A fundraising plan is a document that details the actions your nonprofit will take to raise money. The process of creating a fundraising plan can seem daunting, but it doesn’t have to be. By following these seven steps, you can develop a comprehensive and effective fundraising plan for your nonprofit.
1. Define Your Goals
The first step in creating a successful fundraising plan is to define your goals. What exactly does your organization hope to accomplish with its fundraising efforts? Perhaps you want to raise a certain amount of money, or expand your donor base, or increase donations from existing donors. No matter what your goals are, make sure they are specific, measurable, achievable, relevant, and time-bound (SMART). This will help you track progress and determine whether or not your fundraising efforts are successful.
2. Develop a Strategy
Now that you know who you want to target with your fundraising efforts, it’s time to start thinking about how you’re going to reach them. There are many different options available to nonprofits when it comes to fundraisers (events, donation drives, crowdfunding campaigns, etc.), so take some time to explore what makes sense for your organization and aligns with your goals. Once you’ve selected a few potential options, it’s time to start planning in earnest!
3. Set a Budget
An important part of any fundraising effort is setting a budget—without one, it’s difficult to track progress and ensure that you’re making the most of every dollar raised. When developing your budget, make sure to include both income and expenses (staff salaries, marketing materials, event costs, etc.).
4. Get Buy-In from Your Team
In order for any fundraiser to be successful, it’s important that everyone on your team is on board with the plan—after all, it takes a lot of hard work to make a fundraiser successful! To get started, sit down with your team and explain the goals of the fundraiser and what their roles will be in supporting those goals. Be sure to answer any questions they may have and address any concerns they may have upfront; this will help ensure that everyone is on the same page from the very beginning
5. Implement Your Plan
With everyone on board and excited about the upcoming fundraiser , it’s time put all those hours of planning into action! Be sure to stay organized throughout the process and keep track of deadlines , tasks , and progress made toward meeting fundraising goals . Additionally , don’t forget t o keep lines of communication open with all members of y our team; if something isn’t working out as planned , let them know as soon as possible so that adjustments can be made .
6. Identify Your Potential Donors
Once you have defined your goal, the next step is to identify potential donors. These can be individuals, businesses, or foundations who have an interest in or connection to your nonprofit’s mission. To identify potential donors, you can conduct research, consult with your board of directors, and use online tools like Google AdWords keywords planner.
7. Create a Donor Prospect List
Once you have identified potential donors, the next step is to create a donor prospect list. This list should include contact information for each donor prospect as well as a brief description of their relationship to your nonprofit. This list will be used to solicit donations from potential donors.
For nonprofit organizations, developing a donor prospect list is an important step in securing funding. There are a number of ways to create such a list, but the most effective method is to start with your organization’s current and past major donors. These individuals have already shown an interest in your work, and are more likely to be receptive to a solicitation for additional support. You can also use publicly available databases to identify potential donors who live in your area or who have made donations to similar organizations in the past. Once you have compiled a list of potential donors, you can then begin the process of outreach and solicitation.
8. Research Your Donors
Before you begin soliciting donations, it’s important to do your research on each of your potential donors. What are their giving histories? What causes do they support? What is their capacity to give? By researching your donors, you’ll be able to tailor your solicitation process and maximize the chances of success.
Compile this research into donor profiles that can be referenced when soliciting donations.
9. Develop Your Solicitation Materials
The next step is to develop solicitation materials such as a case for support or donor packets. These materials should articulate the need for funding and explain how donations will be used. They should also include information on the benefits of giving and how donors can make a gift. Make sure to design these materials with your target audience in mind and keep them consistent with your organization’s branding.
10. Train Your Solicitation Team
Now that you have all the materials you need, it’s time to train your solicitation team. This team will be responsible for making direct asks of major donor prospects. Before they start soliciting donations, make sure they are familiar with your organization’s mission, goals, and historical giving levels as well as the specific needs that donations will help address. They should also be familiar with the solicitation materials and know how to answer any questions that prospects might have about giving. Finally, provide them with some role-playing opportunities so they can practice their pitch before meeting with donors face-to-face or making phone calls.
11. Practice Making Asks
Solicitation isn’t easy; it takes practice to perfect the art of making an ask without coming across as too pushy or desperate. The best way to practice is by role-playing with members of your solicitation team or by asking friends and family members for small donations (i donation amount here). With enough practice, you’ll hone your skills and become more comfortable making asks in person or over the phone.
By following these seven steps, you can develop a comprehensive and effective fundraising plan for your nonprofit that will help you achieve your fundraising goals. While creating a fundraising plan may seem daunting at first, if you take it one step at a time, it becomes much more manageable—and the results will be worth it!
