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Clever Ways to Build Funding as a Nonprofit Organization

Choosing a cause that is important to you is just the first step in actually making difference in the world. Every year, tens of thousands of Nonprofit Organizations open their doors in the United States, but only some are able to ever achieve their mission. If you want to succeed as a nonprofit Organization, you are going to need to first make sure your organization is well-funded and financially sound.

Usually, the nonprofit organizations that are able to generate the greatest amount of funds are the ones that can build funding from multiple different sources. If your organization becomes entirely dependent on a single source for funding, you will systematically become exposed to an increased risk of financial collapse.

Putting all of your eggs in one basket makes you more likely to fail as an organization. It is important to be sure to diversify your sources of funding.

Fortunately, there are a number of different ways your organization can secure funding.

Create an exclusive membership club

People are more likely to donate to your organization if they feel like there is something ‘in it’ for them. By creating an exclusive membership club, you can help your potential donors feel important and appreciated, and increase the likelihood they will continue to donate in the long-run.

There are multiple ways you could fund your exclusive membership club, and there are also a number of different exclusive benefits you could possibly provide. You can grant membership in exchange for a one-time donation (marketed as a ‘lifetime membership’), or you could grant membership on a monthly, quarterly, or annual basis.

Membership in this exclusive club can have perks such as getting to go to exclusive events, receiving a monthly newsletter, getting discounts on a given item, or whatever it is you see fit. These clubs can help build a strong base of supporters that will be both loyal to your organization and more likely to get their friends involved.

Utilize social media

Social media is a great resource for nonprofit organizations for a number of reasons. Social media can enable your organization to reach a wider audience than ever before, it can help you create a positive image, and it can also create an additional avenue through which people can donate.

There are numerous examples of non-profit organizations utilizing Facebook, Twitter, Instagram, Snapchat, and numerous other media outlets to quickly raise funds. When March of Dimes decided to expand their social media outreach in 2012, they were able to nearly double the amount of money they received that year.

While smaller nonprofit organizations might have a harder time gaining a truly viral following online, using social media is a great place to start small and work your way up. By creating content that is unique, sharable, and demonstrative of your organization’s success, you can quickly generate interest.

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Partner with a for-profit organization

Though nonprofit and for-profit organizations quite frequently have very different structures and operating models, what they both have in common is that they are trying to achieve some sort of ultimate goal. While most for-profit organizations are driven by their desire to increase value for shareholders and most nonprofits are driven by their desire to create some social good, these goals can quite often be compatible with one another.

For the purposes of improving their public image, helping with a good cause, and potentially receiving some tax benefits, many for-profit organizations are eager to partner with nonprofits. If your non-profit can secure a stable (and perhaps wealthy) sponsor, then you have the potential of tremendously increasing your funding over time.

There are multiple different kinds of partnerships of this kind you can potentially create. These partnerships include simple funding-exposure exchanges, goods-services exchanges, community events, and numerous others. The more successful nonprofit organizations are the ones that are able to engage multiple donors at once—a goal that is certainly within reach.

Create a unique fund-raising event

People love having things to do and people love helping a worthwhile cause. Because of this, well-organized fund-raising events can often be a nonprofit organization’s greatest source of income.

Events such as a charity walk—where people ask their friends for donations based off of how far they walk—can be remarkably successful because (if properly managed) they can offer an excellent ratio of funds-raised to costs incurred. Additionally events like these give the participant a feeling of personal heroism that can be uniquely motivating.

Whether it is a charity walk, a neighborhood pot-luck, golf tournament, a canned food drive, or anything else, establishing yourself as a stakeholder in the community is both a great way to get funding and increase public exposure. People naturally want to be a part of something, and if your organization can create such a something, you will be poised for financial success.

Gain exposure wherever and whenever possible

Quick—name ten non-profit organizations off of the top of your head.

No matter what these ten nonprofit organizations may be, it is clear that they have done something to be the ones you think of first. More than likely, these organizations are instilled so deeply in your brain because—slowly but surely—they have gained constant exposure in your life.

Generating funding as a nonprofit organization is an uphill battle that will take a great deal of time. Marketing and public relations are very important for your organization to be both remembered and recognized as an organization capable of achieving good. With over 1 million non-profit organizations in the United States to choose from, you are going to have to clearly show the public that your organization is different and better than every other alternative.

The best way to be remembered is with consistency. If you can keep having the name of your organization known, people will be more likely to donate. By showing that you are still out there, still doing good, people will inevitably want to be a part of such good.

People’s general instinct is to do nothing. But if you are persistent, they can eventually change their minds.

These are just a few ways you can help your non-profit organization generate funding. The more creative you are, the more persistent you are, and the more good are capable of producing, the more likely you will be able to secure long-term funding.

The post Clever Ways to Build Funding as a Nonprofit Organization appeared first on Ally 360 Blog.

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Clever Ways to Build Funding as a Nonprofit Organization


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