Raising money for University Foundations, is not an easy task, especially when competing with so many other charitable causes and other types of non profit organizations. One of the major issues with dealing with capital campaigns for university foundations is visibility and the trust factor. People tend to distrust volunteers asking for donations unless they know the person, due to a lot of fraud business running in the name of charity and the misuse of the money donated. That said, when at a university foundation has at its board high-profile individuals, the task becomes much easier.
A common problem in most foundations including university foundations are strategical difficulties, mismanagement of the work, dis-allocation of responsibility, and similar things. Fund raising needs to be approached with an extremely well-planned strategy and a great deal of coordination.
This article lists some of the most successful fund raising strategies for non-profit organizations that can help an overflow of donations to your university foundation.
- It is mostly seen that only one between the board members and the volunteers concerned are active in fund raising activities at university foundations. However, it is very important for both these entities to work together and in co-ordination with each other. Their synchronized work will ensure more funds that either of them working separately. It is very important therefore to delegate responsibility.
- Events are a great strategy for raising funds for university foundations. One reason why the non-profit organization faces difficulty in raising funds for its cause is that the beneficiary is not a consumer. They are getting nothing out of it and are mostly doing it for good will. However, more people can be lured into donating if there is something in store for them, even if it means only a bit of entertainment or social interaction. They benefit through fame and a good image while the organization gets its much required monetary or otherwise support.
- Do not set any lower limit to how much people can donate. If they are free to give as much as they want, they will be more willing. Whereas if you restrict them, they will feel forced and may not be willing to donate. Freedom is enjoyed by everyone and being free to chose how much they can afford or are willing to donate will always make these parties more charitable as well as maintain their relationship with the organization which will ensure future funding as well.
- It is a good strategy to divide the donating audience into two, one of those small organizations and individuals and the other or big business groups and entities. A target can be set for both groups and efforts can be made then accordingly and in an organized way to reach the target.
- Social media is one of the fastest ways of spreading a word about university foundations. The target group over social media is extremely large and is not limited by boundaries and nations. The success of social media as a fund raising strategy can only be assessed by considering the impact the bucket challenge made over it.
These are only some of the numerous fund raising strategies that can be used to generate fund and spread social awareness for university foundations.