Annual Fundraising Strategy for Nonprofits

Having a detailed and a strategic plan before starting your fundraising efforts is probably the best advise anyone who has had experience in this field will give to the nonprofits. Planning out every activity gives you and your team a sense of direction and a goal to keep aiming for. More often than not, the success of your crowdfunding efforts depends on your initial strategy. The best thing that can come out of detailed planning is that you get to learn from the past. As each year goes by, you will better understand the nuances of the philanthropic world, as well as the fast-growing method of online crowdfunding in India.

The best crowdfunding plans should have answers to every possible question that a potential donor may have, from the NGOs, before contributing to the cause.

 

This article offers a six-step fundraising strategy and planning process for anybody who is beginning fundraising efforts for their NGOs –

 

Step 1: Analyze past figures

Learn from your mistakes. This is a key suggestion for any kind of organization. Put together your income and expenses from the previous year to know your spending pattern. Analyze where you can cut down costs and where you need to dedicate more time and resources. Evaluate the sources that brought in money, and the sources that didn’t. A good way to do this is to make a chart of the previous year, and then consequently make one for the year to follow. This step will help give you more accurate projections for income and expenditure in the next year. It should include all costs associated with advertising, campaigns, overheads, travel, food, staff payments, and every other cost related to your NGO or nonprofit.

 

Step 2: Have a mission

In simpler terms, determine the philosophy of your organization. Your annual fundraising campaign should begin with giving details about your background, your team, your vision, your goals, and most importantly – your current efforts. It is necessary to have a firm positioning about these details from the very beginning, because it may reflect instability and unreliability if you change your vision and mission in the middle of your crowdfunding campaign. It would be good to include some noteworthy achievements from the previous year as well, as it helps to create goodwill for your nonprofit initiative.

 

Step 3: Gather your resources

Your online fundraising resources are all the assets (fixed, variable, tangible, intangible) that make your crowdfunding campaign successful. This includes people, money, materials, and equipment. Assign a tangible value to each of these resources. This step is also important when it comes to budgeting your expenses for the year.

Another vital part of your resources is your team. Be sure to put together a strong team of like-minded individuals, with the same ideals and goals for the NGO. Having said that, it might be beneficial to have a mixed bag of people with different professional and lifestyle backgrounds, as they will be able to bring in a lot of varied ideas and insights owing to different experiences. Ensure that each member has a specific skillset that will be used to further your cause, such as, strategy, communication, accounting, social media, etc.

 

Step 4: Budgeting

The first step of this annual fundraising strategy was to put together the numbers and figures from the past year and analyze them. We suggested making a chart for the same. Assuming you have all your information together, that chart will tell you so much about from where did your income come in the most, where do your heaviest expenses lie, where you can cut down costs, which departments need more attention, which resources are most valuable to you. Your analysis should include the following costs:

  • Staff payments
  • Overheads (rent, electricity, etc.)
  • Advertising
  • Cost of communications (includes designing, printing, stationary)
  • Consultations
  • Food and travel
  • Events
  • Other miscellaneous expenses

This way you will be able to make an accurate estimation of your income and expenditure in the following year.

 

Step 5: Set up a network

Taking previous years into consideration, analyze the sources from where most of the income is being generated. This will help you with segmenting the market, and knowing exactly where your donor base is. When you have a fixed target market, you can direct your cost of advertising, campaigning, and communication efforts towards them. For instance, if most contributions are coming in from CSR activities by big business, then that’s where your audience lies. You can even consider combining your online fundraising efforts with offline engagement events, which will grow your network of donors and open up more options for future collaborations.

 

Step 6: Set goals and timeframes

Each year, your fundraising campaign should have a new goal. The most common goals include the following:

  • Expanding operations to other parts of the city or country
  • Acquiring new donors with a fresh fundraising strategy
  • Engaging your current donors in fundraising activities

 

There are two ways of setting these goals. You can either have one goal for the entire year, and direct all your efforts and resources towards achieving it, or you can give a fixed time frame to each of these goals by distributing it throughout the year. For instance, the first six months can be dedicated to expanding operations, the next quarter will be dedicated to acquiring new donors, and the last three months will be occupied with engagement activities for current donors.

