Back to Basics

It’s true that running a modern non-profit organization is no small feat. Being an executive at a non-profit that is growing and thriving is complex and requires some real business savvy. Long gone are the days that an organization can fully fund itself through bake sales and crab feeds. Any organization that wants to be viable and make a real impact will need a sound revenue raising strategy. Whether it is providing a service for your constituency, bringing in grant money, attracting corporate donations, or a combination of the three, every non-profit will need a complex fiscal strategy to cover its daily operating costs.

However, in these difficult economic times, organizations need to get a little creative when trying to fundraise for specific projects. If need to raise just a few thousand dollars, using traditional fundraising methods maybe a good strategy. Time tested methods such as drawings, auctions, and special events are both fun and profitable.

Special Events

Special events such as gala dinners, conferences, crab feeds, and cocktail parties can be profitable if you keep your overhead low. It’s impossible to run these events completely for free, but getting food or entertainment either donated or at cost. People are always looking for ways to have a good time, supporting a good cause is often just a bonus.

An organization can easily attract corporate sponsors for a conference by making exhibit space available. If your conference is going to attract a vendor’s core market demographic, that vendor will gladly pay for the opportunity to reach out to their customer base on a one-on-one basis.

Drawings and Auctions

Drawings and auctions are another great way to fundraise small amounts to supplement your primary revenue stream. Drawings held at events of 100 people or more can be rather profitable for an organization. One large prize amidst an array of prizes of more modest value can be enough to attract hundreds of ticket purchases.

A couple of tricks to keep in mind for drawings, keep the ticket prices low but offer to sell them in bundles. For example, sell 1 ticket for $1.00, 7 tickets for $5.00, and 15 tickets for $10.00. Well priced bundles make the tickets more attractive. More tickets means more chances to win after all! Additionally, hold the drawings throughout your event. Seeing other people win will prompt someone to buy tickets of their own. Ticket sales can remain steady until the end of your event if you keep the momentum going with hourly drawings.

Auctions are also a great way to raise a few thousand dollars in one night. Auctions are most effective when held during an event that was either free or had a nominal entrance fee. A person who did not have to spend much at the door will spend more freely at the auction table.

Soliciting prizes for your auction is easy. First, take stock of all the entertainment venues and popular stores in your area. Next, simply write a letter asking those establishments for donations. You would be pleasantly surprised at the response you get. Especially in tough economic times, retailers are willing to give donations of products and services for things like auctions because it is excellent publicity for them.

A couple of tips for putting together an auction:

(1) Set your sites on hotel stays, wine tours, tickets for sporting events, wine baskets, and museum tickets. These items are the most attractive and draw high dollar bids.

(2) Bundle donations together donations to make more valuable prize packages. Be creative. Put together tickets for attractions in the same area for theme weekends. The more a prize package looks like a vacation or a complimentary night on the town, the more attractive it is.

Good Luck!

Remember, every organization needs a sustainable fundraising strategy that consists of bringing in large dollar amounts through either grants or corporate donations. However, giving your revenue stream a little boost can be fun, relatively easy, and profitable. Whatever you do, just be creative!