Where Is the Money? · •Friends •Social acquaintances •Neighbors •People from house of...
Transcript of Where Is the Money? · •Friends •Social acquaintances •Neighbors •People from house of...
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Complete Community UniversityOctober 12, 2018
Where Is the Money?
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Can You Answer These Questions?
• Why do you need money?
• How much do you need?
• Who will benefit?
• How will you manage the money?
• What results will you deliver?
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Questions to ask next
• Do we have our data organized?
• Do we have a fundraising plan?
• Do we have an implementation plan?
- Who will do what by when?
- How do we measure success?
• What do we do if we fail?
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Develop your case for support
• What do you do?
• Where do you do it?
• Who else does what you do?
• How is what you do different?
• Who benefits from your activities?
• What are your results?
• What is your vision for the future
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Types of Support Needed
• General operating
• Special projects
• Capital projects
• Reserves
• Endowments
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What Constitutes a Solid Financial Base?
• Organization has a mix of funding sources– Individuals
– Foundations
– Corporations
– General Public
• Organization has a mix of activities that generate revenue
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Revenue sources
• Fees for service/entrepreneurial ventures• Government/public funding opportunities• Private foundations• Businesses• Individuals • Membership• Planned gifts• Events and activities• In-kind gifts
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How do we diversify our fundraising mix?
• Determine percentage of funding from top revenue sources (2 or 3)
• Maximize existing resources
• Identify new revenue sources
• Do cost-benefit assessment of all activities
• Determine skills/staffing required for growth
• Identify tools needed (hardware/software/other)
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How much money do we need?
• What were your expenses last year?
• What cost increases do you anticipate?
• What new initiatives do you hope to launch?
• How much more money is required?
• What options are available for increases?
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Where can we find more revenue?
• Current supporters can give more
• New supporters can be recruited
• Additional grant funding can be secured
• New fee-for-service activities can be launched
• Costs can be reduced in some areas and expenses shifted from one area to another
• Special events can be created (with cost-benefit assessment)
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Who can we ask to support us?
• Family
• Friends
• Social acquaintances
• Neighbors
• People from house of worship
• Co-workers
• Club members
• Leisure contacts
• Professionals and service providers
• People who have supported you in the past11
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How do we ask for money?
• Make a list of prospects
• Practice with a friend
• Ask for a specific amount ($10 for ticket, etc.)
• Describe the importance of cause
• Be prepared for questions
• After you ask – stop talking and listen
• If they say yes, set a time to collect funds
• Always say “thank you”12
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How do we create a fundraising plan?
• Define non-financial goals
• Define financial goals
• Establish reasonable measures of success
• Create an action plan
• Set deadlines
• Assign responsibility
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A Final Thought…
For more information:
Ronnie Hagerty, Ph.D., CFRE
United Way of Greater Houston
Fundraising is really friendraising – with a lot of hard work behind the scenes.
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Nonprofit ConnectionUnited Way of Greater Houston
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Fundraising Resources
Association of Fundraising Professionals (www.afpnet.org )
BoardSource (www.boardsource.org )
Grants.gov (www.grants.gov ) 26 grantmaking agencies
GuideStar (www.guidestar.org )
Foundation Center (www.foundationcenter.org )
National Council of Nonprofits (www.nationalcouncilofnonprofits.org)
NTEN/Nonprofit Technology Network (www.nten.org )
Nonprofit Risk Management Association (www.nonprofitrisk.org )
Texas Center for Grants Development (www.texasctrgrants.org)
Tech Soup – discount software (www.techsoup.org )
United Way Nonprofit Connection (www.unitedwayhouston.org )
VolunteerMatch (www.volunteermatch.org )