Every charity needs to be intelligent when it comes to financial management. As a not-for-profit organization, you will need to come up with clever ways to raise funds so that you can keep your operation afloat. Charities often have numerous expenses to cover, so what are some of the most savvy ways to raise funds? There are a number of strategies to use that should give you the money you need to enjoy stability and work towards your overall aims and objectives. So, if you are looking for ways to raise funds as a charity, make sure you check out the rest of this article.
1. Fundraising Events
First, you have fundraising events, and this is a tried and tested strategy. Fundraising events give you the opportunity to engage your target market, create a community for your charity, and build relationships, all while generating funds to support your charity. The key is to come up with events that your target market will want to attend and support.
2. Crowdfunding
Crowdfunding has become a huge source of financial support for charities and other non-profits in recent times. Essentially, crowdfunding allows you to create virtual campaigns so that you can engage potential donors from all around the world. In addition to being a great way to raise funds for your charity, this can also be a smart way to increase brand awareness and raise support for your charity.
3. Charity Lottery
A smart strategy that is rising in popularity is the charity lottery platform. These involve your supporters making regular low monthly contributions that go into a lottery draw with the ability to win prizes. This can provide your charity with stable and strong revenue and should help you attract new donors to your charity. Charities need to have reliable revenue coming in each month, and a charity lottery can provide this, which should also help to provide peace of mind. You will want to use a managed charity lottery service so that you can provide the best possible service for your donors while also freeing up time to focus on other revenue streams and tasks.
4. Peer-to-Peer Fundraising
One of the best ways to increase revenue and find new followers is with peer-to-peer fundraising. Essentially, this involves getting your existing supporters to raise money on your behalf and be a champion of your cause. This will give you a much larger reach and could help you to find new donors that you might have otherwise never reached before.
5. Corporate Sponsorship
It is also worth speaking with local business owners and corporations to see if a sponsorship deal can be agreed. Corporate sponsorship can be a mutually beneficial agreement because the charity is able to generate significant and stable funding for the operation while the business is able to develop a positive reputation – something that is key in a time when ethical consumerism is on the rise.
These are a few smart and savvy ways to raise funds for your charity and will hopefully help you to achieve your aims and goals as an organization.
