Relationship Between Events and Grants
Grant funding is part of a sustainable business model. However, funding for nonprofits’ strategic and operational objectives ought to come from a variety of sources, such as in-kind volunteer labor, major gifts, and corporate sponsorship.But there is one complimentary source of funding that should not be overlooked: fundraising events.
Fundraising events can be an exciting and effective way to supplement your grants, showcase your work and achievements, and to raise critical funds for your nonprofit, even if they are in smaller amounts than you obtain via grants. When done with careful planning, attention to detail, a lot of patience, and some good humor, events can simultaneously benefit your nonprofit, your volunteers, and the extended community. This is an important point. Events are more likely to engage the broader community in the work of your nonprofit, permitting local support, which out-of-town funders like to see are a part of your financial portfolio.
We recommend taking time at the beginning of event planning to set goals, evaluate resources, develop timelines, and manage expectations. During the process, adhering to your budget timeline, updating and revising it as you go, is also important. When it comes time to execute your event, ensure that there are no assumptions made, that you are not leaving until tomorrow what can be done today, that you are working as a team, remaining on-time and on-budget, and that you are ready for just about anything. And when the event is over, conduct a debriefing and evaluation so next year’s event can be an even bigger success.
Call us today to begin your journey from event-planning to possibility.