Fundraising 101: Setting Financial Goals

1 Apr

Before any financial goals can be set, your organization must first decide why you want to fundraise in order to establish a clear overall objective. In order to answer this broad question, consider these more specific questions:

1. Why does your group want to raise money?
Establish the motivation behind your fundraising efforts so everyone is on the same page.

2. What are your plans for the money your hope to raise?
Whether the profits will go towards uniforms, classroom equipment, a trip or a college fund, it is important to understand how the funds will be allocated to help set a goal.

Clearly stated financial goals
will give the fundraising program
a benchmark for success

3. How much money do you need to earn to meet your goal from question #2?
Now it’s time to set an achievable and measurable goal for your organization. If you are raising money to purchase equipment, it’s always a good idea to research the cost involved, including any
maintenance or repairs that may be necessary down the road. Be realistic and refer to your research to establish how much money you really need.

4. How much time will you need to accomplish your goal?
Most fundraisers will typically run for 2-3 weeks, but the choice is entirely up to your organization. Try to avoid running a fundraiser for too long, as enthusiasm may start to dwindle.

Having this discussion will give everyone in your organization a chance to contribute their input and make sure everyone is working towards one goal.

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