How to Budget a Fundraising Event

It may be a no-brainer, but your fundraising event isn't going to be successful if you spend more money that you bring in. Yes, it's pretty much common sense, but you wouldn't believe how common it is for fundraisers to actually lose money. It can be blamed on poor planning and unrealistic expectations. The trick is to plan ahead as much as possible and use your resources well.

Things You'll Need

• Fantastic and motivated planners
• Expenditure spreadsheets
• Contact information for potential sponsors

Instructions

1. Lay out your fundraising event itinerary. Create a solid plan for the event time line, location and attendance expectation. If a meal is involved, you must know how much is the venue charging you, if gratuity is involved and how many people will attend.

2. List out your incidentals. Things like decorations, door prizes and snacks add up, so make sure you determine what you'll need beforehand.

3. Outline your publicity needs. Successful fundraisers include a lot of pre-event publicity. This includes flyers, mailings and advertising.

4. Get some free TV, newspaper or radio advertising. As per FCC rules, radio and television stations must run a certain amount of public service programming each week. Try to get a representative on these shows, to talk about the event. When it comes to charities, stations and newspapers are usually willing to help out by donating some space or time.

5. Solicit donations. Take a look at your list and pick out the things you think you can get for free or, at least, at a reduced rate. Local businesses may be willing to donate their services. This includes discounts on printing costs, food and equipment rental.

6. Contact corporate sponsors. This is where the big money is. It's best to solicit corporate sponsorships months in advance. This is done by sending letters to company heads explaining your fundraiser. Follow up with phone calls. Outline various sponsorship options and amounts, to appeal to a wide variety of companies. Get them to commit in advance.

7. Determine how much money is coming in. Don't spend more money than you expect to make. If necessary, cut back on your expenditures.

Tips & Warnings

• Overestimate your expenses and underestimate your income. This will prevent you from being overly optimistic and losing money.

• Don't just charge enough to cover each person, but enough to make money.

Resources

• Click here for a check list of budget details.
• Here's more advice for planning a fundraiser.