How to Raise Money for a Small Non-Profit Group
Starting a nonprofit organization can be a noble gesture and can often be the key to finding your passion and doing what you love. However fulfilling your organization can be, it is also costly to keep the doors open, and you must keep coming up with ways to secure donations.
While it will take some work, funding your nonprofit will be well worth it when it successfully benefits those in need.
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Instructions
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Evaluate your group's mission and purpose. Are you seeking funding for research or fieldwork? Will the money be used to write a dissertation? Once your focus and needs are clear, you can begin searching for sources of funding.
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Look for a source of funding through grants for nonprofits. Grant donors are very specific about who they give money to, so, writing a grant will take much time and research. If you know an experienced grant writer, consult them for their expertise on what is needed to get a grant.
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Ask for donations. If your nonprofit meets the requirements and has been classified as a 501(c) by the Internal Revenue Service (IRS) you can accept donations. Many times family and friends are willing to donate money to worthy causes, especially if they get a tax deduction. Consult them to see if they would be willing to help fund your organization.
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Hold a fundraiser to earn money. There are many fundraisers that can bring in the needed money to start your nonprofit group. Golf tournaments and walks/runs are very popular. You can also have a raffle, silent auction, casino night, garage sale, carnival or gala.
There are many options depending on how much time you have to put into an event. Fundraisers will also be a good way to get recognition for your group.
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Take out a loan. Consult the Small Business Administration's website at www.sba.gov/smallbusinessplanner/start/financestartup/index.html about financing for your nonprofit organization. They have programs designed specifically for nonprofit groups that are just getting started.
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Many corporations donate to nonprofit organizations. Some only give to specific types of organizations, so you will need to confirm that your group meets their objective. Most list the requirements on their websites. You can also contact individual corporate community outreach liaison offices to find out if you qualify.
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Check online for websites that allow you to register your organization to receive donations and build online awareness. Various social networking sites such as Facebook.com and YouTube.com have nonprofit specific tools to help raise money. Also, check out Google Analytics (www.google.com/nonprofits) specifically for nonprofits and secure additional online donations.
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Tips & Warnings
Keep your fund raising investment costs low to maximize profits. Ideally your contribution should be less than 20 percent of the total cost of the event. To supplement, seek out companies and individuals willing to donate goods and services or in-kind donations. In exchange, you can provide their business' name on event literature.
