- When developing a fundraising plan, the first things to take into account are how much money will you be trying to raise, how much assistance will you have in raising it, and what your timeframe is. Obviously, smaller amounts are easier to raise and require fewer resources. Larger sums of cash will mean more extensive planning and more time to implement the plan.
- Regardless of the amount of money needed, the legal and tax implications should be investigated before any money is solicited to ensure that both donors and the organization are protected. When a large sum of money is donated, the donor can receive tax benefits; the organization should have the appropriate paperwork to document the donation. This information can be found by contacting the local IRS office. Similarly, having the appropriate accounts to place the funds in should be set up in advance. The organization's bank can provide advice on which type of account is best.
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Once you have legal and tax structures in place, it is time to raise the money. For smaller sums, a car wash can often get the job done in an afternoon. The more people you can rustle up to help, the more cash you will potentially make. Have a few people with signs on a corner to get the attention of passing motorists while the rest of the team washes vehicles in a parking lot. Often local businesses let nonprofit organizations use their lots.
For larger sums, it's a good idea to host an event that requires tickets to attend. Explore whether the entertainment and food can be donated or have a reducedd fee in exchange for the exposure for the catering company or band. Banquet halls often will donate the space or provide it at a reduced fee for nonprofits organizations. Auctioning items or giving away trips can help attract people to your event. Acquiring auction items by going around the community and explaining what you organization is doing and asking for help from a local vendor. It is good public relations for the company and a tax write-off, so don't be shy about asking anyone.
