One of the biggest challenges of charities and philanthropic groups is balancing the use of their money. Charitable groups are rewarded with better reviews when their overhead costs remain as low as possible in order to have a better public image. There will be many instances in which you’ll need to raise some money to put directly into your company to help with internal processes, hiring, and training. But, how can you possibly raise tens of thousands of dollars in a short amount of time?
There are actually quite a few ways to raise this type of money, specifically geared towards non-profits and other charitable groups. Here, we’ll review a few of these tactics and explain how they work.
Also known as a “challenge campaign,” this tactic takes the pressure off of individual fundraising events, and focuses the efforts on going for the biggest impact possible. By making this fundraising blitz an annual event, you can spend your entire year focusing on marketing for this specific event, essentially advertising for fundraising in disguise. There are several ways to go about throwing this type of an event. You can make it a strictly online donation driven event, host a party and open it up to the community to help you watch the numbers roll in, or even make it associated with an activity such as a 5k. The positive press associated with this event will not only act as a reminder for the community to participate, but it will also give your business a positive reputation that people will associate with all year long, driving them to donate more frequently.
Apply For A Grant
Every year, there are thousands of grants awarded for almost any cause you can think of. Having the support of a large-sum grant for your non-profit can make a world of difference for the image of your company and in how far your company can reach. It may seem like a scary process, as grant-writing is pretty specific and grants can be difficult to come by in certain areas of the country. But grants can open up doors not only with the amount of money you receive, but with the connections you make during the grant-awarding process. Sometimes, grants are given in forms other than money; they can be awarded in the way of mentorship as well. There is virtually nothing to lose and everything to gain by applying for a grant. And once you find which type of grant you’d like to apply for, the only thing you’ll need to do is clearly explain your goals and why your group deserves and needs the support.
Another way to earn extra money while working towards your goals as a charitable organization is to offer an annual membership fee for people to join your cause. A membership initiative, paired with annual events, creates a great strategy for fundraising. Reach out to get new members to join your cause during a lull in your fundraising season. Then, when the big events roll around, your donors will be less inclined to focus on their membership fee and will be excited to give their time or money. By setting up a rolling membership renewal program, you’re also guaranteed annual membership income, which can help to keep funds afloat after the peak giving seasons have come and gone.
Have you tried any of the above tactics while fundraising for your cause? Let me know what worked and what didn’t by connecting with me on Twitter @TalyRussell. Stay tuned to my blog for more ideas on fundraising and charitable giving.