(based on Fundraising strategies course from Philanthropy University (lecturer Tom Wolf))
Is your organization fully prepared for fundraising? Have you had the necessary meetings with the team? Do you have an idea or already a prepared project? Have you developed an organization strategy, fundraising strategy and action plan? Everything seems to be well, colleagues are committed to active and effective actions ...
However, there is only still only one important question: "Who is your ideal donor?".
Actually, it is important not only to prepare your organization to additional funding attraction and these financial resources management. It is important to find such donor that will be able to provide an appropriate funding to meet your organization needs.
How is it possible to find such a donor? We are looking for answer, learning the course Fundraising Strategies by Tom Wolf on Philanthropy University platform.
1. Some additional funding – is it only money?
Many businesses and the public sector representatives are thinking only about money, concerning fundraising and grant making process.
However, this is not always true. Tom Wolf gives an example: “Let’s suppose that you intend to provide consultation and various forms of basic medical services. Probably, there is not a lot of local funds who can offer additional funds to support your business. However, there are businesses and individuals who are willing to provide free space or free equipment. In addition, there may be some volunteers to provide free services. Thus, there are some kinds of your business support. However, it is not compulsory cash support. ”
2. Is additional funding always available for a limited range of activities?
Different funds may offer two types of funding: restricted and unrestricted. The unrestricted funding programs may be used at all stages of your project implementation to support any process. However, the organization should act in accordance with law and the project mission. At the same time, the restricted funding programs require the completion of specific tasks at a specific timeframe. What type of additional funding is better? It is not time for conclusions. Thus, there are many unrestricted funds. However, grant amounts are not often large enough.
3. Is it obligatory to look for a specific donor to get more funding?
Tom Wolf concerns the possibility to become a specific donor yourself. How is it possible? For instance, there is a possibility to manage a particular event. It is possible to invite many people to spend a good time paying for attending the event. Your revenue may greatly exceed your expenses in this case. Thereby, you will get your additional funding for the implementation of your project. A dinner, a dance master class, a sporting event, community events and more may be among examples of such an event.
4. Is it obligatory to pay more today for getting more tomorrow?
You should take care about the project cost. The large revenue is not always the most important thing within your project. The most important think is the result that this money will bring. Thus, take care of your project results!
What type of funding to choose and which donor to apply? Who will the ideal donor for you? It just depends on your project peculiarities and your priority.
Let’s grow together and expend our potential!