The long-term success of a nonprofit organization largely depends on fund development and sustainability planning. To survive, you must must implement multiple, diverse streams of funding sources—in the form of grants, corporate sponsorships, and individual contributions—to protect your organization and its mission against economic uncertainties and the vagaries of time. Each of these fundraising vehicles has its time and place, and nonprofit staff and board members must work together to establish a fundraising plan that is reviewed and updated on an ongoing basis.
Incite! Consulting Group can work with your nonprofit to design a robust fund development strategy that meets your current and future needs. Some examples of fundraising strategies include:
- Annual Fund – an organized effort to obtain gifts on a yearly basis to support, at least in part, general operations of a nonprofit.
- Online Giving – the act of soliciting donations using web-based tools like email, online auctions, crowdfunding, and social networks.
- Grants – a dollar amount formally bestowed on an organization.
- Special Appeal – a fundraising campaign focused on a fulfilling a specific need, and usually creating a sense of urgency. Also called a Special Campaign, Fund-a-Need, or Fund-a-Cause.
- Planned Gifts – the process of giving stocks, bonds, or other assets to a nonprofit through the provisions of a will.
- Capital and Endowment Campaigns – a gift, grant, or bequest made to a nonprofit. Can also refer to a fund made up of gifts and bequests that are subject to a requirement that the principal be maintained intact and invested to create a source of income for an organization. Donors may set up an endowment to fund a specific interest, or a nonprofit’s governing body may set up an endowment.
If you’re ready to explore how to diversify your revenue streams, give us a call today at (844) 946-2483.