Tips to Maximize your Fundraising Efforts in Times of Economic Uncertainty

What you can do to get donations during tough times.

Why do you do fundraising? Is it for your own gain of for noble causes—or both?

Many people who participate in fundraising causes do so because the cause they support is close to their heart in some way. Maybe they had someone close to them die of heart disease or stroke, maybe there are a survivor of breast cancer. Or perhaps they participate in fundraising so their children can play sports, or so they can feed and house those less fortunate in the community.

Regardless of why you fundraise—you do, and you probably take delight in the knowledge that you are helping someone or many in their time of need. Dollars and cents might not be so vital to you, as you are getting so much more from your fundraising efforts. However, in times of economic strife, it’s the nonprofit fundraising organizations that need every dollar and cent to keep operations and valuable services going.

The current turbulent economy has left many nonprofit fundraising organizations in dire need today. Slashed budgets and layoffs are starting to become commonplace in many industries—the philanthropic community at the top of that list. What’s worse is that economic uncertainty and stress to stay afloat leads to organizational stress, which draws the focus away from the fundraising mission to the job of simple survival.

It’s a trickle down effect—as fundraising campaigns bring is less money and charity events attract fewer willing attendees nonprofit organizations begin to slash and cut down on events that bring in the donations. And as folks worry about their own financial well-being, fewer volunteer their free time to charity or even give when approached in a door-to-door campaign. Even the largest and most dependable donors—the corporations, foundations and wealthy individual givers—can sadly not afford to make as generous a contribution as they did in the past because they are worried about their own financial security. What it comes down to is the same amount of charity organizations competing for a smaller piece of the fundraising pie.

Yes, times ahead will be tough, but that doesn’t mean business as usual. Instead use this uncertain economic time to your advantage. Take the time to re-evaluate your fundraising goals and strategies for the year. How do you do that? If you want to survive you must adapt to the current economy.

Maintain Donor Relationships

Don’t abandon donors who have proved to be a steady stream of donations in the past. Now is not the time to give up on your loyal contributors. Donors may not give as much this year, but they may still want to give. Think of it from their point-of-view. If you just give up on your donors and don’t bother approaching them this year for fear they will say no, they might actually be thinking that you don’t need their charity. The result: they will give to a fundraising organization that appears needy.

Show Appreciation Regardless of the Donation Size

Many small local non-profits, and even large successful charities, have survived by maintaining their solid connections before and after economic uncertainty, even when potential donors are unable to give financially. Take Ronald McDonald House for example, in their privacy statement they claim to collect personal information for in order to "thank donros for their financial support" and to "establish and maintain harmonious donor relationships."

Prove your commitment and trustworthiness

By showing your donors where their donated dollars are going. You can easily do this by proving your ability to use their gift effectively right in their community. The truth is that when times are tough; fundraising causes of interest shift from a worldwide basis to a community basis. Many contributors would rather see their fundraising dollars at work in their own community.

Try Innovative Fundraising

When approaching corporate donors, make sure its clear that you are not just looking for a monetary handout. Instead, if they can’t give a financial donation (or only part), offer to work with them in other ways. How?

Do they have facilities? Ask them to host a benefit or event.
Do they offer services? Ask them to offer them at a lower cost in your organizations name, and ask for 10% of profits.
Do they have outdated products? Ask them to donate old models and split the sales 50-50.
Do they have willing employees? Ask them to donate volunteers to help with your fundraising efforts.

Think of it this way, it’s better to have support (financial or other), as opposed to none at all.

Be Prepared for when Times Improve

The thinking should be “let’s build relationships now”. This way, when the economy improves your organization has a list of donors that they know they can count on for established streams of donations. This also says to contributors “we depend on you and appreciate your support regardless of what or how much you give”, and laying this ground work will prove successful as they will be more willing to give larger donations when the economy improves.

Look to other Potential Donors

In times of real need, non-profits look to the government for help. Unknown to many smaller grassroots organizations, there are federal and provincial grants and monies available—such as the 50-50 match (the government matches given donations). Do your research to see if some of your charity events and programs are eligible for support as a nonprofit, government supplemented charity.

Don’t Give up on Charity Events

In hard economic times, the first thing many charities do is cut their events. However, these are valuable networking opportunities where loyal donors are thanked for their contributions and potential donors can meet and greet your volunteers and learn more about your organization and its mission. Don’t give up on them unless absolutely necessary.