Feeds:
Posts
Comments

Fundraising campaigns are one of the most significant sources of funding for most nonprofits. Most fundraising events are not without cost, however.

Preparing a budget for special fundraising events helps nonprofits avoid overspending, especially if their event does not raise an amount equal to or greater than its fundraising goal.

The Importance of Setting a Large Enough Fundraising Goal

When making plans for your nonprofit’s next fundraiser, it’s important to set an appropriate amount as your fundraising goal. This goal should be realistic; it should be an amount that your nonprofit can reasonably expect to raise during the event.

Your fundraising goal should also be for an amount that is large enough to cover all of the costs and expenses associated with the event. In addition to this amount, you will want to add a net sum that is left over after all of the costs are paid. This net sum should be large enough that it justifies the time and effort that is put into hosting the event.

The Importance of Creating a Detailed Budget Specifically for the Event

You should create a separate, completed budget that lists each expense that will arise as a result of hosting the event. This list should be thorough, and highly detailed to help you avoid under budgeting.

When creating your budget, look at the history of past, similar fundraising events held by your nonprofit. Look at the types of costs that were incurred, as well as the amounts that you have raised during these events. Can your nonprofit reasonably expect to spend a similar amount, or, have costs increased in one or more categories? Determining the answers to these questions can help you avoid underestimating the actual expenditure.

At the very least, your budget should include the cost to rent the venue for the event, as well as unique items related to the location. For example, will your nonprofit need to rent extra tables and seats or other items and equipment to hold the event at the designated location? Be certain to include realistic estimates for these items in your budget.

Catering, staffing, creating and sending invitations, security, transportation, VIP accommodations,  entertainment, ticketing, fundraising software, marketing materials, promotional and gift items/event swag are all typical expenses associated with special fundraising events, so be certain that you include these and any other costs in your budget.

Don’t Forget to Plan for the Unexpected and Include it in Your Budget

It’s also a good idea to include a built-in “cushion” in your budget to help your nonprofit be able to cover the cost of unforeseen events to help you make certain that your nonprofit has enough funds to cover the cost of the event.

Use Caution When Attempting to Cut Costs

Many nonprofits are still feeling the pinch from the global economic downturn of a few years ago, and remain short of funding, especially given the resulting cuts in Federal monies in the form of grants that many nonprofits relied upon. If your nonprofit is struggling financially, it can be tempting to cut corners to reduce spending. While reining in expenses is important, it’s equally important to avoid cutting quality.

For example, you don’t want to skimp and not spend enough on marketing, and word fails to get out about your event. You also want to make certain that you choose reliable vendors for the venue, catering, and so on. Just because one vendor offers a lower price, doesn’t mean that you can depend on them to deliver on time. Make certain that you still check references and look at past histories in addition to price when comparing services and creating your budget.

Accurately budgeting for your special event is an important part of ensuring your nonprofit’s financial stability. Don’t forget the traditional fundraising metrics such as net revenues and costs to raise when hosting your event, and preserve this information to help you more accurately forecast the budget for your nonprofit’s next special event.

donorsMany nonprofits place the focus of their fundraising efforts on broadening their base of support, and increasing the reach of their messaging in order to recruit new donors. Retaining your current donors, however, is just as important as attracting new ones.

Generally, it’s easier to convince an existing donor to donate again than it is to convince individuals that are unfamiliar with your organisation to donate to your cause. This is because your current donors are likely already acquainted with your nonprofit’s mission and the important work that your NFP does to help its community.

While existing donors are already aware of the good work that you do, that doesn’t mean that you no longer have to put forth any effort if you want to receive additional contributions. In fact, it can require a great deal of follow-up and interaction to retain an existing donor and encourage them to continue to donate on a regular basis.

Maintaining the relationship and encouraging donor engagement is critical, the following are a few tips to improve your relationship with your existing network of donors so that they are more likely to want to continue to support your cause.

Show Gratitude

One reason way some donors choose to not make repeat donations is that they do not feel as though their contributions are appreciated. On your organisation’s website, make certain that you are expressing a heartfelt thank you to all donors, regardless of the level of their donation. Ensure that your online donations send an automatic expression of thanks at the moment that the donation is made.

To encourage repeat donations, especially to contributors who make larger contributions, or re-occurring payments, use a more personal touch to show your thanks. A handwritten note sent by post, a telephone call, or even taking the time to thank the donor in person all require extra effort and show your donors that your organisation truly appreciates their support.

For regular donors, and large donations, you might even consider sending complimentary free tickets to your nonprofit’s next gala, ball, auction or other event to show your appreciation and gratitude. Offering donors, perks, awards and other forms of recognition goes a long way towards building a relationship with your donors and keeping them happy and engaged with your nonprofit.

Keep them Updated

Donors are more likely to continue to contribute to your nonprofit when you keep them updated and informed about your latest, news, events and projects on a regular basis. Ensure that your website has a page that is devoted to interest stories that show the impact of your non-profit’s work.

