Fundraising is a crucial ingredient for the sustainability and success of non-profit organisations. It is a powerful tool to fuel their missions, expand their programmes, and make a tangible impact on their communities.
The need to equip non-profit organisations with fundraising knowledge is why Valcare hosted a training on this topic. Fundraising expert, Elsa Fourie, facilitated the training session alongside Patrick Schofield, CEO at BackaBuddy.
According to Fourie, some non-profit organisations view fundraising and proposal writing as a quick and easy process that requires little effort. However, it is an intricate and intense process that evolves and needs constant adaptation.
“The fundraising process requires a lot of attention and time. A lack of preparation can lead to negative feelings about fundraising. Organisations can gain much through planning, goal setting, and incorporating fundraising into their operational plan,” Fourie shared.
Here are seven tips on how organistions can overcome fundraising challenges.
Fundraising capacity building is vital to an organisation’s ability to attract donors, secure funding, and sustain its fundraising efforts. It gives organisations a better understanding of what is happening in the fundraising sphere, strengthening financial sustainability and broadening impact.
Collaboration and networking
Explore opportunities for collaboration and partnerships with other organisations, businesses, and community stakeholders. This can lead to opportunities where organisations can leverage collective resources, networks, and expertise to maximise fundraising efforts. Building strong relationships based on trust and mutual benefit is crucial for successful collaborations in fundraising.
Diversify funding streams
Diversifying funding streams is a strategic approach that helps organisations reduce their reliance on a single funding source and create a more sustainable financial foundation. By expanding the range of funding sources, organisations can mitigate risks associated with fluctuations in funding, changes in donor priorities, or economic uncertainties.
Embrace digital fundraising
Today’s world is increasingly becoming digital. Embracing digital fundraising allows organisations to reach a wider audience, engage supporters more effectively, and streamline the donation process. Remember to tailor your digital fundraising strategies to your organisation’s specific needs and target audience. Regularly monitor and evaluate your digital fundraising efforts to identify areas for improvement and optimise your approach over time.
Donor cultivation and stewardship
Building and maintaining strong relationships with donors, engaging with them in meaningful ways, and demonstrating appreciation for their support can lead to a strong culture of donor engagement and loyalty. Each donor is unique, and the key to successful cultivation and stewardship is building genuine, personalised relationships.
Storytelling and impact communication
Storytelling and impact communication are powerful tools for fundraising as they help donors connect emotionally with your organisation’s mission and understand the tangible impact of their contributions. Remember, storytelling and impact communication should be ongoing and integrated into your fundraising strategy.
Transparent financial management
Transparent financial management is essential for building trust with donors and ensuring their confidence in your organisation’s stewardship of funds. Donors who have confidence in your financial practices are more likely to support your fundraising efforts. You can establish trust, credibility, and accountability with your donors by prioritising transparent financial management practices. This, in turn, will aid in fundraising efforts and attract donors who value transparency in the organisations they support.
“Fundraising is a broad subject, but I feel like this training was tailor-made for non-profit organisations. I gained a lot and today’s tips will definitely help with our fundraising efforts,” Ashley Nyman, workshop manager at Drakenstein Association for Persons with Disabilities, stated.
Valcare Training for Non-profits
One of Valcare’s goals is to increase the effectiveness of non-profit organisations and empower them to succeed.
See the list of Valcare’s training topics and dates for 2023 here.