10-Step Guide To Raise Money For Your Non-Profit
Organizing an institution, organization, or event is a big task at hand in itself. However, when you add the words 'non-profit' to it, this task becomes trickier. You have to raise enough money to make sure your event thrives, and there are two ways of doing this - Individual Fundraising or Company and Corporation Fundraising. Let's discuss how we can raise these funds.
Here’s a 10-step guide to raising money for your non-profit.
Find charitable sponsors
Sponsorship is a large industry and multiple companies every year look to invest in institutions for marketing purposes. Your organization or event will have to put up a reason for a company to sponsor you. You must explain to the company how they will benefit by helping you. To build an even better sponsor-sponsee relationship, understand the audience your organization or event would want to cater to. Further, find a marketing strategy for your sponsor that would benefit both the sponsor and the sponsee.
Find a theme to raise money
A reason to go out and have fun is always welcome. Give people a reason to have fun while simultaneously learning about your event or organization. Endorsing your need to raise money will help attract people to donate to your cause. Many organizations raise money across the globe by organizing charity runs or marathons where people may give charitable donations to the cause, or the organization gains money through the runners’ registration.
Set a budget
Estimating your needs and expenditures is imperative to organize funds for every cause. Setting a target budget will also help you set out goals and establish a plan that would help you target suitable sponsors or donors. Make sure you set a realistic budget with all expenses kept in mind, along with some extra additions that would help if any unforeseen circumstances were to arise. Being prepared is always the way to go!
Select a platform to market your cause
If you are marketing your cause physically, choose a budget-friendly and efficient method to go about this form of marketing. If you plan to advertise yourself virtually, choose a platform where there is a maximum probability of reaching out to your target audience. Explore your marketing platforms early in the process so you have enough time to understand and explore what works the best for your cause.
Explain the use of the funds
All companies, investors, and sponsors like to know where their money is going. So make sure you provide maximum clarity from day one in explaining where you plan to use these funds and how. Transparency is always appreciated, especially when someone is shelling out money.
Every event or organization needs human resources to support the cause. First, find people who are as dedicated to the cause you are working for as you are. Then, train them to work in the most efficient ways. The volunteers will work for the cause and help you increase your reach to raise funds. Beyond providing logistical help, volunteers will need to set up and execute plans to implement methods to raise funds.
Attend webinars and seminars hosted by and designated to people involved in fundraising for non-profits. Speaking to people from your industry is always an exceptional learning experience. In addition, seeking advice and expertise will help you improve your strategies and enhance your network, which will benefit your cause.
Learn how to ask for funds
To ask for funds means you have to sell your product, and there is always a method. Do extensive research in this direction and understand the technique of seeking funds to hit the right chord with donors. We do not want to antagonize anyone who provides us with funds. So study the method you will be using to seek these funds and follow it to gain the utmost trust from your donors and sponsors.
Maintain the sponsor-sponsee relationship
You will not just need your donors or sponsors for a one-time investment. You will have multiple needs that will come up through the tenure of your program. So, you must keep the sponsor engaged and well updated with your schedule and plans. Frequent contact with your donors and sponsors will allow you to rely on them in time of need.
Show results and growth
Your sponsors and donors will be more than willing to help your organization if they see results. Good results and growth of your organization are proof that their money is going in the right direction. This gives your sponsors a strong reason to continue their equation with you and always keeps them happy.
Raising money for a non-profit might seem tricky and challenging, but these ten steps will help make the process a smooth one. We hope these steps help you pave your pathway to success.