Discussion Question Response2 - Speed Assignments

Please respond to Question 1 and 2.

This is what i wrote:
The main goal of a fundraising strategy is to outline what the organization wants to achieve (goals), how to achieve these goals and mitigation strategies for potential risks. It helps the organization to monitor progress, maximize the potential of the donors, boost income, increase awareness, and ensure stability (Bray, 2019). When developing the strategy, four main factors are considered; the mission, budget, time, and tools. The first step is by outlining the fundraising goals based on the funds we need to sustain the organization. After the goals have been highlighted, the next step is to draft a budget to meet these goals (Bray, 2019). Drafting a budget will provide a blueprint of how the raised money will be used. This is by making a budget for a specific period of time, quarterly, annually, every six months, etc. Bray (2019) notes that the goals and budget should align with the organizations mission statement; such that everything budgeted for has a connection with the overall mission of the organization.
Second, outlining the tools, skills, and equipment to help in executing the goals of the organization. This aids in simplifying the fundraising strategy such that people can understand it and help in executing it. Through this process, the fundraising techniques are listed, for example, funding campaigns, mail campaigns, phone calls, fundraising events, social media campaigns, donation campaigns, grants, and matching gifts (Bray, 2019). After listing these events down, the next step is outlining the steps of undertaking the above activities. For example, training volunteers, developing a campaign website or hiring a social media campaigner. This should also include, expanding these activities to include tactics to attract more people. This process calls for the hiring of professionals and volunteers in each field to enable the successful implementation of each process (Bray, 2019). After highlighting these three factors, the next step includes dividing these plans into weekly, monthly, annual, or five-year plans. These plans are then organized on a calendar to help the organization stay on track throughout the period. The calendar acts as a reminder and includes all the steps to be undertaken in each season. Important dates and events are marked, and past events analyzed to understand how the organization is performing (Bray, 2019).
References
Bray, I. (2019). Effective fundraising for nonprofits: Real-world strategies that work. Work, 6th
Edition. Berkeley, CA: Nolo Law for All Publishing
ISBN-13: 978-1413326635 ISBN-10: 1413326633

Question 1. Toni

Fundraising for a nonprofit refers to the process for sourcing funds to support a charitable or nonprofit organization. A new nonprofit can fundraise funds via numerous traditional and digital methods, and engaging both corporations and individuals to provide multiple ways to donate. Fundraising serves as the primary method of nonprofits to raise revenue (Bray, 2019). There are several options for sourcing funds for profit; nevertheless, the are two key ways to do so, corporation and company fundraising or individual fundraising.

At the center of successful fundraising is a significant support case; one should begin by creating an engaging and powerful strategy as to why donors need to support a nonprofit organization’s mission. A good fundraising strategy for a nonprofit should explain regarding; the problem it needs to solve, the solution the nonprofit will offer to the problem, the difference it will make in the individuals lives, or the community if they succeed. What happens is the problem is not solved and why the given nonprofit is uniquely qualified in tackling the challenge or the problem. Most importantly of all, good fundraising should be simple, externally focused in a manner that is emotionally engaging and memorable. Planning and analyzing is the second step in deciding the funding source that a nonprofit will focus on. This involves establishing a mixed portfolio to avoid dependence on a single source of funds because it has a distinct trait. Each nonprofit requires different resource levels of resources to exploit them and possess different timeframes in delivering outcomes (Son & Yeung, 2018). It is very important to make a decision that makes sense for an organization by matching ones ambition to available resources. Some of the available alternatives are foundations and trusts where new nonprofit new to fundraising begins, by seeking grants from institutions that exist, particularly in grants. Locally, there is a broad range of firms in each community, for instance, groups, schools, and churches that raise funds for a nonprofit or alongside it.

When an individual understands which resources to approach for a given nonprofit, it simple to structure their fundraising. One might choose to establish a committee for fundraising, outsource a consultant, or employ a fundraiser. Long-term fundraising requires an individual to start building their building fundraising capacity early in advance. Research is a key step in identifying organizations and individuals that have a reason to support individuals, and the capacity to give at the level nonprofit requires resources. There is a need to determine how to reach out to every supporter. It is easier to begin while close leads or contacts, such as identifying senior staff, nonprofit board, and others, are likely to assist a new nonprofit in reaching potential donors by mapping their associations. Fundraising strategy only succeeds if a nonprofit asks for support with the foundations and trust, typically demanding a written proposal.

