For every fundraising event you organize, you need to make sure you’re doing everything you can to raise as much money as possible, without wasting valuable resources, such as time and money.
Regardless of fundraiser size, there are a few fundraising event rules you need to follow which will help you maximize its success.
These types of events are still important for nonprofit organizations as they can help you create a stronger connection with the donors and sponsors.
Here are the rules you need to follow to organize successful fundraising events.
1. Keep the Focus on Fundraising
While it’s important to think about the event part of the fundraiser, fundraising event rules still apply.
This means you still need to:
- establish relationships with donors and guests throughout the event
- make asks – before and during the event
- explain why people should get involved and support your cause.
2. Start Planning Months in Advance
Your fundraiser’s biggest event, which can be a gala or an annual dinner, will require a year-long planning effort so you can ensure you’ll raise as many funds as possible.
These type of fundraising events can prove to be the most important ones when it comes to raising money. The bigger the event, the more work will go into it, which means you’ll need to start the planning process sooner.
By having all of this time at your disposal, you will be able to cultivate relationships with current donors, add new prospects, get in touch with them and build new relationships.
3. Book Entertainment
Whether you book or not entertainment for your fundraising event can set it apart from the rest. Your guests will not only leave feeling more connected to your cause, but they will also enjoy themselves during the event.
When deciding on entertainment, you should take into account the guests’ profile, the type of fundraising you’re organizing, your cause and venue size.
4. Close More Sponsorships
Sponsors contribute a significant amount of money to nonprofit organizations in exchange for certain perks, such as exposure.
It’s important to identify potential sponsors and contact them a few months before your event so you can establish all the details beforehand.
The sponsorship is a two-way street, so make sure you present the other party’s benefits as well when crafting the proposal.
5. Calculate the Net Revenue
When organizing a fundraising event, it’s essential to take into account how much money you spent on event planning and how much money you were able to raise.
Gross revenue represents the amount of money you were able to raise after the event, while net revenue defines the amount you managed to raise minus the event costs.
Calculating the return on investment for your fundraising activities can help you understand how effective the events you organized were.
Follow These Fundraising Event Rules to Achieve Success
By holding a great fundraising event, you will encourage the attendees to tell their friends about it and even bring them at the next one.
Also, if your fundraiser gets press coverage, it may raise the interest of other businesses as well which can consider becoming sponsors for a future event.
These fundraising event rules are not hard to follow, and the benefits you will see from applying them are going to be worth it.