Does your nonprofit rely one type of fundraising to bring in revenue or is it diversified? For example, a diverse fundraising program would include direct mail, telemarketing, foundation grants, online fundraising through email appeals, your website, social media, etc. Crowdfunding and Giving Days can be helpful too. In fact, we just shared 12 Giving Day tips you should know.
If you feel that your nonprofit can do a better job of disversifying its fundraising check out this infographic, which digs into where money is coming from, how it's being donated, and the importance of providing a variety of options for people to give.
We've pulled out 4 key points that will help your nonprofit to fundraise even better:
Don't discount the individual. While lots of foundations give grants and corporate giving can be helpful, the individual donor is still going to be your biggest money-maker in most cases. On average, 72% of nonprofits get their funding from individual donors.
Annual gifts trump one-time gifts. A one time gift of $103 (the average amount of a one-time gift) sure sounds a lot better than a monthly gift of $10, but that monthly gift will have much more of a lifespan as you will get it year after year and if these sustainers are cultivated properly they will increase their gift size. Plus, an average recurring donation is actually $32, or $384 annually.
Don't rely solely on crowdfunding campaigns or sponsorships. While crowdfunding and sponsorships can be effective in the short-term, they aren't necessarily sustainable means of income. Make sure that you have other revenue sources that allow you to continue your day-to-day work effectively, and without panic.
Major gifts don't happen without effort. Even the wealthiest donors won't just give a major gift if you haven't cultivated, engaged, and moved them up the ladder of engagement. Communicate regularly with prospective major donors without bombarding them - find that sweet spot.
What are ways you have diversified and varied your fundraising efforts? What's worked well, and what growth have you tracked?
Check out the full infographic here.