Use social media networks such as Twitter, Facebook and Instagram to keep donors updated as well as to offer recognition for their efforts by giving individuals donors a shout out when they participate and give during special drives and other fundraising events.

Make certain that you post updates on items of interest to your donors in all of your nonprofit’s publications, including newsletters, emails, podcasts, and videos. Donors normally contribute because they want to make a difference and they are more likely to contribute on a regular basis when they can “see” the progress that your nonprofit is making towards fulfilling its mission.

Be Transparent

Donors are more likely to give to nonprofits when they trust them and the individuals that are involved with the day to day operations of the organisation. Take steps to increase your NFP’s transparency. Publish financial updates that show the status of your nonprofit’s financials. Devote a specific page to financials on your nonprofit’s website and update it frequently. Include staff pages and short biographies for board members, administrators and other employees or volunteers so that donors can learn about the backgrounds and personalities of those who are integrally involved in your organisation.

Filling the post of volunteer treasurer can be a difficult task for many boards. While volunteer treasurers are responsible for performing a number of significant tasks and duties, there are a number of myths about being a treasurer of a nonprofit organisation that can hold individuals back from volunteering. The following are a few of the benefits that can arise from fulfilling the role of volunteer treasurer.

Improve Self-Esteem and Sense of Self

Many volunteers report that they find that they effort and work that they do to support their cause is very rewarding. Volunteering gives folks that participate a sense that the work that they do is meaningful, and that the actions that they are taking are helping to bring about positive change and transforming their communities into a better place.

This sense of working with others to serve a greater purpose helps improve the morale and sense of well-being one has as a volunteer.

Networking

Because their service often involves working with both other volunteers and service recipients, volunteering gives others the opportunity to meet new people, and learn new things about existing connections. Volunteering connects individuals with others who often share their values, and this increases friendship and a spirit of camaraderie and belonging. Greater connectedness with others increases empathy and happiness, which can improve wellness and well-being.

Volunteering can also boost one’s employment opportunities, as it makes it easier for volunteers to meet others in diverse fields and backgrounds. This increases prospects for the volunteer and can make it easier to find new positions in one’s field, or change careers entirely.

Learn New Skills and Use Existing Skills in a Different Way

Many accounting software packages have simplified common treasurer tasks, such as creating the budget and other reports and documents. It is no longer absolutely necessary to have prior accounting or bookkeeping experience to be a successful volunteer treasurer. However, volunteers with prior accounting, finance, insurance or other similar experience benefit from using their existing skills in a new way that offers them a different perspective on accounting processes and procedures. Others without this experience will appreciate the chance to learn new skills that are frequently used by volunteer treasurers.

Learning new skills not only help volunteers to grow as individuals, but, it provides them with an opportunity to update their resume and possibly increase their chances of success should they decide to enter a new field or search for a new position.

Your email list is one of the best resources you have. It consists of people who may have volunteered, are considering volunteering or are interested in your charity. That is why it is important to make the most of this method to boost the number of volunteers you have assisting your organisation.

Keep it short and to the point

While you make think a lengthy email is better, try to communicate all the information you have in one brief request. In today’s age, email holders are often overwhelmed with the number of emails that appear in their inbox. Keep it simple and to the point.

Emphasise the good they can do

Don’t just tell them what they can do, let them know how much they will be helping others by giving up their time. People volunteer to make a difference in the community, so demonstrate that in your email as much as possible.

Showcase the benefits

Volunteering can also teach individuals new skills which will often look good on their resume. Point these skills out to the reader so they understand that by giving up their time, they will also gain skills which can they can use to further their full-time positions or other volunteering positions in the future.

Personalise the email

Add the recipient’s name to the email so that there is a higher opportunity of them even reading it in the first place. It will increase your chances of being noticed and getting your message out there to your audience. Personalisation can increase the average open rate of non-profit emails to increase above the standard 25% to closer to 30%.

Add images to brighten their inbox

If your email text is all words, then your readers will likely skim over it and miss the important points. Add some interesting pictures so they can see at a glance what your charity represents and how they can help you individually. It will keep their attention for slightly longer and give you a fighting chance to gain extra volunteers.

Convey a sense of immediacy

Let your prospective volunteers know that it is important that they respond as quickly as possible. You don’t want to hear from prospects two months after your email goes out. Let them know that interest will need to be provided as soon as possible so you can move on to the next steps of the volunteer recruitment process.

These are all helpful tips to ensure that your email has more chance of being read, let alone acted upon. One bonus tip which you will find especially useful is to keep it real. Show your charity’s personality and aim through your email without trying to be something that you are not. Authenticity is extremely important in maintaining quality connections with your readers, your volunteers and the general public.

Being a volunteer treasurer can be a huge responsibility, and during your most busy periods, you may find yourself struggling with the workload. Being able to manage your time efficiently becomes more important than ever, especially when you have finance issues and reports looming.

