An effective, profitable fundraising event takes work….a lot of WORK! A successful fundraising event requires extensive planning, strategy, budgeting and coordination.
It is impossible to prevent all mistakes or foresee every problem that could occur; however, the following tips may help your organization avoid fundraising mistakes. Fundraising mistakes can be the difference between a successful event and one that is not! TOP 10 FUNDRAISING MISTAKES 1. Crisis Mode Fundraising Avoid THROWING TOGETHER a fundraiser to address an immediate financial emergency. Hosting a fundraising event requires extensive planning. Allow a minimum of four to six months for planning. 2. Failing to Research Conflicting Events The goal of a fundraising event is NOT to simply attract dedicated supporters of your cause, but to attract new donors and volunteers. It is imperative to thoroughly research possible conflicts. Search Community Calendars and Similar Organization Websites to help identify conflicts. 3. Failing to Prepare a Budget Failing to create and follow a strict budget can drastically and negatively impact the potential profits of the intended FUNDRAISING event. Be mindful of expenses (large and small) not included in the budget. 4. Assumption of In-Kind Donations Donated items are key components for the success of a fundraising event. Part of the planning process should include a strategy for requesting In-Kind donations; the danger lies in DEPENDING upon them. Necessary items should be included in the budget. If these items are actually donated, the profit margin increases. 5. Lack of Back-Up Planning A back-up plan is necessary in the event of inclement weather or unforeseen emergencies. 6. Failing to Abide by Local Laws and Ordinance Verify that the event is covered under an existing insurance policy or whether an umbrella policy may be necessary. Obtain ALL required permits and be aware of ordinances that have the potential to interrupt or shut down the event. (Example: Noise, Traffic or Parking Ordinances) 7. Lack of Marketing Strategy Social media platforms are great tools; however, this resource should never be relied upon as the ONLY source of marketing. Awareness is a must! People must be made aware of a fundraising event, or they will not attend. Again, the budget should include advertising costs. 8. Professional Fee/Contract Misunderstandings Read contracts CAREFULLY regarding payment, equipment and fees for speakers, musicians, etc. 9. Equipment Issues/Security When at all possible, have extra equipment or qualified staff that can correct an issue. Problems with sound systems, refrigeration units, air-conditioning/heat and outdoor electric outlets can RUIN a fundraising event. Also, SECURITY is vital for the protection of attendees, workers and facilities. 10. Failure to Form a Fundraising Committee Form a fundraising committee comprised of dedicated volunteers who are willing to take charge of certain tasks. Never tackle the challenge of putting together a fundraising event alone or with minimal volunteers.
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