Nonprofit organizations rely on fundraising events to help meet the needs of the communities they serve. A successful fundraising event requires extensive planning, budgeting, volunteers and coordination. It's impossible to foresee every problem that may occur; however, the following tips may help you avoid some common fundraising mistakes. As the old adage goes, "Hope for the best, plan for the worst."
- Form a Fundraising Committee
First things first. Form a fundraising committee comprised of dedicated volunteers who are willing to take charge of certain tasks. Never tackle the challenge of putting together a fundraising event alone or with minimal volunteers.
- Allow Adequate Planning Time
It is best to allow at least six months for planning, budgeting, volunteers, and coordination. Avoid the crisis fundraiser mentality. Holding a fundraising event without adequate planning can result in lost revenue and, in some cases, actually cost you money.
- Research Conflicting Events
The goal of a fundraising event is NOT to simply attract dedicated supporters of your cause, but to attract new donors and volunteers. It is imperative to thoroughly research possible event conflicts. i.e., other fundraising events, city or community events, concerts and so-forth. Search Community Calendars and the websites of similar organizations to help identify potential conflicts.
- Prepare a Budget
Create and follow a strict budget. Costs can get out of control easily and negatively impact the potential profits of your event.
- Donations
Donated items are key components for the success of a fundraising event. Part of the planning process should include a strategy for requesting In-Kind donations; the danger lies in DEPENDING upon them. Necessary items should be included in the budget. If these items are actually donated, the profit margin increases.
- Back-Up Plan
A back-up plan is necessary in the event of inclement weather or unforeseen emergencies. Rescheduling can cost attendees and revenue.
- Abide by Local Laws and Ordinance
Verify that the event is covered under an existing insurance policy. If not, contact a reputable insurance representative about adding an umbrella policy. Obtain ALL required permits. Be aware of ordinances that have the potential to interrupt or shut down the event. (Example: Noise, Traffic or Parking Ordinances)
- Marketing Strategy
Yes, social media platforms are great tools; however, this resource should never be relied upon as the ONLY source of marketing. Awareness is a must! Networking is necessary to help increase awareness. If possible, include advertising costs in the budget. Contact local radio/tv stations about possible coverage.
- Professional Fee/Contract
Read contracts CAREFULLY regarding payment, equipment to be supplied, fees for clean-up, speakers, musicians, and/or entertainment.
- Equipment Issues
If possible, have extra equipment and/or qualified staff that can correct an issue. Problems with sound systems, refrigeration units, air-conditioning/heat and outdoor electric outlets can RUIN a fundraising event.
- Security
Providing security is vital for the protection of attendees, volunteers and facilities. Be sure to include the cost of hiring security in your budget.
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