Business loans are not the only path to steady cash flow for non-profits. Among the many different ways to finance a non-profit company is to host a fundraising event. While this requires a lot of careful planning and hard work, it can definitely pay off financially.
1. Determine the Event Type
A successful fundraising activity can take many forms. Cocktail and formal dinners are popular and traditional events, but golf tournaments, 5k runs, auctions, and galas with famous entertainers are also in the realm of possibility. The potential list is endless. Your objective in picking an event should be to choose one that will appeal to the core group of supporters.
2. Fix a Budget
While just getting name recognition and publicity for your non-profit is a great benefit of holding a fundraising event, being able to actually bring in some money is also essential. Try to estimate for all anticipated costs and then divide that total by the number of guests you plan to host. Then you can figure out how much to charge per ticket to earn your fundraising target.
3. Cultivate a Group of Attendees
Do not get carried away in inviting anyone and everyone to your event. Think carefully about the type of person that would be most likely to donate to your business. Prepare a concise mission statement for your company and specific ways you plan to use the money collected at the fundraising occasion. Then invite as many of your guests personally as possible. Your ideal list will probably include those who have donated in the past as well as private companies with missions in line with yours.
4. Provide Multiple Opportunities to Give
At your event, be sure to allow guests to give money in many different ways, not just by the entry fee. This could include silent auctions and raffles, or even silly stunts like having the company bigwigs get pies in the face or soaked with water when donations reach a certain level.
While a fundraising event can take any shape or form, keeping the above ideas in mind will help make sure yours is a money-raising triumph.