Here are some tips and tricks we garnered from other volunteer treasurers.

Skip the occasional meeting

While some meetings are important for you to attend, some meetings can be dealt with by a treasurer representative. Send someone on your behalf so you can catch up with your workload. They can then report back with anything that needs actioning.

Work from home

If you face a long commute or are juggling the hours between work and home, perhaps there are tasks which can be carried out at home. If you can access your finances on the cloud, then you may find that a lot of your workload can be handled directly from your home office.

Schedule your day

Without a set schedule, you have more chance of your time getting away from you. Plan to do specific tasks at set times. Check all emails first thing in the morning and then don’t check again until later in the day.

Work an early morning shift to get stuff done

If you can, plan for early morning periods where you can work uninterrupted. You may be surprised at just how much work you can get done at 7 am on a Saturday morning. Try not to make a habit of it, of course, but a few hours of working alone can do wonders for your overall schedule.

Rely on help from others

In truth, you cannot do it all. That is where colleagues and volunteers can come in handy. Seek help from quality staff who are as dedicated to the task as you are and who can help clear some tasks from your inbox. Delegate every opportunity you get.

Say no if necessary

It is important that you say no to some of the many requests that land on your desk. Just like you don’t have to attend every meeting, you also don’t have to go to every luncheon or do every bit of research that is asked of you. Prioritise your personal tasks, so you don’t stretch yourself too thinly.

Set time limits for volunteers

Volunteers may have issues and wish to discuss their problems with you. Let them know at the beginning of the meeting that you can only spare 5 or 10 minutes and keep to that time limit. Meetings can easily overrun and take up the majority of your office time.

Remember, it is your time. Being firm with your time limits and sticking to your main responsibilities is in your best interests. It will allow you to manage your workload more effectively and minimise the number of hours you work overtime.

We see it time and time again. Costly PR campaigns are created and fail to gain an emotional connection with their viewers.

If you want to increase your donor funds and gain more supporters, it is imperative you tell a story that connects with your readers. Simple facts, while interesting, are just not good enough for today’s modern donors.

It doesn’t matter which way you turn; you will be undoubtedly bombarded with marketing. Magazine ads, newspaper ads, billboards, bus station advertising, television advertising, radio advertising – all of these ads are fighting for your attention. Which campaigns are you likely to remember? The one that tells a story – the one that has something to say – the one that isn’t trying to sell you a product but rather an experience.

Using storytelling to represent your brand allows your audience to see behind the scenes. It takes them past the desks of the marketers and into the lives of the volunteers making a real difference in society. You can be more than just a name or a brand – you can show your human side to draw them in and elicit an emotion. This is a wonderful way to gain customer loyalty, especially in the long term. Your audience is after an authentic story that resonates with them – they want to be part of an organisation that really makes a difference.

As you define your brand through clever storytelling, you can also give it a personality. This personality should, of course, be representative of your overall mission and values. It is through your storytelling that you can develop and build on a relationship with your target audience. Those that feel a bond with your brand will not only give; they will in all likelihood be wonderful advocates for your NFP and share your information with friends and family.

Stories also stick in our memories the most. Remember all those fairy tales and nursery rhymes with moral messages at the end? Of course you do – stories stay with us, over and above everything else.

So go out there and tell your story. Creativity above everything else is a must in your next PR or marketing campaign. The power of words can be truly magical.

coins-currency-investment-insurance-128867

Accountability can mean different things to many people. While the dictionary meaning denotes responsibility, being accountable means understanding the need to be open and honest to the volunteers, the staff and the general public. So how can you ensure this occurs within your NFP?

Deal with things as they occur

There is no truer test of an organisation than when trouble occurs. And the strength comes from being able to face any issue head on without fear or compromise. This will demonstrate your total commitment to identifying and solving potential problems whatever they happen to be.

Maintain a positive public perception

As board members are the public persona of the company, they need to be held accountable at all times. They should be measured to the highest standard of conduct and reprimanded when they do not meet these levels. There are no favourites when it comes to poor conduct within the board of directors or other staff members.

Share NFP finances openly

What do you have to hide? Audited financial statements should be shared among the board members and made available online to comply with best practices. Investors will be particularly keen to see that the non-profit is open about the way they do business and follow action plans to a “T”.

Set clear guidelines and adhere to them

NFPs must stick to a set of clearly laid out guidelines to ensure that they are operating within the rules. If the rules are not specified in detail, then it is hard to determine whether the charity is working fully within its parameters. Clarify your guidelines for ease now to avoid problems in the future.

Donors, individuals and volunteers want to see the integrity of your NFP. When they notice the self-policing that goes on within the internal structure of your charity to meet the above issues, then they are more likely to trust you. Trust and commitment are paramount when it comes to forming relationships with potential donors and gaining their long-term attention.