Budgeting is an integral aspect of a fund-raising event, and will help you organize your finances. This way, you can be more successful in raising much needed funds. This will help you avoid unnecessary costs, and ensure that your funds raised will more than offset your expenses. This involves planning and using resources wisely.
Plan your fundraising event itinerary.
Make a definite time-line, and finalize your event’s location and expected attendance. This will be important especially if meals are involved, as you know exactly how much the venue will charge you. Additional expenses will include gratuity, corkage, and other logistics, like tables and chairs for the venue. You must know the exact number of the people who will attend, so you know how much you can budget for each person.
Make a list of your incidentals.
Determine beforehand all the materials that you need for the fundraising event. This would include door prizes, decoration and snacks. If your fundraising event involves a contest, then you should already budget for the cost of prizes. Otherwise, you can ask for sponsors to donate prizes or gifts.
Make an outline of your publicity needs.
Be sure to have a lot of pre-event publicity. Make sure that this will include fliers, mailings and advertising. This will involve some cost, especially if you intend to advertise in the media, like TV or newspapers. To save on money, you can try to guest on relevant radio or TV shows. Or, you can send free tickets to celebrities. If they can talk about your event, then more people will get interested.
You can also make use of public service programming and services by radio, TV and leading newspapers. Send representatives on these shows to promote and explain the details of the fundraising event. This can help you get donations from local businesses in your area. Some might not be willing to give cash, but you can avail of other services that they may be willing to donate such as discount coupons, food, equipment, and the like.
Approach the owners of business establishments in your area who are willing to help. You can also solicit funds from private individuals. Contact owners of companies and businesses that are willing to help. Send your solicitation letters to company heads explaining the nature of your fundraising event. Make phone calls for follow ups. Get them to commit their donations in advance. You can include a reply sheet in your letters or emails, to be signed by the business head confirming their desire to shell out the exact amount or donations of goods and services that is coming in.
Determine your budget.
Add up your sources of revenue, including projected ticket sales, pledges, and in-kind donations. From this, you can determine the amount of cash, goods and services you can use in your budget. Avoid spending more money than the amount of money that you expect to make. Cut back on expenditures as much as possible. Use freebies while you can.
Having a good fundraising plan will help you become successful in your fundraising event. Stick to your plan and stay within budget. Also avoid spending too much on incidentals. Having an updated list of expenses for incidentals will help you to keep track of your projected expenses, so that you can avoid going overboard the expected funds.
Keep in mind that the more money keep from your fundraising event, the better. You should therefore be mindful of your expenditures, to maximize your money.