You have been trying to raise money for your nonprofit organization but you are hitting a wall. You are not sure how to take your organization forward and what you should do to attract and engage your donors.
We have lined up 7 steps and ideas to master fundraising and reach your goals:
1- Attract Donors
You have to constantly engage with donors and have your donors feel like their part of your organization and somewhat of your family. They have to get emotionally attached to your cause and know that their donation no matter how small will have an impact on the mission they believe in. Most nonprofits attract donors through social media, email marketing, newsletter and special events or fundraisers. All of these are what you should be doing at all times to maintain your relationship with donors and keep getting donations or ultimately higher donations. Remember as a 501(c)3 your donors are tax deductible, which automatically attracts donors, so make it into your advantage.
2- Major Giving
What is major giving? Simply a large donation made by an individual. Although, to get gifts in the hundred of thousands or more you simply cannot find such potential donors on social media but you need to cultivate a relationship on a personal level with them and turn most of your fundraising efforts around these donors. To start, you need to build a prospect donor list for major giving. To build this list you need to look at a donor capacity to give, history with your organization and involvement in similar missions as yours. Then, you need to reach out to them individually by phone or email and request a one-on-one meeting and support your case. There is no major giving donors who are going to donate if they do not believe in the team or executive power behind an organization.
If you want to learn more on how to attract major donors or want to get in touch with them contact us today!
A great way to reach out to donors is to launch an online or offline awareness campaign. By launching a campaign you will get support for a particular project or mission and reach out directly to individual donors. Each campaign already has a set donation goal and a clear marketing and communication strategy planned out and requires help from volunteers.
To find out how to launch a successful campaign read our post on campaign strategy.
4- Planned Giving
Planned giving can mean a large variety of gifts from cash, equity, real estate and others. Planned giving may require a developed and longterm relationship with donors. You need to build trust with your donors to acquire gifts that are equivalent to real estate. You can also offer seminars to inform your donors on how such gifts work and can be donated. You need to be transparent on your nonprofit financial situation and mission, so your donors will understand that their gift is meaningful. Other type of planned giving may include assets or investments that donors give to nonprofits in the form of income.
There is quite a large variety of events or fundraisers you can host to introduce your organization to the public and raise money. Although, whether it is garage sales or gala events it is difficult to make a return on your investment mostly because of the fees involved in building a successful event. Therefore, when hosting an event you should think more in terms of building a relationship and acquiring connections with prospect donors. You have to know your goal and what could be an asset for your organization other than money such as volunteers. If you only want to launch an event to gather donations then you need to have sponsors, so you keep your expenses to a minimum and make a profit.
Grants are one of the most popular source of funding for nonprofits. Grants are donated by foundations looking for organizations with a particular mission and size. Applying for grants is like looking for an investor as a business. It is time consuming and you may need to apply to a few dozens of them before you find one but they are definitely worth it and often involve a large amount of money. Also, grants are usually not renewed and need to well utilize by the organization.
7- Corporate Gifts
Businesses can offer business sponsorships and corporate gifts to organizations often via their foundations or through their available nonprofit budget yearly. Businesses seek for nonprofits that can improve their image and open them to a new market. So to attract a business you need to know how to sale your organization and how to sale it well. Businesses can also help you by sponsoring an event. The most important part of finding the right business for your organization is finding the right person to get in touch with and how to get in touch with them, so do you research and examine all of the requirements the business has well.
Thank you for reading our article on 7 amazing ways to raise money for nonprofits. You may now have a good idea on how to get started but if you are looking for help with your fundraising process we specialize in nonprofit fundraising and will find the perfect solution for your organization, contact us today.