Grants are important fundraising sources for most non-profit organizations, but it’s not the only way of raising funds for charity. Some of the ways to generate funding for nonprofits include:
Event fundraisers are quite common for nonprofits. Your supporters get involved and attract more people to support your organization. The following are some of the events organized by nonprofits:
Walks and runs participants pay a fee to join and are also encouraged to ask other donations from family, friends, and co-workers.
Holiday themed events examples of these are New Year galas, Valentines Day activities, Christmas events, haunted houses, etc.
Dinners these get-togethers may include silent and live auctions, and other methods of raising money from the event.
The annual fund of a nonprofit organization consists of donations that dont have any restrictions regarding what the fund is used for. An organization can raise their annual fund by means of a direct appeal to known regular donors, occasional donors, and prospective donors. They usually send this appeal via direct-mail in the late fall, so people will receive it during the holidays, which is a time when they feel most generous.
Earned income pertains to revenue from products your nonprofit organization sells, or fees you charge for services you provide. If your organization has a physical location, then its a good idea to have some kind of retail. Some museum patrons may want to see a store where they can buy unique gift items, postcards, or souvenirs.
Capital campaigns generate funds for a certain project, like a large-scale program or a new facility that replaces an old one. The campaigns are usually for a limited time frame, chosen by the time youve collected the target amount or a certain time period.
There is a silent phase in a capital campaign that’s critical. This is when the director and board members encourage corporate and individual donors to donate early in a significant way.
The donations establish the success of the campaigns “public phase,” the phase where you publicly announce your plans, monetary goal, and the support youve already obtained during the silent phase. The silent phase is critical, because it gives confidence to your general donor that the campaign is worthwhile and will succeed.
If memberships make sense to your nonprofit organizations, then offer memberships. Rolling membership is when the membership renewal is a year from when they become a member. This way, membership income will possibly come almost every month, and youd have to send out renewal notices the whole year.