You manage a nonprofit organization. Perhaps it supports research for the cure of a disease, manages a local theater program or protects animal habitats in your state. No matter what mission you have, you need an ongoing stream of money to support your goals. Although it can be difficult to raise money, it is not impossible. The following list outlines the major ways to raise funds.
- Individual support and donations: Register your nonprofit with your state, and if you think you’ll be expanding, register with the states into which you plan to expand. Once covered, you need to find your local supporters’ preferred means of communication, whether it’s direct mail, email, social networks or events.
- Major donors: For those willing and able to give more substantially, relationships need to be fostered. Typically, requests for larger gifts are made during face-to-face meetings rather than with a direct mail piece. Some other ideas include planning special tours and trips and holding house parties or galas.
- Capital campaigns: These campaigns traditionally are held to garner funding for special projects such as a new building or an endowment fund.
- Legacy gifts: For those who want to continue to do good after they have passed on, planned giving is the key. This is usually done via an estate, such as through a will, trust or other beneficiary designation.
- Grants: A fundraising organization can seek corporate or government grants. These are usually large sums of money that allow a nonprofit to start a new project or hire a new staff person. Grants, however, are never a guaranteed renewal and often come with stringent oversight and reporting requirements.
- Online fundraising: Technology can be a fundraiser’s best asset and should be used to its full extent. Suggested uses for technology include the following:
- Embedding a donation process in your website.
- Prominently featuring a “Donate” button on every page of your website.
- Adding a “More Ways to Give” page to your site.
- Prioritizing year-end fundraising. Remember: 30 percent of all annual giving occurs in December.
If all of this sounds daunting to you, don’t let it stop you from growing interest in and making money for your cause. Instead, give us a call.
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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