Which Fundraising Events Bring in the Most Money for Nonprofits?

A very common “go-to” funding idea for small nonprofits is fundraising events.

Events are a great way to bring like-minded people together and have a good time in the name of your cause.

Some fundraising events are huge, drawing attendees and sponsors like moths to a flame. Other events are smaller, more intimate gatherings where guests are directly asked for money.

Both have their place and can be highly profitable.

You can raise money with all kinds of fundraising events like parties, galas, sporting events, concerts… and the list goes on and on.

With so many options, it can be hard to pick the right event for your situation.

So, how do you know which one will be THE ONE that raises big bucks for you? Or the one that’s easiest to organize and promote, practically selling itself?

In this article, we’ll be taking a closer look at three kinds of fundraising events that work for most nonprofits – community/fun events, heartstrings events, and signature events – and how to choose the right one for you.

But first, here’s a little bit about figuring out how to narrow down YOUR choices for fundraising events.

When you’re evaluating a potential fundraising event, don’t just look at the potential revenue. Consider how much time and energy it’ll take to make your event successful.

Pay attention to the donor/attendee experience, then weigh out the potential cost and get ready to PLAN, PLAN, PLAN!

You already know that every dollar counts in your nonprofit. That means spending money on an event can be a little scary.

You don’t want to spend more than you raise, and poor planning can turn an event into a budget buster that wastes your most precious resource – time and volunteers.

Those Tupperware parties, garage sales, and candle fundraisers? Unfortunately, they’re not going to sustain your budget.

Though they may be fine for a quick infusion of some cash, there are two downsides to them:

1. They really don’t do much to promote your brand, your cause, or your mission – which means you’re NOT reaching the level of awareness you need to grow your nonprofit.

2. They generally don’t establish any future relationships or revenue streams – which means you’re NOT going to have the donor base you need to grow your nonprofit.

Sure, your organization will get a handful of dollars for doing basically nothing. But is it really worth that $100 to promote and attach your name to Suzie’s multilevel marketing opportunity? (Probably not!)

Fundraisers are basically just sales anyway. They’re transactional by nature and not a good long-term solution for funding.

So why invest time, energy, and other resources into something that’s not getting you what you need or not getting you where you want to go?

When choosing events and fundraisers, it’s important that you look at the long game. Affiliating your organization with every random fundraiser will dilute your message, annoy your followers, and cheapen your brand.

I know sometimes it’s hard to say “no” to a fundraiser idea your volunteers or Board come up with. When you’re desperate for money, that $200 from a Buffalo Wild Wings night looks good!

But if you’re surviving on little fundraisers, you’ve got a bigger problem. Your revenue isn’t sustainable, and you’ll find yourself living from one fundraiser to the next and one event to the next.

It’s a hamster wheel you don’t want to be on.

That’s why it’s important to do ONE fundraising event each year, do it well, give it everything you’ve got, then move on to other kinds of fundraising.

And that’s where the RIGHT event comes in.

A well-run event can build MANY relationships within your community that’ll serve you well for years to come!  It can attract potential new donors and partners, keep your current donors close, sustain excitement about your cause, and build awareness in the community.

So, what’s the RIGHT event for your nonprofit?

The RIGHT event:

• Raises 10-20% of your annual budget.
• Generates at least 4-5 times what you spend to host it.
• Brings in dozens of new donors (or renews existing ones).
• Deepens relationships and draws supporters closer to your mission.
• Attracts corporate sponsors.
• Draws volunteers easily.
• Sells out every year.

Sound good?

Now, there are many KINDS of events, but they fall into two basic categories: the Community/Fun Event and the Heartstrings Event.

Community/Fun Events are widely promoted events that encourage people to do something active or fun while supporting your cause.

Participants usually pay upfront to take part, in one way or another. So you’re not asking them for a straight-up donation, even though you should educate them about your organization in some way and hopefully add them to your list of supporters.

These types of events can help you build community relationships.

People leave Community/Fun Events feeling good, and that’s good for you because they’ll likely talk about their experience for several days afterward – telling friends and co-workers what a blast they had!

