Being a board member for a nonprofit organization means that you will likely be called upon to assist with fundraising. While it may be easy to write a check, the organization benefits greatly from fundraising. In addition to raising capital, fundraising also increases awareness about the nonprofit’s mission. Fundraising may also generate non-financial assets for the organization in the way of volunteers and donations of goods and other items. In the blog below, our South Carolina business attorneys review tips that can help your board members become successful fundraisers.
Fundraising 101 for Nonprofit Board Members
Eight tips that can help you become an effective fundraiser as a board member for a nonprofit include:
- Education Board Members — Fundraising is a learned skill. Some board members may not be as effective at fundraising because they have never learned these skills. Share fundraising ideas with other board members. Consider hiring an experienced professional to train board members on fundraising techniques.
- Set Quarterly Goals for Fundraising — Fundraising should not be a “one and done” annual event. Instead, set quarterly goals for fundraising to encourage board members to engage in fundraising throughout the year.
- Set Up a Fundraising Committee — Choosing the best fundraisers on your board to sit on the fundraising committee. The committee can help train other board members and help them improve their fundraising skills, in addition to planning key fundraising events.
- Seek Donations for Silent Auction — If you are unable to host a large event, ask your friends, family, and associates to donate items for a silent auction.
- Contact Past Donors — Obtain a list of lapsed donors from the organization. Some people who have donated in the past may have gotten busy and forgot to donate again this year. A call or letter may be all it takes to renew the contribution.
- Cash in on Favors — When someone asks how they can return a favor, give them a pre-printed donation card and request that they donate to the nonprofit as a way to return the favor.
- Develop an Event Follow-Up Plan — Holding a successful fundraising event is just the beginning. You need an event follow-up plan to ensure that all donations are received. Also, connecting with event attendees after the event can help encourage them to make additional contributions and possibly work to raise money for the organization on their own.
- Ask for Matching Donations — Contact companies and business owners that you know and ask them to match donations for a specific event or period. For example, a company may agree to match donations to the nonprofit made by its employees or match a percentage of the profits raised by a specific event held to benefit the nonprofit. Companies can place maximums on their matches to help them feel more comfortable and willing to participate.
Contact Our South Carolina Business Attorneys to Discuss Your Nonprofit
Our South Carolina business attorneys work closely with nonprofit organizations on numerous issues, including fundraising. Schedule a consult today. Before you embark on a fundraising activity, seek legal advice from an experienced business lawyer to ensure you comply with all state laws and regulations for fundraising in South Carolina.