targeted fundraising

With a targeted fundraising strategy it is a good idea to have a range of potential projects ready to go if the funds are raised.  Prior to developing a targeted fundraising strategy there are a number of steps that should be addressed.  These include:

  • Do an analysis of what areas or opportunities exist that could benefit from a targeted fundraising strategy.
  • Develop a list of projects and prioritise based on their importance as well as likelihood to attract donations.
  • If your organisation has competition, then try to identify a different aspect of the project that can be focussed on.
  • Prepare a business case for each project that includes, for example, key outcomes and objectives, an action plan, what equipment and resources may be required, what staff may be required, timelines and a budget.  Initially this does not need to be very detailed but more high level as once there is interest in the project then more specifics can be prepared.
  • For each project identify the best way to raise the donations.  For example, some projects may be suited to lots of small donors whereas other projects may be more suited to a small number of large major donors.
  • Corporate donations are a great way to raise funds so try to identify businesses that may have an interest in the project.  Also, some businesses may be able to offer or donate equipment or resources instead of cash.

These are just some of the main steps to focus on but one critical point is to provide regular and ongoing updates.

As discussed in Part 1, a benefit of targeted fundraising is that funds can be raised and accumulated over time.  Therefore, it is critical to keep donors informed of the progress and how much has been raised.  In addition, once funds have been raised and the project has commenced, continue with the updates as that also highlights the accountability of the organisation and that the funds have been used as intended.