Funding your nonprofit is no easy task. However, when doing so, diversification is one of the best things to keep in mind. Tapping into multiple funding sources, such as donations, grants, and online fundraising, often offer better results than if your organization solely focuses on one avenue. If your nonprofit is looking for ways to improve its fundraising efforts, here are five tips.
1. Engage with individuals who believe in your organization
Some of the best and most reliable funding for any organization comes from donations by individuals who feel a personal connection to your mission. These individuals who believe in your organization should not be overlooked as a core part of your fundraising. Grants and funding from corporations can change drastically or fall through altogether, but having a solid base of individuals who give regularly can help to soften the blow if you lose a grant or corporate sponsor. One of the best ways to reach this group is through genuine engagement. You can help these individuals see the impact they are making through e-newsletters that offer insights, updates, and highlights other needs your organization may have. You can also share similar content to your social media pages, which will also help engage this group.
2. Think big picture with your major donors
Certain individual donors have the resources to make major donations to your organization. However, soliciting donations from this group may require a slightly different approach. You may need to arrange a sit-down meeting with these individuals to keep them informed them about your nonprofit’s performance, the organization’s short- and long-term goals, and how the organization will benefit from their contributions. You can also be creative in the way you show your appreciation for their contributions to your organization. Some nonprofits recognize major donors by invitations to exclusive events or prominent recognition on the website, banners, and other materials. You can decide what appreciation methods would be most meaningful to your major donors to keep them engaged long-term.
3. Ensure your website has easy donation options
Your website can be leveraged as a major tool for soliciting donations, so don’t skip it! Your website should include clear “Donate Now” buttons across the site—not just on the donations page. Speaking of your donations page, this should offer interest to someone who is considering giving to your organization. This page should also outline the impacts of a donor’s giving. Add images, video testimonials, and summaries of what recent campaigns and giving have been able to accomplish. Additionally, you should be creating social content that links to this page for an even greater impact.
4. Focus time and energy on grant applications
Another important way to procure funding for your nonprofit is by applying for grants from the government, private foundations, and corporations. Grants can provide significant funding and allow organizations to expand departments, begin new initiatives, and more. However, the application process can be a grueling one. You may want to engage a grant writer who has experience writing letters that will increase your chances of getting funded. Another option is to invest in a grant writing course for a current employee.
5. Host events to engage your supporters
Hosting an event is a great way to rally support for your organization. Many organizations host annual galas or dinners that can be both a great source of financial support and a great networking opportunity for all who attend. You can also engage sponsors for these types of events. However, not everything needs to be extravagant. You can also host more casual events throughout the year, such as a benefit garage sale or cold weather donation drive. Getting the community involved in your organization is always beneficial to creating long-lasting relationships that may be accompanied by monetary donations or even volunteer hours.
Final thoughts
Remember, diversifying your fundraising efforts does not mean that you have to dive into an abundance of different options. Instead, engage in a manageable amount of funding projects that make the most sense for your organization.
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