RAISING
MONEY AND FINDING DONORS
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ARTICLE
Learn
about raising money, finding donors, and getting needed funds and
donations.
FINDING THE
HIDDEN DONOR
Are you attempting to
raise money for a local charity? Were you asked to organize
the rummage sale, auction, charity walk or other special
event?
Typically, organizations
attempt to sell services or products to those who use or
need their services as a way to raise funds. That’s a tried
and true approach, but even better way is to increase your
fundraising power by finding the hidden donors.
HIDDEN
DONORS - RAISING
MONEY
Who is a hidden
donor? A hidden donor is any person, organization, club,
group or business whose goals align with those of your
organization.
How do you find the
hidden donor?
Step One
The first step in
finding the hidden donor is to be clear about why you are
raising money. Let’s say you are attempting to raise $8,000
to put new books into the town library for young readers.
You might think your goal is to buy books but your real goal
is to enhance the education of young people so they in turn
become better citizens, contributing members of society and
capable employees. When you begin to examine the goal
instead of the need, you will be able to see who the hidden
donors for your project might be. In the example of the
library book drive, you might find hidden donors are
institutes of higher learning, employers in the vicinity or
local professional associations.
Step Two
The second step in
finding the hidden donor is to think beyond those who use
your service to those who get a side benefit from your
service. If you offer a program of recreation or aid to
seniors, then their adult children are probably very
appreciative of what your program does and would most likely
be very receptive to giving to your organization. For this
reason, it’s important to keep not only the names and
addresses of those who use your services but also those who
are primary contacts of these individuals.
Step Three
A third step to gold
mining for hidden donors is to start a mailing list and
newsletter. Even if someone does make a donation, it’s
important to keep that person informed of your group’s
activities and programs. “Non-givers” are sometimes the same
people who make a substantial donation through a will or
insurance proceeds. Don’t overlook a small donor or a
non-giver. If these people don’t want to receive your
mailings, they’ll let you know otherwise consider them to be
invested and interested in your program.
In-kind gifts of
services, products or assistance can be as valuable or more
valuable than actual cash. Many hidden donors like to donate
in this way. A local restaurant might be willing to donate
sandwiches for hard-working volunteers. A musician might
offer his or her services for your next special event. Print
shops can offer to make brochures or fliers. There’s no end
to what you can do to reduce your budget and offset expenses
through inkind gifts. Just be sure to give your in-kind
donors the same kind of acknowledgement as is given to any
other donor.
Like most donors,
“hidden donors” may not be giving to your charity or service
program because no one has ever asked them to do so. Once
you start digging and discover who your hidden donors might
be, be sure to knock on their doors and request their help.
If you are clear about how your goals align with their goals
or needs, you will likely be surprised to learn how many of
these hidden donors are ready to give, and give generously.
To
teach and learn money skills, personal finance, and money
management, please go to the Money
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