Ways to Raise Money

Are you trying to come up with new ways to raise money for your nonprofit organization? There are several fundraising options that you may want to consider.

Be sure to always thank your donors!

Many charitable organizations hold a capital campaign fundraising drive each year. This type of fundraiser involves soliciting support from corporate and individual donors in the form of sponsorships, one time gifts, pledges for monthly gifts throughout the year, and other monetary donations. Typically, a capital campaign involves a combination of fundraising letter writing and personal contact with past and prospective donors.

Holding some type of fundraising sale is one of the oldest – and most lucrative – ways to make money. Many organizations offer special fundraising programs for nonprofits, from soft drink and gourmet food companies to organizations that sell seasonal items like gift wrapping paper and holiday greeting cards. Other popular fundraising items include candy bars, t-shirts, popcorn, and more.

Businesses that cater to nonprofits who are trying to raise money often provide catalogs and marketing materials at no cost, so that it's easy to get started taking orders and making money. Select a product line and train your volunteers on how to market the items and you'll be on your way to raising money for your organization in no time at all.

If a segment of your donor base represents an affluent population, you may find that holding an annual gala event is a great fundraising opportunity. Charity balls, dinner-dances, concerts, and other high dollar special events can be appropriate for some types of organizations. If you choose this type of fundraiser, be sure to select entertainment that will appeal to your primary audience and ensure that you can price the tickets at a level where you'll be able to sell them at a profit.

If your organization is membership based, you may want to consider expanding your membership categories as a way to raise additional funds. Nonprofits often designate a special "associate" member category for individuals and companies who work in professions that market goods or services to the types of organizations that make up the primary membership. In many cases, associate memberships have higher dues than standard memberships.

One way to justify the additional fee is to reserve the opportunity to market to the general members specifically for those who hold associate level memberships in the organization. For example, set aside a space on the organization's website to list associate members, and allow them the exclusive right to purchase ads in the organization's newsletter or on the website.

Selling raffle tickets can be a good way to raise money, particularly if you hold the raffle in conjunction with another event. If you can solicit items or services from donors, you can raffle off the items and keep the money earned from selling tickets. Another popular option is to hold a "split the pot" raffle, where half of the money raised from the ticket sales goes to the winner and the other half stays with the organization.

Many nonprofits hold an annual walk or run (or combination event) as a signature fundraising event. Putting on this type of event requires a major commitment on the part of management and a team of volunteers, but the result can certainly be worthwhile. The primary sources of funding for this type of event are sponsorships and runner registration fees. These types of events have the potential to generate a great deal of publicity for charitable organizations that put them on, so they can actually have residual benefits in terms of attracting new volunteers and donors who may become involved for the long term.

These are only a few ideas of different ways to raise money. Finding the best type of fundraiser for your charity requires a solid understanding of who your primary donors are and what they can afford, as well as what other organizations that you are competing with for donor support might be doing to try to raise money themselves.

For additional fundraising ideas, see:

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