10 Ways Nonprofits Raise Money
If you run a nonprofit or are thinking of starting one, you may be wondering what ways nonprofits can raise money. For nonprofits, raising money for operations and programs is an ongoing concern. Especially if you are a newer nonprofit, your organization may be struggling to gain traction when it comes to obtaining funds. In this article, GrantWatch.com is providing a list of 10 ways nonprofits raise money.
It is important to have various sources of money for your nonprofit. Therefore, if one source dries up, there are other income streams available. This is especially true in a society that is experiencing big shifts. Some common sources for raising funds for nonprofits are memberships, sales, donations, fundraising, events, raffles and grants. One way to find grant money for your nonprofit is by searching a grant database such as GrantWatch.
10 Ways Nonprofits Raise Money
Trade association memberships are a good source of funding. In this case, members pay a fee in exchange for certain membership benefits. Then, monthly, quarterly or annual dues are collected.
2. Online Fundraising
Next, holding fundraising activities also raises money. Some nonprofits raise money through online crowdfunding sites or social media.
3. Offline Fundraising
Additionally, offline fundraising personally connects you with your donor base. Special events are held for which people pay for admittance. There is usually some form of entertainment, food or activity involved.
In addition, many organizations rely on donations from private and corporate sponsors. Nonprofits solicit donations in various ways, including online, in-person and mailing campaigns.
5. Recurring Donations
Establishing recurring donations provides an ongoing revenue stream. This type of donation is where donating occurs at regular monthly, quarterly or annual intervals. Donations are also usually automatically deducted from donor accounts.
6. Charity Events
Additionally, charity events provide great public exposure, from galas and golf days to seminars and workshops.
7. Raffles & Auctions
In addition, raffles and silent auctions are a perfect option for getting people to donate both their time and money.
Selling merchandise can also be a great way to bring in additional funds. This can include ribbons and badges, or unique ideas such as cookbooks. Maybe you have spare office space. Why not rent or sublet it to bring in money on the side?
Of course, sponsorships are another way nonprofits raise money. You can sell event tickets or advertise for an event as a way to gain sponsorship from individuals or businesses.
10. In-kind Donations & Grants
Finally, applying for grants is a common way that nonprofits raise money. Grants can vary in size from a few hundred dollars to awards in the millions. GrantWatch is a database that many nonprofits use to find grants for their nonprofits.
As you can see, there are multiple ways your nonprofit can raise money. GrantWatch also has many grants listed for nonprofits and several grant categories of interest, including Community Services, Operating Support and Quality of Life Grants.
With close to 8,000 grants currently available, GrantWatch.com is the leading grant listing directory. Upgrade to a MemberPlus+ subscription to view full grant details, including eligibility criteria and application information. For more information, you can also visit the GrantWatch FAQ page.
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