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How To Evaluate a Fundraising Idea?

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Anonymous

15y ago
Updated: 11/10/2020

Any non-profit organization or group knows how difficult it can be to raise enough money throughout the year, but it is important to realize that not every fundraising idea is a good one. Every member likes to give their input and brainstorm with new ideas. Unfortunately, some of the potential fundraisers could end up costing more than they would actually make. It is therefore necessary for groups and individuals to learn how to properly evaluate a fundraising idea prior to trying to implement it or act upon it.

A solid budget needs to be created for every fundraising idea, so an important part of the evaluation process is determining how much the project will cost. The more expensive an idea is to implement, the more money that will have to be made in order to generate a profit. While volunteers can be used to reduce labor costs, some materials will have to be purchased if they are not donated.

In addition to determining how much money will be needed to use a fundraising idea, it is also necessary to decide what other resources will be required. Some ideas, such as a car wash, may require both water hookups and multiple helpers. Too many fundraisers fail due to the fact that there are not enough people available to volunteer, and failing to have enough workers on site could drastically decrease the chance of making a profit.

Any fundraising idea must be evaluated to ensure that it does not detract from the goal of the organization in any way. Charities and non-profits must always be sure that they are not taking any risks of offending any of their donors. For example, a bikini car wash is probably not a great idea for a children’s charity or one that has the purpose of promotion feminism. Any fundraiser must not conflict with the mission statement or purpose of the group trying to raise money.

Raising money is not an easy task, but there is no use in rushing into an idea and wasting time and resources. By taking enough time to carefully think out each fundraising idea, a group stands to be more successful with their efforts.

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Wiki User

15y ago

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