are able to recoup all of their outgoings from funders. Full Cost Recovery means that organisations receive the full support they need, and funders see exactly where their money is being spent.
How to use it: Make sure any funding bid you're involved with has adopted the principles of FCR. Research the various online guides to implementing FCR for top tips and resources.
Find out more at: www.financehub.org.uk
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