6 Keys To Chapter Fundraising
What are your chapter’s goals for this year? Is one goal to qualify every member for ICDC? Or maybe another is to host a few social events to keep your members involved throughout the year. Whatever your goals may be, it is likely that they will require money to make them happen. Often, the lack of funds can prevent chapters from attending or hosting events throughout the DECA season. Although it may seem impossible to come up with enough money to reach all of your goals this year, with some fundraising anything is possible!
Fundraising often has a bad reputation for being too hard and not producing the desired outcome. However, I invite you to restructure how you think of fundraising and follow the Six Keys to Fundraising. By following these keys and answering the questions, you will soon find yourself reaching your desired financial goals.
1. Answer the “Why”
- What is the purpose of this fundraiser?
- What are you fundraising for?
- What is your sales pitch?
- Why will your members, school and community support it?
- How will you address concerns of potential donors?
2. Choose the Correct Fundraiser
- What fundraiser suits the needs of your chapter?
- Sales: Sales of goods or products (involves start-up cost and members selling).
- Events: Activity with guest presenter or entertainment (potential for high profit, promotion is crucial).
- Direct Solicitation: Donors and sponsorships (less hands-on work, may not raise a lot in some cases).
3. Organize Effectively
- Create a fundraising goal
- How much are you hoping to raise?
- Create a budget
- What are your estimated expenses and revenue?
- Will you make a profit that matches or exceeds your goal?
- Set timelines
- Break down all of the major and minor details with deadlines to ensure success.
4. Utilize Teamwork
- Use the expertise of your members to host a successful fundraiser.
- Combine talents and resources to raise more money.
- Define responsibilities and clear expectations.
- Share specific, clear communication with your team and volunteers.
5. Take Action and Follow-through
- Member support (practice clear and consistent communication with your team, thank all members for their support).
- Don’t lose steam (be sure to stick to your pre-planned timeline).
- Thank your donors (thank-you letters are a great best practice after receiving a gift or donation)
6. Reflect and Analyze
- Evaluate the fundraiser
- Did you meet your fundraising goal?
- Did you stay on budget?
- Analyze the fundraiser
- What worked well?
- What did not go as planned?
- If you were to do it again, what would you add, subtract and keep the same?
- Congratulations! You just hosted a fundraiser!
- Make sure to celebrate your success!
Follow D’Andre on twitter at @decapresident.
Contributions by: The 5 Keys to Successful Fundraising By Sandra Sims of stepbystepfundraising.com