Some people mistakenly believe that money is less important for nonprofits than conventional organizations. But funds are just as important to a nonprofit. After all, nonprofits have operational expenses such as rent, energy bills, and salaries. If nonprofits want to attract top executives, then they must also pay competitive salaries and need the nonprofit fundraising to support it.
Moreover, nonprofits need money to develop their brand, advertise, and take advantage of growth opportunities.
However, nonprofits can’t generate revenue through conventional means due to their nature. Instead, they must think outside the box to raise funds. Here are some interesting nonprofit fundraising options:
Nonprofits located in certain countries may also benefit from international grants for nonprofits. Competition for these grants is usually stiff. The process can also be lengthy. But the funds can be enough to support a nonprofit for a year.
Nonprofits should look to partner with entertainment venues in their communities. Entertainment events such as plays, movies, and comedy nights where a percentage of the ticket fee is shared with the nonprofits are excellent fundraising options. Nonprofits can also use such events to augment their brand. For instance, they can promote their mission statement before or after the event to the audience.
People love to walk or run for their favorite causes. Nonprofits can use their influencers and staff to organize marathons sponsored by local businesses. Livestreaming these events can also help raise money online.
Nonprofits should have their websites with donation buttons ready to take advantage of charity marathons.
These are six ways nonprofits can raise money. With enough research, hard work, and networking, nonprofits can raise their revenue volume.