Need a good fundraiser? How about $10,000 in 10 Weeks?
So you have obtained your 501(c)(3), now what? Most nonprofit organizations find out that even with the tax exempt status donations do no not come quickly. Grants and major donors prefer to give to well established organizations who can demonstrate a record of success and self sustainability. Therefore, building your 501 C organizations capacity and income streams is essential to its ability to grow and get major donors.
The recommendation for most nonprofits at the startup stage would be to start fundraising as soon as possible. Fundraising can provide immediate income to help build your organization. Also, it is not considered a donation since the individual is getting a product or service in return. Therefore, this activity can be started even without receiving the 501 c 3 nonprofit corporation status. Many nonprofits do not like the idea of fundraising because it may involve a lot of work for a small amount of income.
However, a fast, effective and profitable fundraiser can be through corporate sponsorship which is one of the most profitable fundraisers for nonprofits. Unlike the typical individual donations of $5, $10 or $20, in which you will need to talk with thousands to generate a successful event. With a corporate sponsorship, management or board members can call on companies and share with them their mission, how they help the community and how companies can be a part of this. To improve your participation and success ratio, companies should have several levels of participation to fit their budget along with key benefits that can help promote the sponsors of the 501(c)(3).
There are many benefits in creating a corporate sponsorship program including generating funding for marketing, creating awareness for your brand, and it makes it easier to obtain donations and grants. this is a great starting point for nonprofits to obtain funding for their basics in starting up their new nonprofit organization and 501(c)(3).
Corporate Sponsorship can help your nonprofit flourish into anything you want it to be. The corporate sponsorship will assist your nonprofit in laying a solid foundation for future growth and sustainability. With these sponsorships it could help you generate the funding needed to invest in all the business fundamentals such as a website, branding, social media marketing, a strategic plan, and many more solutions that will help create more awareness of your services and needs.
Some ways to captivate corporate sponsorships would be to identify your demographics, develop strong marketing strategy, have a strong proposal, know your proposal inside and out, show great benefits in becoming a sponsor and follow up. Don’t be shy when trying to obtain corporate sponsorship, many companies are interested in showing their customers they care about the community and will jump at the opportunity to work with you.
Keep in mind this is a win-win. The corporation will gain recognition and the benefits could be endless, while the nonprofit is gaining donations and a start up for their new organization. This should be the first step after obtaining a 501(c)(3) to make the most of your Nonprofit.