What are the main things to know about fundraising?
The majority of people equate fundraising with that moment when a gift is requested, either through the mail, a phone call, at an event, or online. Asking for money is just a small part, around 10 to 15 percent of the work involved in fundraising. The major work is before and after asking for the funds. Fundraising is not a complicated thing. It involves identifying prospective donors, informing/educating them about the cause, cultivating them, requesting them for support, making sure to recognize them and their contribution and increasing their commitment through engagement with the mission.
Fundraising may be a simple process of asking others to get involved by providing help, taking a stand, and/or joining a movement. While the biggest quality that is required is a passion for the mission, there are techniques and strategies, some of which are given below, and are also important to be a successful fundraiser.
You are not Begging
A lot of new fundraisers feel that they are down on their knees, begging for funds from the donors. Nothing could be further from the truth. Begging is when you ask for something with nothing offered in return. Fundraising asks for something while offering something back in return. It is more of an exchange rather than just charity. Your cause gets money from the donors and the donors get an opportunity to participate in a service that is provided to the community. They also get a tax benefit for the funds given.
Money is Scarce
Agreed, that there is competition in the fundraising world. Over 1.5 million nonprofit organizations in the US mean that donors have many options. But competition implies that winners and losers are fighting for the same finite thing. Charity and philanthropy are not finite and it certainly isn’t scarce. The majority of those who give to charity spread it around.
Related: 5 Advantages of Using Wristbands to Promote Your Cause
Charity Begins at Home
There is no doubt in that saying – if you are not giving yourself, the chances are you are not getting it from others. While there are no quotas to how much everyone should give; according to BoardBuilders.com, every board member should give to the best of their abilities. Every board member of your organization should commit to donate to the charity supported by the organization. There is no way that you can enforce a commitment, however, it sets the right tone for the organization.
Face to Face
There are numerous ways of approaching a donor for fundraising. However, the best and most effective way to do so is face to face. There are several advantages to this method, some of which are listed below.
- It gives you time to talk to the prospective donor to figure out how their interests can blend with the work that your organization is doing.
- Your passion can be seen and felt by the donor when he can see you in front, talking about the cause and its requirements.
- Any queries or questions that the prospective donor might have can be answered straight away. This also shows that you are aware of and fully committed to the cause.
- Prospective donors will appreciate that not only are you giving your time and money to the cause; you are also displaying courage by soliciting support in person.
- Data indicates that donors give more money in person than the amount they send across to you.
The Bottom Line: Things To Know About Fundraising
The real goal of fundraising is not collecting money – it is increasing the donor base for your organization. Donors are more likely to support your vision if they see a firm understanding and commitment from your organization to its various funding causes.
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