Community/Fun Events are great for corporate sponsors, too.

A sponsor who provides monetary donations or in-kind donations, like services or a venue, can be listed on all the marketing materials…banners…bookmarks…t-shirts and so on.  Because these events often attract the community at large, the right sponsors are usually happy to participate.

The downside of Community/Fun Events is that they may attract lots of people who are there for the experience and don’t necessarily care about your cause. But if the event meets your goals for revenue and awareness, it might be ok.

Examples of Community/Fun Events include:

Heartstrings Events are more specific to your cause and are designed to attract those people who already care about your cause and your mission.

Typically, a Heartstrings Event has one main goal – to ask people for support. Point blank.

Attendees have either been invited by you or someone else representing your organization, or they have purchased tickets – which means they already care.

These attendees know they’ll be asked to donate, as it’s very clear that fundraising is the sole purpose for the event.

Heartstrings Events can range from small gatherings of potential donors to large gatherings in ballrooms, restaurants, or other venues.

A well run and enjoyable Heartstrings Event can pave the way for faithful donors who will support your vision long term.

A few events that fall into this category, listed in order of ease of planning and preparation:

Whichever event you choose – Community/Fun Event or Heartstrings Event – work to make it a Signature Event.

A Signature Event is a fundraising event that everyone in your community automatically associates with your organization.

This can be any type of event – golf tournament, gala, walk, etc.

As long as it generates lots of buzz in the community both before and afterward, and brings in the results you want, it’s a Signature Event.

Over time, it should become something that donors, volunteers, and community look forward to.

This is the fundraising event that people anticipate! It’s easy to promote and easy to sell out.

So, once you decide on the right event for your nonprofit, start working to make it a Signature Event.

Create a committee of movers and shakers from the community to work on the event.

Cast a vision for the event.

Set goals.

Go after sponsors.

The more clear you are about the event and the more planning you do, the more likely you’ll be to hit your revenue goals with your Signature Event.

And when you focus on ONE Signature Event, you can stop doing all those other little fundraising events – freeing up time and energy to focus on other areas of fundraising.

If you’re a new nonprofit or new to fundraising and have never planned a fundraising event, no worries! We’ve got you covered.

Head on over to our blog article Your Complete Guide to Planning Your First Special Event where we give you all the steps you need to follow to host your first one.

When it comes to events, start with one Community/Fun Event or Heartstrings Event (whichever one you decide to go with), and do that one again and again until it grows to become your Signature Event. Don’t rush things.

And don’t expect this to happen overnight. But certainly make it a longer term goal.

Surrounding yourself with a fantastic event committee will help out tremendously – plus, you won’t have to shoulder everything yourself.

How about virtual fundraisers? You may ask.

Gathering face-to-face remains the best way to engage new donors and inspire current donors to give more. But, for many reasons, a virtual fundraiser event may be just the right choice for your organization.

The cool thing about virtual fundraisers is that they allow people to participate regardless of geography, which means lots of people can get involved!

That said, virtual fundraising requires more creative thinking to pull off.

It’s harder to create a fun event when everyone is sitting at home in front of their computer.

It’s harder still when so many people have Zoom fatigue.

But with so many success stories out there, it’s clear that virtual fundraisers can be just the right thing at the right time for the right organization.

To further explore virtual fundraisers, head on over to our blog article 12 Ideas for a Virtual Fundraiser or Online Event.

There are LOTS of ways to raise money, including fundraising events. Choose an event that maximizes the skills and talents of your volunteers. Also, pick one that sounds like fun to you because the planning and execution will be easier if you’re enjoying the work.

Don’t fall into the trap of quick-fixes – you can hold online fundraisers periodically to fund urgent needs, but don’t rely on them for a long-term solution.

Choose the right type of fundraising events for your nonprofit and get ready to put your organization’s face out there in the community, attract new donors, and raise lots of money!

Which Type of Fundraising Event is Best for your nonprofit? https://www.classy.org/blog/which-type-of-fundraising-event-is-best-for-your-nonprofit/

How to Create a Signature Fundraising Event https://www.dojiggy.com/blog/signature-fundraising-event-ideas/