5 Ways to Fund Your Organization
One of the many questions I get is "How can I get funding for my organization?" Well, it makes a big difference if you're a 501(c)(3) or not. For the sake of this post, the following suggestions are for those that are currently a 501(c)(3) or those working on paper work.
Fundraisers:
This is a great way to get everyone in your organization involved because it makes them feel as they have a key part to play with getting what the organization needs and making a difference. Believe it or not, there are people that enjoy volunteering their free time to a cause they love & believe in while doing the things they enjoy as well. If it feels like work, your volunteers will fade away slowly but surely. I cannot stress this enough, make sure you've assigned them to the right position. Read my past blog post titles 5 Reason Why Volunteers Are Important to Your Organization.1) Discover a fundraiser where everyone in the organization can participate in 2) Choose a fundraiser that won't burn a hole in your pockets or take away too much time from your schedule 3) Choose a fundraiser idea that is apart of your daily, weekly or monthly activities.
Donations:
Donations can come in many different forms, one being clothes. 1) If you have your own location, you can have a thrift store setup where anyone in the community could come out to purchase items that were donated. 2) Material items could take the place of funds. If your organization is in need of a new printer or computer, people in the community can donate items that are on your supplies list (which should be included in your yearly budget. 3) You can also check out my past blog post 5 Ways to Build Your Donor Base to see how your organization can reach different stakeholders and keep them.
Grants:
This is a great way to receive funds but what many struggle the most when trying to tackle this. There are many different organization's out there that feel as though they are deserving for the same grant that you are going for which is why many times, grant writers are hired and specialize in this area to assist sometimes not just the paperwork aspect, but assisting with your proposal. This is why I tell my clients and individuals who ask "How can I get funds or donations for my organization?" You really need to make sure you have a firm foundation which make up the organization (volunteers). There are key roles for everyone. You can't be successful if you have volunteers or staff in areas they don't belong.
Membership:
Many small organizations feel as though they shouldn't charge a membership fee due to what they stand for or may feel as though it'll be frowned upon. Going this route shouldn't be the only route you take when raising funds but it's definitely a great start to have funds come into the organization ongoing (as mentioned above in the fundraiser section). Membership fees could be monthly, quarterly or whatever your team decides, but make sure you consider what it will cover: the fee amount, what the member of the organization will receive from paying this fee.
Board members:
My all time favorite portion. Many of you may have board members that are active or close family & friends that are at the table for support. The number one givers in your organization should be your board members. This is a important honorable role to play within an organization. They should posses great qualities in which will drive your organization in a successful direction. Get their input and suggestions on how they plan to contribute: being a major donor, give their expertise, and assist with fundraising plans.
I hope you found this blog post helpful. Again this just to shine light on what many of you have reached out to me about. If you're interested in digging deeper and seeing how you can go about this for your organization (whether you're a 501(c)(3) or not) you can reach out to me directly by emailing me at ashley@theenonprofitqueen.com