From the course: Navigating Challenges in Nonprofit Management
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Develop a comprehensive fundraising strategy
From the course: Navigating Challenges in Nonprofit Management
Develop a comprehensive fundraising strategy
Several years ago, friends of mine ran a nonprofit that relied on an annual event for 90% of its budget. The event had always been successful, drawing hundreds of attendees each year. But as they prepared to open the doors to their gala, the devastating 1989 Loma Prieta earthquake struck, ruining the event in seconds. Their entire annual budget -- -- mostly dependent on one-time gifts that night -- -- was wiped out. From this tragedy, I learned the critical importance of diversifying fundraising. While I've never embraced the overly optimistic idea that fundraising should be called “funraising,” I do believe it can be a satisfying pursuit -- -- an opportunity to engage as many people as possible in your mission. There are plenty of fundraising strategies. In this lesson, I'll share two don'ts and three dos so you can ensure you have a comprehensive plan with innovative funding streams. First of all, don't see it as a burden. If you approach fundraising as a chore, you'll quickly lose…
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