How to Leverage Your Fundraising Expenses Through Sponsorships and In-Kind Donations
Our blog this week discusses some tips on how nonprofits can put as much money as possible back into their organizations to cover fundraising event costs. An event like a Derby Duck Race can be time-consuming and the last thing a nonprofit wants is for all the money raised to go into covering costs and expenses.
The idea is to leverage the expenses associated with hosting your Derby Duck Race. To do this, the best way is to secure as many sponsorships and in-kind donations as possible. Partnerships with sponsors and local business not only benefits your organization but also the donator’s company as well.
Sponsors can underwrite your entire fundraising event or a major portion of it, all while creating enormous exposure for themselves. The key to getting a major presenting sponsor is to find ways to get them as much exposure as possible. Exposure could include press releases, email blasts, signage, logos on marketing collateral, and your Equack website. Another way is to create a new event and have one company be the sole sponsor for it. This not only creates buzz for your fundraising event and creates maximum exposure for your sponsor, but helps leverage your expenses.
Another way to leverage expenses at a fundraising event is by creating relationships with business owners in your community. Securing in-kind sponsorships will help with expenses. In-kind sponsorships are payments of goods or services rather than cash donations for your event. If you run a fundraiser that is tied with an event, getting food or prizes donated allows you to put more money back into your nonprofit. After all, the idea of working hard on a fundraising event is to raise money for a good cause, not to pay for expenses.
Be sure to check out our blog post How to Secure Sponsorships for your Derby Duck Race for more information on securing sponsorships.