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“Luck is what happens when preparation meets opportunity.” – Seneca

Planning is a key part to running any successful business. It is a best practice to create a plan for how your organization will acquire funds to operate its programs. There are different types of ways to raise funds for your organization. For a brief overview check out my blog on fundraising mix: Don’t Pull All Your Eggs In One Basket.

Knowing the different types of fundraising methods is only part of it. Not all methods fit every organization. You have to discover what methods work best for your organization. In other words, how will you combine the different funding sources into a strategy to raise funds for your organization? There are many ways to do this. Below is a list with a few pointers to get you started on creating a fundraising plan.

1. Establish Goals – how much money do you need to operate your nonprofit? How many new donors would you like to attract? How many events will you host?

2. Conduct an Asset Inventory:

Board Asset Inventory- what do your board members have to offer? Do they offer connections and networks to major businesses or individuals? Do they have marketable skills that are related to your mission?

Organizational Asset Inventory – what resources are already present within your organization? If earned income was considered as part of the strategy, can the organization structure support running an enterprise along with its programs?

3. Analyze History – what activities were successful for your organization in the past? What grants were you qualified for that you can apply for in the upcoming year? What are other nonprofit organizations similar to your organization doing that is successful? Are they soliciting a lot of individual donations? Are they successful with obtaining a lot of grants? What are some of the foundations that support their work?

4. Create a Plan – The plan does not have to be a long narrative, but it does need to be clear as to who is responsible for what activity, when is each activity, and what is the projected income from each activity. One way is to create a calendar. The calendar should include each month, a list of activities, the person responsible and the projected income from each activity.