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Six Basic Steps for Successful Fundraising

Over the past few years the need for fundraising has intensified as the availability of government grants has declined and individual or corporate giving has been reduced. However, there are many ways not-for-profit organizations can raise money. Some popular methods include telephone solicitations; direct mail campaigns; auctions; annual luncheons; galas; cocktail parties; and many more. The key to a successful event is to make donors feel that they have benefited from the event and that their funds are supporting a worthy cause.

The following are six basic steps you should consider when planning your next fundraising event:

Step One - Identify the need for the fundraiser.
People like to feel that they are involved in a cause. If you can clearly define the need that you are raising funds for, you are more likely to attract potential givers. The need should be specific and stated in realistic and measurable terms.

Step Two - Relate the need to the overall mission of the Organization
The mission statement of an Organization explains the Organization's reason for being. If the need that you have identified is part of the Organization's overall mission, potential donors will see that you have the skills to meet the need. This builds credibility and donors are more likely to give.

Step Three - Conduct a fundraising survey
Once you have identified the need, the next step is to choose the method by which you will raise funds. A fundraising survey is a useful tool. It can identify what type of appeal will be most successful, who is likely to give and who can afford to give. It can also help identify who will volunteer to carry out the fundraiser.

Step Four - Planning and Budgeting
The key to success is careful planning from the start. You must first determine how much money is needed. In addition, you need to budget the costs to carry out the fundraising program. Once you have that basic budget, you need to determine what probable levels of giving will be. This will help determine how many people you will need to reach. For instance, If you have a goal of $1,000,000 and you feel the average donation will be $1,000, you need to receive at least 1,000 donations.

Step Five - Ask for the money
Donors don't generally knock on doors looking for places to give. Often you just need to ask. The way in which you ask is also very important. Donors want to feel that their support is urgently needed and that their gifts will be put to good use. Publishing a list of donors in the annual report or newsletter recognizes these contributors. Also, always send thank you letters to donors acknowledging their gift.

Step Six - Evaluate the Results
Determine what worked well and the ways the fundraiser could be improved. This information can be used for planning next year's fundraiser.

For more information on fundraising and how to successfully plan an event, contact the Not-for-Profit Services Group of Alpern Rosenthal at 412-281-2501.

 

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