In many ways, finding the funds needs to have a successful and beneficial non-profit because it can be the most challenging and important aspect of the organization. There are various ways to pursue diverse and creative ways of funding a non-profit and they are essential for its success. The types of fundraising can differ but the overall goal is to make whoever is doing the giving believe in what the non-profit is doing and the positive impact on the community it is making. By knocking on every available door and finding people and organizations that are interested in the overall mission of the nonprofit, it is possible to find a broad array of funding options. This paper will examine three major ways of pursuing funding for a nonprofit.
These include individual contributors, local business and corporate contributions as well as the various events and sponsorships that raise funding and awareness for the organization. Depending on the size of the nonprofit, different amounts of money have to be raised and the budgets will vary, but gaining the interest and support of anyone who could possibly contribute is essential. Individual contributions are considered to be a highly useful form of giving due to the funds being “unrestricted”( wolf, 240). This means that the donor has no established or specific purpose for the money and it allows the organization to use the money as they see fit. As mentioned in lecture discussions, individual contributors represent the most valuable resource for any nonprofit organization.
Furthermore, It can be used in a variety of ways and that makes it easy to be directed to the area where it is needed most. Individual donors can be very important to a non-profit because it builds strong and mutually beneficial relationships between the donors and the organization. The donors must believe in the organization’s mission, in return, they can feel good about what they are contributing to and be more inclined to give more and often. In the book, “Managing A Nonprofit Organization” by Thomas Wolf, the author highlights the fact that the essential funding can be from a large number of small ongoing individuals gifts.
Small donations can add up and even someone who gives a small amount every year can be a strong and steady source of funding. Developing a personal relationship with the individual donors relies on email, mailings, phone calls and now even social media. Phone calls are a tried and true method and very effective at getting donations.
However, it’s important to personalize the communication and make sure the callers understand how to not invade the privacy of the donor and make them feel as comfortable as possible in the conversation. This way, an organization can connect with people in a more meaningful way and it feels more personal and the donor can really get a sense that their contributions are valued and appreciated. Larger gifts and donations are important, but many times they are restricted and very specific on how the gifts may be used.
Another major form of funding can come from local business. Since they are part of the community, it can be easier to connect with them directly and their gifts and contributions can be given in a variety of ways. As discussed in the book, “Managing A Nonprofit Organization” by Thomas Wolf, a business can give help in the form of professional help for hire, food or resources for events and even advertising or promotional tools to spread to word of the nonprofit. By being open and flexible to whatsoever type of contribution is given, a nonprofit can benefit in a variety of ways.
Also, by publicly thanking the business that contributes, it can positively reflect the business and raise its standing in the community. Another way to pursue larger funding is by going after corporate support. This can be a major source of funding but as the book states, these are businesses trying to make money and in order for them to contribute to a cause, it must fall under three specific categories. It must benefit them by enhancing their public image, be of benefit to their employees or help them market their business. By understanding their business and trying to connect personally with someone who works there, a personal relationship can be formed which makes it easier to ultimately take the steps to get them to take a real look at possibly contributing toward the nonprofit. Fundraising events is another key aspect to raising funds and broadening the public awareness of a nonprofit.
This type of event could be a gala or silent auction where local business and corporate businesses sponsor the event and can help provide the event space, food, and drink and also donate items for a silent auction. This is a very effective form of fundraising because it gives people an interactive experience with the nonprofit and people can communicate directly with each other and learn about the organization and their mission. Moreover, by having individuals from the nonprofit showcase themselves and show what the support is doing for them individually, and within the community, it strengthens the relationships between both parties. For example, in her speech to the class, Susan Johnson, executive director of Chicago Survivors, she touched on the importance of having speakers in the behalf of the organization that can communicate the organization’s goals and mission to the media and individuals seeking information.
Also, fundraising events can raise more awareness for the local business themselves. By having an exciting and unique event, people might attend who otherwise were not interested in the organization. Of course, planning these events take a lot of work and it’s important to be clear on everyone’s role in putting it on and making sure it is a fun and safe time, all the while maximizing the number of funds made for the organization, In conclusion, the three main ways of pursuing multiple funding for a nonprofit discussed were working with individual contributors, corporate and local business funding and using signature and innovate events or auctions. The more diverse and creative ways to raise funding for a nonprofit is key to its success and its impact that it makes. Proper budgeting is essential to make this work but getting people to buy into what the nonprofit is trying to achieve and to help them develop a sense of pride and ownership in the contribution is key. People want to give and also want to feel good about where their money is going.
By linking these two things, a nonprofit can generate the funds to aid the community and link giving with real action and change.