Sometimes fundraising can seem like such a daunting task, so how do nonprofits raise money? When you look at your network of people, you may have wondered why they aren’t giving to your organization. Of all the people you know, how do you get them to donate? To learn how to raise money for your nonprofit and become a better fundraiser, you’ll want to do 3 essential things:
1. Identify Your Donors
Take your current network of people, big or small. Out of those individuals, look at who is interested in your nonprofit, how much money they have to give, and how they are related to your organization. This exercise is a good way to identify your volunteers, your board, people who have given before, and individuals who simply love the idea of your organization but don’t want to be donors.
2. Progress Them Into Giving
It’s important to start by asking for small donations before progressively asking your donors for more. If you have a first-time donor and you aren’t sure how much to ask for, start with a low dollar amount so you can see if they are willing and interested enough to give to your organization. If you have regular donors who give throughout the year, suggest they set up recurring giving. And for donors who are super committed, willing to support your organization, and have a history of giving larger amounts of money to you, or may have the capacity to give more, make a special request for them to become one of your major donors.
3. Retaining Your Donors
Make sure you are retaining your donors because they will keep your organization stable for the future. Beyond knowing their names and ages, who are they to your organization? Are they one-time givers? Are they recurring donors? How invested are they in your mission? Find out so you can better manage those relationships. This also means thanking them after every time they give, no matter what. And make sure you are communicating with them so they know how their gifts are helping you accomplish your mission.