Having a rough idea of what you want to achieve in the year to follow is not enough information to go by, and this will become glaringly obvious, the more often you start making strategies for your mission.

It is not an easy task to plan your fundraising strategy with such great detail. But once you’ve done it, you will find that it has the potential to make your job so much easier. We also suggest some amount of transparency with your crowdfunding team, so that everyone in the organization is up-to-date with the current status, as well as with future goals.

So here it is, we hope this six-step guide helps you better plan your crowdfunding activities for the next year!

Ready to create a fundraiser for your nonprofit organization now?

Good luck!

3 easy ways to fund your medical treatment

When someone in your family falls severely ill, aside from the trauma of the sickness itself, medical expenses and hospital bills can be really damaging to the family. In India, where health and sanitation facilities are not easily accessible or affordable for all, especially in many rural regions, catching a life threatening disease or illness is feared.

 

The most practical measure to seek help with medical bills is to have medical insurance. But realistically speaking, the greater number of our population may not be able to afford medical insurance. So they resort to other ways, such as applying for loans or asking friends and family for money.

 

Here are three useful ways to seek financial help for medical treatment:

 

1.)  Medical Loans: 

 

medical fund blog-Loan

 

As long as there are no previous loans or arrears, with the right documentation and verification process, application for financial help for medical treatment in the form of a loan can be raised with the bank for medical emergencies. Alternatively, one can even take a personal loan from a friend or a family member for little or no interest to get help with medical bills.

 

2.) NGOs or Private trusts

 

medical funding blog-NGos

 

 

There are many NGOs and private trusts that have been set up solely to provide financial help for medical treatment to people suffering from a certain medical condition. For instance, there are cancer societies, AIDS trusts, associations for the blind, to name a few. Most of these associations have strong networks with philanthropists, and even government networks, who can offer subsidized treatments and schemes for payments.  

 

3.) Crowdfunding

 

medical fund blog- Crowdfunding

 

Crowdfunding is another very effective way to raise funds for medical expenses. This method relies on effectively communicating your urgency for funds to a large number of individuals, groups, and organizations, who can be persuaded to contribute even small amounts through online platforms. There are many crowdfunding portals such as Impact Guru, that one can use to set up their campaign and apply for financial help for medical treatment. While it is a newer method, it is growing in popularity owing to its ease of usage and effectiveness of fund utilization.

 

When a loved one’s life is in jeopardy, and can only be saved through an expensive medical procedure, the need of the hour is to find any way that you can to get medical help and raise money for treatment.

Worried about paying the medical bills? Sign up to get access to financial help for medical treatment.

 

 

 

Worried about paying the medical bills? Sign up to get access to financial help for medical treatment.

3 Truly Amazing Initiatives to Motivate You this New Year

We are marching towards a new year with great vigor in the next two days.
Everybody has their brain cells working on New Year resolution lists, ideas, gifts.
Let a quick read on these wow initiatives of 2016 motivate you to enter 2017, inspired.


1. Empowering Women – Valuing Crafts, Generating Livelihood   

RUAS is a nonprofit that is working towards promoting the valuable embroidery crafts of the region while also empowering the local artisan women to earn a livelihood with their talent. Suf is one of the lesser known embroidery art form from the region of Kutch, Gujarat that is being highlighted by them.

RUAS India

Recently, Madhu Jain –India’s leading craft revivalist also showcased the greatness of India’s rich weaving tradition in the first-ever French European India Fashion Week in Paris, an initiative of our Prime Minister co-hosted by Namaste France. October saw the French praising the SUF. Commendable, isn’t it?


2. Helping Animals Stand Back on their Feet