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Steps To Successfully Budget A Fundraising Event

30 November 2017 No Comment

The only downside to a fundraising event is one you can eliminate with proper planning: the expense. With a little bit of time and legwork, so to speak, you can put everything in place in order to raise money for your organization or event. The following article will help bring the most important aspects into a single place for reference.

Establish The Purpose For The Fundraiser

Figuring out, specifically, the purpose of your fundraiser is paramount to the the resources you’ll have available. Let’s say you want to make use of the Internet with a kickstarter campaign; before you put it out there, it must be well-conceived. There are websites geared towards helping people raise funds for nearly any endeavor. Plumfund is one such platform. Your goal(s) must be well-articulated before you start, because there’s quite a bit of competition for public funds.

Budget – How Much Do You Need?

Determine how much money you’ll have to spend to get the fundraising campaign off the ground. For the same reasons as the above, it will help you before you start the clock on your crowdfunding campaign. It could take anywhere from weeks to months to hit your target.

The budget will need to cover staff, rental fees for a building if necessary, security, transportation, food/catering, entertainment and more. Think about what will get more people to respond to your invitation. For example, blue candy and food stations at the event could be that extra incentive as most people have a sweet tooth. Always add at least 10% to the final tally for cost overruns.

Will Marketing Be Necessary?

In all likelihood, it will be necessary. Even for an online approach, you’ll have to devise a plan tailored to your specific audience. They are the ones, after all, who will be deciding whether to donate to your cause over the other fundraisers.

Don’t place all of your eggs in one basket. Approach offline fundraising networks, use word-of-mouth marketing, make phone calls to organizations, etc.

The Importance Of Having A Leadership Council

These are the esteemed guests who have already pledged money to your event, and will help encourage others to do the same. Often called host committees, they’re comprised of angel investors, wealthy relatives or acquaintances, local businesses leaders, CEOs and maybe even a celebrity that is well-known to the area, if possible. You do not want to burden them with anything other than showing up to pledge their support; the actual handling of the event should be left to you and your staff.

Post-Event Thanks And Congratulations

Event organizers often overlook this. Always take the time to write thank you notes to the people who helped you – whether these are the host committee donors, the catering service, or your crowdfunding page. It goes a long way – especially if you ever need help with an event again. The vendors and staff will go the extra mile for you next time. Keep in mind that donors are often lending their help to causes, and most of them don’t receive a thank you. They’ll remember the ones who do.

 

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