Many programs take place over a number of years (such as the curatorial internship program, which I used as an example in Chapter 14). In cases such as this, most of the grants you’ll apply for will be for the entire time period of the project. Many foundations make such grants, but they usually make the grant payable as “$10,000 a year for two years” rather than giving you $20,000 up front. This way, they delay payment until they’ve received a report from you letting them know you’re continuing the program. It’s not necessary for each year of a multiyear budget to balance, but by the end of the program, everything should come out neatly to a $0 balance.

The budget for the two-year curatorial intern program appears in Chapter 21 (where I give it as an example in reporting on grants). Many of the expenses I’ve simply allocated equally to each of the two years. Other expenses obviously belong to one year or the other. For example, the exhibition the interns will present takes place only in the second year, and the outreach efforts to find qualified interns takes place only in the first year.