Corporates usually require an individual to pitch. There are numerous approaches for requesting people to organize a special fundraising event, asking them in the face-to-face setting and writing to them. All these require proper preparation; however, the more personal and tailored, the higher the chance to attain fundraising strategy success. Building long-term relations is key through effectively reporting to donors and thanking them for their contributions.

Fundraising software is one of the significant tools for fundraising. With the increasing giving across a nonprofit of all sizes, nobody can afford to lose out all the persons who are will to click the donate button, however, with alternatives ranging from single donation button accessible on the website to all in one software of fundraising. Plenty of donation forms permit firms to accept money, but most of them are not tailored for a nonprofit. Identifying a fundraising specialist or team is a good tool (Maqbool et al., 2019). Fundraising campaigns entail numerous moving parts. Despite the nonprofit engaging in the campaign, its advisable to appoint a small team or an individual to manage fundraising efforts. Individuals’ event donations tool ate a popular way of raising funds. Events are usually common peer-to-peer and individuals fundraising methods, which entails encouraging supporters to raise funds on behalf of nonprofit.

The most appropriate time to do fundraising is the end of the year, a time when most individuals donate towards their favorite causes. Understanding the above tools to utilize and how to pass the right fundraising message across, right timing to being a managing donation and start with ease (Weinstein & Barden, 2017). To enhance effectiveness, a nonprofit should incorporate compelling and interactive visuals into online content to increase audience donations and engagement.

Reference

Bray, I. (2019). Effective fundraising for nonprofits: real world strategies that Work, 6th edition. Berkeley, CA: Nolo Law for All Publishing

Maqbool, N., Razzaq, S., Ul Hameed, W., Atif Nawaz, M., & Ali Niaz, S. (2019). Advance Fundraising Techniques: An Evidence from Non-Profit Organizations. Pakistan Journal of Humanities and Social Sciences, 7(1), 147-157.

Son, J., & Yeung, D. (2018). Effective fundraising strategy.

Weinstein, S., & Barden, P. (2017). The complete guide to fundraising management. John Wiley & Sons.

Question 2. Randy

Fundraising for human service organizations requires innovation and commitment to source many donors and raise awareness of the people to commit resources to a specific noble cause. Different tools such as social media, fundraising events, and mobile apps are part of the emerging approaches towards raising the much-needed resources to reach organizational goals. The new online tools help reach a massive following and increased the population with access to social media platforms. There are innovative ways to raise awareness of the organization’s needs by creating an online contest or challenge that helps raise money (Maqbool & et al. 2019). A social media contest is a fun creating method of bringing more traffic and developing the organization’s awareness. Mobile applications are platforms that large human service organizations can use to update and solicit financial or material support from well-wishers.

Fundraising events are a new fun way of raising organizational awareness and raising funds while entertaining people. Fundraising events come in different shapes and styles, such as organizing a marathon run, standup comedy shows, music concerts, sports, and athletics, among many others. The entertainment events make it more entertaining to give and likely to appeal to many donors instead of spamming the people with emails requesting help. Such tools’ success depends on the agency’s ability to communicate and build strong interpersonal skills (Ahmed, 2017). The fundraising people must have strong persuasive skills, innovation skills, and the ability to influence. The fundraisers also need to become resilient to handle the challenges thrown their way and have strong project and organizational skills. The organizers must have adequate equipment such as the right digital gadgets, cameras, pamphlets, gift cards, prizes, and other equipment that make such events colorful (Bhati & McDonnell, 2020). The equipment will help create and produce content that inspires, motivates, and influences donors to give more to the organization’s noble causes.

References

Ahmed, S. (2017). Effective non-profit management: Context, concepts, and competencies. Routledge.

Bhati, A., & McDonnell, D. (2020). Success in an online giving day: The role of social media in fundraising. Nonprofit and Voluntary Sector Quarterly, 49(1), 74-92.