Hosting a fundraising event is a great way for nonprofits to raise the needed funds for the organization’s projects. Although fun, fundraisers also require a lot of hard work in order to be successful and can create risks for your organization if they are planned hastily or improperly. Be sure to obtain nonprofit insurance before taking on events’ inherent risks, and be detailed in your planning. Thorough planning, collaboration between staff members, and financial support are needed to be effective.
1. Set Clear Budgets & Goals
Set a realistic, measurable, and specific goal. How much money are you looking to raise at this event? If you’re aiming high, execute an event that accommodates many donors or demands a higher ticket price. Secure nonprofit insurance so you’re prepared for any type of hit.
You will also need to develop a budget. Like the goal, the budget will need to correspond with the admission fee. If you’re holding a lavish event to meet high goals, you must charge more for tickets than you would for a simple event. Your budget will help ensure that you are able to follow through with each aspect of your event and to determine if recruiting corporate sponsors for funding is needed.
2. Choose the Type of Event
Who is your audience? What types of events will appeal most to target donors?
If your donors are health-conscious, they may respond well to exercise- or action-oriented events like walkathons. If most of your supporters have families, then you might consider a family-oriented event, such as a carnival.
In addition to your audience’s interests, consider your budget and resources. If the budget is very limited or you don’t have many volunteers or staff members to work the event, you may want to hold a more affordable and easy-to-manage event, like a game night.
3. Collect Contact Information & Donations
What are the logistics of raising funds, collecting donations, and retrieving contact information of new donors? There are a variety of payment and donation processing platforms available for collecting funds. The best platform for you will depend on donation options. Are you planning to sell tickets to the event? Will participants be collecting their own donations for your nonprofit organization? No matter how donations are handled, there’s an online platform to secure and organize them. Your organization should be safeguarded with nonprofit insurance.
Determine how you’ll collect contact information from new donors or supporters who attend your event. A CRM system is very useful to collect and manage donors’ contact information. This can help you keep donors engaged in the cause and spark further support.
Strong promotion is needed for a successful event. First, reach out to your current supporters and donors, as they’re already interested and invested in your organization and can help get the word out about the event.
Also, implement digital marketing campaigns to broaden your reach and amplify your event. Digital marketing tactics like social media and email campaigns are a great way to reach potential supporters.
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