What are the most profitable fundraisers for nonprofits? 4 Fundraising Event Ideas
Fundraising is a crucial function of any nonprofit organization. After all, fundraising is how many of these organizations stay afloat, which is why the profitability of these fundraising events is such a big concern. But what are the most profitable fundraisers? The ideal fundraiser has minimal upfront costs but an enormous profit margin. To achieve this, nonprofits rely on donations, volunteers, and goodwill from their communities. The following are a few fundraising ideas that you can try for yourself.
Golf might be an expensive hobby, but a golf tournament fundraiser doesn’t have to be. Some golf courses might have special deals for nonprofits who want to rent out their course. Heck, some owners might even donate their course for a day to support you if they really believe in your cause. It doesn’t hurt to ask.
There are many ways to fundraise with a golf tournament. First, charge each tournament participant an entry fee. You can allocate a certain sum of money, or a percentage of the earnings, to the winner(s) of the tournament to keep things interesting. You can also sell refreshments to attendees, have local businesses sponsor the event, and host other revenue-generating activities like 50-50 raffles.
There are so many 5k and 10k races that support various charity and nonprofit organizations, and for good reason. They raise a lot of money and don’t cost a lot to put on. Here are a few steps you can take to begin planning your race fundraiser.
While planning a race probably isn’t the most difficult fundraiser to organize, you can gain some helpful insight from somebody who has done it before. Ask this person questions, but be mindful of their time. Here are some common questions you should ask:
- How can I best promote my race?
- How do I create a fun, supportive atmosphere?
- Should I insure my race, and if so, what considerations should I make?
- What other tips do you have?
You can also join a Facebook group for race directors and ask your questions there, or simply absorb information by reading other discussions.
First things first, you should pick a theme and a name for your race. Your theme can reflect a fun element of your race, such as a color run. Your theme can also simply be seasonal. One famous example is the Thanksgiving Turkey Trot. Once your theme is determined, come up with a catchy name that will make people want to participate.
Now it is time to select a date, map your race course, and recruit volunteers. Most importantly, you need to set a budget for your event. This budget should include traffic permits, post-race refreshments, marketing, and merchandise. Estimate the costs for each of these and compare that to the amount you are willing to spend. You may find that you have extra budget to spend and can make further investments. You may also find that you need to cut costs. If so, consider lowering your marketing budget and encouraging other members of your organization to promote your event by word of mouth.
What is more fun than taking some time to learn something new? More and more nonprofits are turning towards selling knowledge to meet their fundraising needs instead of physical product. Two of the most popular fundraiser events are Art and Cooking classes.
Art classes are a fun way for your nonprofit to raise funds. It is quite simple, actually. You can start by reaching out to a local artist, or a local university with an art department, and ask them if they are willing to host an art class in which they will teach attendees how to create a piece of art. In most cases, the class will all create the same piece, usually a painting of some sort. If you want to make the class extra fun, serve wine and cocktails. This will give your guests the liquid courage to create some great art. Be sure to fairly compensate the artist for their time. You can pay them a portion of the proceeds, or give them the opportunity to sell their art to your guests.
The way you plan and run a cooking class is very similar to how you would plan and run an art class. Begin by reaching out to a local professional chef. This could be at your favorite fancy restaurant. You can also reach out to a local culinary arts college to see if anyone would be willing to devote some time to help you. Offer them the opportunity to sell their cookbook, or offer a coupon to their restaurant. Make it worth their time. Have the chef teach a class on how to create a dish that is simple enough for even the most novice cooks, but still delicious of course.
Food Truck Events
If cooking isn’t an appealing option for you, just have somebody else do it. In fact, you could have the best food vendors in your area get together for an amazing fundraising event. This kind of event makes it easy to raise funds while also generating revenue for the food trucks. You can usually find local food trucks with a simple Google search. When you reach out, be sure to mention how they can benefit from participating. You can sell tickets for the event. Each ticket represents a dollar value that can be used to purchase food and beverages from the truck. At the end of the night, pay the vendors for their food sales and collect the margin. Simple!
Branding Your Fundraising Event
No matter what type of fundraising event you choose to put on, it is important that you add a level of admission verification to your event. The easiest way to do this is through custom wristbands. Our bands make it easy to quickly verify your guests because you get to customize them to fit your brand.
For single-day events, we recommend using Tyvek wristbands. These are durable, comfortable, and perfect for indoor and outdoor use. The best part is that they are cost-effective, so you can allocate more of your budget toward putting on a great event.
For multi-day events, we recommend giving vinyl wristbands a try. These bands can last for weeks and are guaranteed to stay on your wrist. We also offer tabbed wristbands which are often used for events that serve food and beverages. Your guests can simply tear off a tab and redeem it for refreshments.
Don’t worry, we have your back. If you have further questions about how our wristbands can be used or how to customize the perfect wristband, we have experts on standby who are ready to provide support as needed! Simply select the Chat Now button in the bottom right corner of your screen.