| 5 tips for planning a fundraiser
By Sandra
Sims
Investing proper time and effort into the planning of a fundraiser will result in greater success. Keep these 5 tips in mind when planning a fundraiser:
1. Create a Fundraising Goal
Goal setting is one of the most important aspects of any endeavor. Budgetary needs of the organization generally guide the fundraising goals that are needed.
Your organization should have yearly financial requirements, and then a plan to reach that requirement with individual fundraisers and campaigns. Each individual campaign or event should have its own fundraising goal.
2. Establish a Proper Cost to Profit Ratio
The expenses related to the fundraising program should be kept below a certain percentage of your total (gross) fundraising receipts.
For most events or letter writing campaigns, your expenses should be 30% or less of your total receipts. The lower your cost the better, because more of your hard won donations will go toward your cause.
This also applies when selling merchandise or food (like candy or cookie dough). In general, look for a fundraising company that offers 50% or more commission. Again, the more commission you make the better.
3. Set a Budget
Creating a budget is essential in order to monitor the costs of the fundraiser and predict the profit.
Knowing the cost involved with a fundraising idea before you get started will help determine whether it’s a viable program. Create a list of all of the cost involved and the potential for sales and donations.
If after the research and budget you realize that your group with either not be able to cover start up costs, or it would not able to make enough profit on this particular project, find a new project that better works with your organization.
4. Donations and Corporate Sponsors
Donations to fund start up costs will help fundraising project be more successful. Businesses and individual sponsors can help underwrite the costs of an event and receive recognition and/or advertising in return.
Donations of supplies can also be a big help. For example, if you are having a dinner, solicit a local restaurant to donate all or a portion of the food. Prizes for raffles and auctions should be donated from area businesses or members, not purchased from funds.
5. Timelines
Start at the event or due date and work backward. Write down all of the major and minor details that need to be accomplished to make the fundraiser a success.
There are many details involved with any fundraising campaign. Set deadlines for when each of these details need to be accomplished. Organizing into committees and delegating responsibilities will further help make sure that the fundraiser runs smoothly.
Sandra
Sims has been fundraising for
various charities for over
10 years and is dedicated to
helping non profits raise more
for their causes. Visit her Step
By Step Fundraising website
to get your free copy of the
special report.
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