If you have a nonprofit organisation, you have the advantage of a noble cause on your side. Your causes are emotionally compelling so you will surely gather enough crowds to make a difference. However, it is easier said than done.
There are tons of people with the same noble cause. How can you ensure success? Here are some strategies that you can consider for your nonprofit fundraising:
Organising fundraising events
Aside from securing grant proposals, you can attempt other ways to raise money. You can start with fundraising events. Organising fundraising events is common these days. If you open a weekly newspaper, you will find local events organised by nonprofits.
Events are excellent because it engages donors and allows others to become involved at any level. The kinds of events often organised by nonprofits include runs and walks, online auctions, bus tours, dinners and many more.
Focus on earned income
In nonprofit organisations, earned income describes fees charged for the services offered or revenue from goods sold. If you have a physical space, having some amount of retail for fundraising is a good idea. However, you should be careful. It is crucial that you keep track of the percentage of your income and fundraising since there are many variables you need to consider.
Consider rolling membership
If it makes sense to you, rolling membership should be considered. Rolling membership describes membership renewal a year after the date of joining. This means that the income from the membership will come in almost every month. To succeed, you need to delegate someone to send out renewal notices all year long.
This sounds exhausting but you can utilise a simple database that can keep track of membership renewals. The advantage to this is you can time your membership appeal at specific moments of the year, which can significantly help your cash flow.
Try planned giving
Planned giving is also called gift planning or legacy giving. Planned giving refers to the process of making a charitable gift during a donor’s death that is part of a financial or estate plan. This encourages philanthropic individuals to give larger gifts and make a huge difference.
Pay attention to capital campaigns
Capital campaigns describe a campaign that can generate donations for a particular initiative like new facility to replace the dilapidated one or a new large-scale program. This activity is only for a finite time period. You stop the moment you collected the targeted sum.
Know your donors
More importantly, it is crucial that you know your donors. Having a good knowledge of your donors means understanding their contributing habits. This is the key to persuading them to donate. As soon as you know your donors, you need to educate them. By educating your donors, you build trust and you assure them that everything is on track.
Do not forget to stay in touch and let them know what their donations have accomplished. After all, all donors want to see what kind of impact they made because of their generous hearts. Keep in mind that an educated donor is a happy and satisfied donor.