Fundraising in 2020
Making up revenue from cancelled events and reduced donations
There is one thing we all agree on… 2020 is a year like no other. While some food banks and human service groups are seeing their highest contributed income in history, many charities are canceling events and wondering how they will make ends meet.
There are two things we should all be doing this year to maximize success:
Focus donor communication on the way your charity helps those impacted by COVID-19 and associated economic challenges
Treat the next 6-12 months like a mini-campaign
Why treat this year like a mini-campaign?
Campaigns set out to raise a specific amount of money during a specific time period to achieve a specific purpose. Isn’t that exactly what you need right now? Campaigns also:
Create a sense of urgency
Energize your Board and top donors
Create matching gift opportunities
Dramatically increase giving
Clarify your needs - internally & externally
How do you get started?
Step 1: Clarify your goal and timeline. Did you loose $250,000 in event revenue? Do you need an additional $150,000 to create a virtual learning experience for youth who usually visit your museum? Be clear on what you need to raise - and when you need to raise it by.
Step 2: Identify your key supporters. These should include your Board members and major donors who have expressed their passion for your organization’s mission and who already trust you. You will include your mid-level donors and others in the second phase of your mini campaign.
Step 3: Create a Table of Gifts. See my “Ensuring Success” blog for instructions here. Consider using a visual with your top donors based on your Table of Gifts so they can see what it will take to succeed.
Step 4: Develop your messaging and a brief case for support or pitch deck. Make it inspiring and clarify your timeline, financial need, and mission impact of the specific fundraising goal.
Step 5: Talk to you top donors and board members first. It’s easiest to get the largest donations first and work your way down from there. Your biggest investors will want to be sure your charity succeeds! Also consider asking some of your top donors to do a matching gift challenge to inspire others to join the campaign.
This is a very short timeline, so there won’t be enough time to qualify and cultivate new supporters. Your focus for this mini campaign is on existing supporters who are already invested in your mission. Don’t stop acquiring new prospects, though. You will need them for future growth, but don’t count on them for this project.
Step 6: Solicit everyone you included in your table of gifts.
Step 7: Once your top donors have committed and you have at least 75% of your goal in hand, take this to the masses. Create an online and print marketing campaign to help cross the finish line. A matching gift challenge from high-level donors and Board members can be instrumental in success at this stage!
If you have any questions or need more creative ideas to increase your revenue or diversify fundraising, email me at hollisconsulting@icloud.com.