WHAT'S SO SPECIAL ABOUT EVENTS?
It's 5:30pm, the Board has just reviewed the treasurer's
report and it looks like you're going to be about $50,000 short for the
year. A loyal, dedicated board
member says......"Why don't we hold a golf tournament? We all like to play golf, surely we can raise the
$50,000 we'll need!" Everyone
enthusiastically agrees, a date is set and you have your marching orders. Sound familiar?
Boards often think that events are an easy way to raise funds- not to
mention the fact, that it takes the direct financial pressure off of them. But if you consider the ROI (return on
investment) of time and energy related to the different ways funds can be
raised, it is not always the best choice.
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FUNDRAISING METHOD COST EFFECTIVENESS
Method Typical Expense Range
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Direct Mail
Acquisitions
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$0.95- $1.25 per $ raised
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Direct Mail
Renewal
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$0.24- $0.38 per $ raised
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Telephone
Acquisition
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$0.90- $1.20 per $ raised
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Telephone Renewal/Upgrade
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$0.27- $0.40 per $ raised
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Special
Events
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$0.45- $0.55 per gross $ raised
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Grants:
Corporate/Foundation
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$0.03- $0.20 per $ raised
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Planned
Giving
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$0.05- $0.25 per $ raised
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Major Gift Personal
Solicitation
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$0.02- $0.15 per $ raised
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Capital
Campaign
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$0.03- $0.10 per $ raised
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Source: Stanley Weinstein " The Complete Guide
to Fundraising Management"
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EVENT ESSENTIALS
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It is much more cost and time efficient to raise money through
a major gifts fundraising effort than it is to conduct most events. The amount of staff and volunteer time
needed to conduct a successful event can drain time and effort from other more
efficient ways of raising funds. But if you are going to do an event.......make
sure you: ·
support your strategic plan initiatives for
friend and fund raising
·
have sufficient resources(staff and volunteers)
·
know and stick to its real purpose(s)
·
have board support
· create a committee structure that divides sales from logistics
·
have a realistic budget
·
create a task timeline
·
assume Murphy's Law will be in full force
·
debrief the event thoroughly among staff,
volunteers and
supporters (guests and sponsors)
·
have a WOW factor!
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