Fundraising can be one of the most challenging things to do. There are so many charities and causes that deserve to have funding. The one thing that almost all fundraising has in common is that it will cost time or money.
Nonprofit fundraising in australia, or wherever in the world you are, is hard work, and it is one of the most incredible ways to raise awareness and create more loyal supporters. Since fundraising and grants can be the sole income for many charities, it’s something you need to get right.
Fundraising is a fine art, and to get the balance right and inspire change and plenty of open wallets.
A fundraising plan is one of the most important ways to create a sustainable organization.
Photo by Katt Yukawa on Unsplash
What is nonprofit sustainability?
When it comes to charities and nonprofits, we mean how the nonprofit manages to sustain what it does over the long term when we talk about sustainability. This means fulfilling its mission, understanding the cost of delivering programs and services, raising funds, and all other actions.
The nonprofit needs to continually raise enough funds to cover all business processes.
It is easy for nonprofit businesses to slide into what is known as the nonprofit starvation cycle. This is where they do not have enough funds to cover their processes and always seem to be catching up.
What is nonprofit fundraising?
Nonprofits and charities use social media, websites, traditional door-to-door, and more to raise money after they obtain their Charitable State Registrations.
Charities and nonprofits cover many niches, including education, artistic, scientific, nature, religion, philanthropy, and more. It’s not just charities that can be classed as nonprofit; some education institutions and religious institutions don’t keep any profit. Instead, they use all of the funds raised to maintain the organization.
Many of the resources of these companies will be concentrated on fundraising.
Many laws regulate all the fundraising done by nonprofits, and these laws hold the organization accountable for their donors and that the money is given to the appropriate parties.
Nonprofits are required to follow ethical fundraising practices. While it is not usually needed for the charity or nonprofit to have a specific structure, they should stick to certain operational rules.
If you are considering or currently have a nonprofit, you must seek the correct legal advice and information.
Nonprofit Fundraising Ideas
No matter how big or small your nonprofit organization is, some fundraising methods are tried and tested. Although not every fundraising method will work for every company, they can be changed and adapted to make them suit.
Using a combination of the different methods can elevate the attempts massively, referred to as multi-channel fundraising.
Diversification of your fundraising methods means that you have the opportunity to have donors motivated by different things. Some like to have the props for donating, like appearing in print materials; others like to use donations for help with taxes.
This also means that some donors prefer a regular contribution, others choose lump sums, while others want to donate a set amount by SMS.
Cater for as many different types of donors as possible.
Individual
Personal fundraising, aka individual fundraising, means you can donate to your network, including friends and family. There are some great ways to raise cash this way.
Individual fundraising techniques are used for emergencies, life events, medical expenses, and education.
Online Donations
Online donations are one of the most convenient ways to raise money. One of the best things about fundraising online is that you have access to tools to help you. Tools and programs like Google Ad Grant Management - driving traffic to all of the online donation points.
Mobile Donations
SMS donations are some of the quickest ways to see a bump in donations. SMS donations are quick and easy. Technology has progressed since the first time that SMS donations were used, and now you can use an app.
Many mobile apps can handle mobile donations (while adding a charge on top).
In 2018, a massive 50% of donations came by way of a text link. A text link is sent out and helps donors to donate text messages.
Social Media
Social media is free and easy to use. You can talk directly with your would-be donors quickly. Facebook has made it possible to raise money through their friends and family in the last few years. Nonprofits also have the opportunity to make sure of the many business tools.
They are taking followers and likers through to a donation point.
Your bio on all platforms is the perfect space to share the link to your website - doubling down on your visibility efforts.
Corporate and Company
Outside of individual donors, there are plenty of funds to be raised from companies and corporations. Often some of the most funds can be raised through linking with companies and corporations that align with your social goals.
Why are both company and corporate fundraising tactics important?
Many businesses are looking to partner with charities and nonprofits as it looks good for their public relations and can be part of their corporate social responsibility and reputation. Not to mention that there are tax bonuses for companies that donate to charities.
There are many ways to work with corporations and companies regarding your fundraising work.
Volunteering
One of the biggest bonuses for companies when it comes to volunteering is that it looks great. Rather than just taking cash donations, many nonprofits can benefit from the time that employees of their partner company spend volunteering.
Both the nonprofit and the company can benefit from this media since the corporation or company will want to capitalize on the possible coverage.
Grants
Corporate grants can be given from corporations to nonprofits. There can be some competition; for example, some corporations open their grants and go through applications to choose the right one for them.
Matching gifts
This is a fast and effective way to secure double the amount of donations. There are tools like Double Donation that make this process easier. Matching gift donations work by the company matching the total amount of their employee donations.
Events
When you have secured a partner company or corporation, having events for employees can help with raising awareness and getting more people involved. Charging for tickets on the night, accepting donations throughout the evening, networking with stakeholders, and securing long-term support are all possible.
You can tailor the event to meet the interests and needs of your company partner - and open up the possibility to friends and family too.
It is always a good idea to have an auction, as it gives you even more opportunities to network and secure a more comprehensive corporate and company network.
Co-ventures
Co-ventures can be incredible for fundraising often; these can be seen when grocery stores, restaurants, and other companies give a percentage of their sales to the nonprofit.
A co-venture usually requires the fundraising team and the marketing team, or the social responsibility team, to work together to create a campaign that will resonate with the audience and work for both the nonprofit and the corporate or company partner.
In-Kind
In-kind donations can be one of the most powerful and often be overlooked when considering fundraising options. In-kind contributions are non-monetary. Typically they can be food, shelter, services, or equipment.
In-kind donations can be helpful as they can alleviate the immediate need for funding and make a significant impact in the case of emergency requirements. Most often, in-kind donations come from long-term partners or events like auctions.
One of the most important things you need to have when it comes to fundraising is creating a strategy.
What do you need for a fundraising strategy?
Your strategy will guide you, and you will work towards sustainability. There are only four steps to creating a strategy that works for you:
Goals and Missions
The fundraising you do should all have a goal. What is the goal for the current campaign? Where will the funds be used? What difference can it make, and the most important is - how much you need to raise.
Donors will ask these questions, and you should be ready to answer them.
Who
Even if you have an entire company working towards a single goal, each campaign should have a single person or a smaller team as the leaders. Smaller groups can be more focused on the smaller goals. Training is a good idea for all people who will run fundraising.
Possibilities
Think about the targets you have for your fundraising - and how you will communicate with them. The list you create will list possible sponsors, donors, partners, board members, and more.
You will see a logical communication profile for each as you create the list. Some will prefer emails; others will need pitches, and others will work via social media.
Campaign planning
Your campaign is the actionable step, and you’ll use the methods above and others to define how you will raise funds. And further to this, you’ll need to work on your marketing to match.
Thanks
No matter how big or little of a donation you get, you should make sure that you thank each donor for their time and tell them how they can further support you through shares or increasing their donation.
One of the critical things that any nonprofit or charity can do is use technology and innovation to make donations easier: Creating A Charity App.
