Getting your nonprofit funded is no easy task. The best thing to keep in mind is to diversify. Tap into multiple funding sources, such as donations, grants, or online fundraising, to get the best results. Remember, diversifying your efforts does not mean diving into an abundance of different options. Instead, engage in a manageable amount of funding projects that make sense for your organization. Read on for information on the different types of funding available for nonprofits.
Individuals Who Believe in Your Organization
Believe it or not, most of the funding for a nonprofit comes from donations by individuals who feel a connection to your organization. Grants and funding from corporations have the ability to fall through, but having a solid base of individuals who give regularly may help to soften the blow if you lose a major donation. The best way to reach this group is by sending routine e-newsletters and spreading the word through social media.
Woo Major Donors
There is a group of individual donors who have the resources to make major donations to your organization. Soliciting donations from this group requires a slightly different approach, however. You will need to arrange a sit-down meeting with these individuals to inform them about your nonprofit as a whole, the organization’s goals and how you will benefit from their contribution. Other ways of building relationships with major donors are by organizing retreats, vacations, parties and other events.
Online Donation Buttons and Campaigns
The web is a major tool for soliciting donations — don’t skip it! Your website should include “Donate Now” buttons that are bold and obvious on every page. Your donation page should be interesting and should include pictures and different ways to contribute. You should also be creating donation graphics that can be posted to social media sites like Facebook and Twitter. Choose an impactful image with a call to action.
Get Down and Dirty With Grant Applications
Another way to procure funding for your nonprofit is by applying for grants from foundations and corporations. Grants are usually a much larger donation and allow nonprofits to expand certain departments or begin new projects. However, the application process can be a grueling one. You may want to hire a grant writer who has experience writing letters that will increase your chances of getting funded. Another option is to invest in a grant writing course for a current employee. Choose only grants for which you meet 100 percent of the qualifications. Check out The Foundation Center for more information on available grants.
When in Doubt, Throw a Party!
Hosting an event is a great way to rally support for your organization. Lots of nonprofits hold annual galas or dinners. More casual options include garage sales, car washes or bake sales. Getting the community involved in your organization is always beneficial to creating long-lasting relationships that hopefully come with donations. If your event requires people to purchase tickets, remember that the ticket sales will probably not be enough to cover even the cost of the event. If you’re looking to turn a profit on the event itself, try getting it sponsored. You could even try selling T-shirts or other merchandise.
To learn more about how our firm can serve your nonprofit organization, don’t hesitate to contact Kathy Corcoran at (302) 254-8240.
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