How to Raise Money for a Nonprofit: 5 Expert Tips
Learn how to raise money for your nonprofit by following these mission-critical, expert tips.
Nonprofits depend on donors to fund their mission. But nonprofit fundraising is no easy feat. It requires creativity, ingenuity, and hours of effort. Read on for the top tips on how to raise funds for a nonprofit.
Importance of Nonprofit Fundraising
Fundraising enables nonprofits to complete their projects and fulfill their causes. It makes up a significant portion, if not all, of incoming revenue. Without funds, nonprofits can’t keep the lights on, make payroll, develop programming, or advance their missions.
And whether you’re trying to start a nonprofit in Colorado, Maryland, Ohio, or Florida, you’ll need to fundraise for startup cash. Achieve fundraising success with the following advice.
Nonprofit Fundraising Tips
Now that you understand the importance of nonprofit fundraising, learn how to bolster nonprofit fundraising efforts with these five tips.
1. Create a Donation Page
Online fundraising makes it easy for donors to contribute on their own time. A single donation landing page eliminates clutter, making it simple for donors to use. And with significant growth in online giving, your organization can’t afford to miss out on the opportunity.
Ideally, you should build a donation page on your organization website, but other donation platforms exist if that’s not an option. Ensure your donation page is easy to navigate and optimized for all devices. In addition, clearly explain on the page how your organization plans to use the funds.
2. Launch a Crowdfunding Campaign
Speaking of your online options to fundraise for your business, you can also launch a crowdfunding campaign to seek more money. Successful crowdfunding requires a fair amount of work and strategy. To get the most out of a nonprofit crowdfunding campaign, ensure you choose the right crowdfunding platform for your nonprofit.
Keep in mind that your crowdfunding campaign’s success is driven by your staff, powered by your resources and supporters, and facilitated by your fundraising and marketing strategies. Crowdfunding works best when there’s a deadline in place, so it’s an effective option for achieving a certain amount of money by a specific date. Communicate those goals to encourage donations and participation.
3. Host a Community Event
Consider creative fundraising ideas for a community event, like a scavenger hunt, karaoke night, carwash, or art show. Organizing fundraising events gets the ball rolling on longer-term initiatives and could come in handy when faced with a mid-campaign slump.
The success of your community event relies upon how best you promote the event and engage with the donors. Social media and email marketing provide great avenues for spreading the word about your event. Consider event activities that motivate immediate action, bring about maximum participation, and inspire your donors to dig deeper into their pockets.
4. Launch a Direct Mail Campaign
In today’s digital age, you might consider direct mail as unappealing to donors. But for nonprofit organizations, direct mail remains an effective touchpoint. Research indicates growth in response rates of direct mail, which catapults it to the top of the toolbox nonprofits can use to attract new donors and retain their existing donor base.
Partner with a direct mail vendor to remove the hassle of getting mail to prospects and current vendors. This helps increase your reach too.
5. Recognize and Reward Donors
Donor incentives help encourage donations. Finding new donors is important, but don’t forget to nurture your existing donors. Recognizing and rewarding donors keeps them engaged and appreciated, often resulting in repeat donations.
How to Develop a Nonprofit Fundraising Strategy
Develop a successful fundraising strategy for your organization by following these tips.
Establish fundraising goals and objectives: To create an effective strategy, you must know what you plan to achieve. Setting a fundraising goal provides direction and purpose to your team. It also helps encourage donors, especially as you get closer to the goal.
Organize a fundraising committee: Next, you’ll also need to organize a group of people — called a fundraising board or fundraising committee — to oversee fundraising for your organization. The fundraising committee should set your organization’s fundraising strategy. Include people with a variety of skills, including marketing, accounting, and event planning.
Create a fundraising campaign plan: With your fundraising committee in place, it’s time for them to create a campaign plan. Delegate tasks based on your board members’ various skills to create a well-rounded campaign.
How Board Management Software Improves Fundraising
OnBoard recognizes the need for a collaborative tool that makes communication, contribution, and fundraiser brainstorming a breeze. With real-time collaboration and one central location for board work, OnBoard is purpose built for nonprofit governance. Including features for effective meetings, task management, and more, the intuitive platform helps boards work smarter, move faster, and achieve more.
Effective fundraising requires innovating and staying on top of trends. Check out OnBoard’s Board Effectiveness Survey to learn more about the trends driving board effectiveness into the future.
Want to give your nonprofit board tools to succeed? Request a free trial today, or contact OnBoard about our special nonprofit pricing.
About The Author
- Gina Guy is an implementation consultant who specializes in working with nonprofit organizations get the most from their board meetings. She loves helping customers ease their workloads through their use of OnBoard. A Purdue University graduate, Gina enjoys refinishing furniture, running, kayaking, and traveling in her spare time. She lives in Monticello, Indiana, with her husband.
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