A Quick Test for All Fundraising Events
Events are a popular and fun way to raise funds for an organization. The truth is that they can be an expensive way to do so.
Before you commit to a fundraising event, make sure you ask these three questions:
1) What is the realistic amount that we will net from this event? Be sure to include ALL expenses and to be conservative in estimating sponsorships and attendees.
2) Do we have the bandwidth in terms of staff and volunteers to put on this event? If you don’t have the internal staff to handle an event and will need to hire an outside event coordinator, planner or additional staff of any kind, be sure to add this to the expenses.
3) What is the opportunity cost of this event? By doing this, what are you not going to be able to do because you won’t have time or staff? How many of your potential “asks” are you using for this event and is this the best way to maximize their giving potential?
These three simple questions can save your organization a lot of time and disappointment. Don’t be afraid to stop and ask!