You’ve done it! You are finally an official 501(c)(3) organization, a registered charity agent, and it’s time for the free money to start rolling in…
Right?
A common misconception among the founders of grassroots nonprofits is that once you’ve announced it to the world that you’re incorporated, hordes of people will begin to line up with gifts and checks and grants. Though this frequent misunderstanding leads to the failure of dozens of organizations a year, it is easily mediated with a simple fix: fundraising.
Fundraising is the golden ticket that will separate you and your organization from the 1.2 million other U.S. nonprofits also seeking grants and donations. Fundraising projects not only positively contribute to your organization financially, but can also serve to market your organization to the surrounding community. Dinners, expos, local car washes and bake sales are all great ways to bring in funding and to combine your organizations’ volunteers with the local area and people. They can attract new volunteers, donors, and associates, too!
So, now that you’re privy to one of the nonprofit world’s most lucrative secrets, what’s the next step? How do you break the seal of zero fundraising to suddenly out there, boots-on-the-ground fundraising? BryteBridge has some suggestions to help:
- Have A Strategy - Recognize that strategy is as important here as it is anywhere else! Planning is critical to successful nonprofit management. Read over our list below, get started making your plan today, and get to work!
- Engage the Board - Make sure your board knows that they’ve got to do a little more than sit back and vote on a few things once a year. Directors should provide fundraising help! Have your secretary bring in their signature brownies to the bake sale. Have your V.P. lug their children over on a Saturday to help with the car wash. It takes a team!
- Allocate Resources - Commit some resources to fundraising activities, potentially to hire a fundraising professional. It’s Business-101, but generally you have to spend money to make money.
- Mobilize Volunteers - Volunteers, volunteers, volunteers. High school students with a community service requirement. The grandmother that just retired and is itching to leave her home during the day. They’re out there, they’re willing, and you need the help.
- Do-it Yourself - Educate yourself! There are tons of books and websites with information on fundraising ideas and tools. Check them out. Learn something new. You don’t always need a professional – not in the very beginning, at least. Don’t sell yourself short!
- Don't put all your eggs into one basket - Diversify. Don’t count on funding your organization solely with one multi-million dollar grant. It’s probably not going to happen. You should be receiving revenue from a variety of sources- individual donors, corporate sponsors, grants, fundraising products, special events, maybe even program fees.
- Recordkeeping - Keep records. Any idea who it was that gave you that $20 donation last year? They probably don’t remember either.
- Ask- Seems obvious, but if you're afraid to ask for donations, then your fate is sealed. Ask and you shall (mostly) receive. Visit your local businesses, and do some reading on in-kind donations. Fundraising isn’t just about physical money. Other resources – gift cards, food, time – count too.
