Fundraising can be challenging and for small nonprofits this can be even more daunting. With less staff capacity, name-brand recognition, and resources compared to larger orgs, it may seem like smaller nonprofits have extra hoops to jump through.
What’s Considered Small?
According to IRS guidelines, 501(c)3 organizations are classified by the size of their total assets, with cutoffs at the $100K, $500K, $1M, $10M, and $50M mark. Using these standards, and for the purposes of this article, we’re classifying any org with assets totaling $500K or less as small.
Small But Mighty
Just because you’re a small nonprofit doesn’t mean you should sell yourself short.
Small nonprofits are a force to be reckoned with because they have unique advantages over their larger counterparts. Namely, a small nonprofit’s ability to personalize interactions with donors is one of their greatest assets. Local organizations are especially adept at solving community problems because they have the opportunity to get to know their supporters on a 1:1 basis.
Another key advantage of a small nonprofit is less bureaucratic red tape. This means that decision making is quicker, without having to run it by different levels of management. In addition, small nonprofits are generally more nimble with the ability to quickly pivot their fundraising strategy if needed.
With these advantages in mind, if you’re working to raise money for a small nonprofit, we recommend the following fundraising ideas to boost your ROI.
1. Virtual Walkathons, Races, And More
A walkathon or race is an example of a tried and true peer-to-peer fundraiser that has potential for a high return. These events help introduce your nonprofit to new audiences (and new donors). Not only can you raise money through event registration, but you can also boost your revenue with sponsorships, branded merchandise, and matching gifts.
These days, virtual walkathons and races are on the rise and it looks like this format is here to stay.
Need tips on hosting your next virtual walkathon? Check out our ultimate virtual walkathon fundraiser playbook. Don’t worry, If a walkathon or race isn’t really your thing, you can always opt for another activity that better aligns with your mission.
2. Implement Crowdfunding
Crowdfunding campaigns are a popular way to spread the word about your cause via social media without breaking the bank. Implementing a successful crowdfunding campaign generally includes five key ingredients:
- Choose a crowdfunding platform.
- Create a campaign page replete with photos, videos, and a written appeal to help tell your story.
- Set a realistic fundraising goal.
- Share your campaign through social media and encourage your network to do the same.
- Update your supporters along the way and remember to thank them at the conclusion of your campaign!
When choosing a crowdfunding platform, make sure to look for easily customizable features that can match your company’s brand. At CauseVox, we’ve got your basics (and more) covered. With social sharing buttons, branded pages, and a visual way to display campaign progress, you can get your crowdfunding campaign up and running in minutes.
3. Corporate Matching Gifts
Did you know that an estimated $4-$7 billion in matching gifts goes unclaimed every year? Did you also know that 65% of Fortune 500 companies offer matching gift programs?
By NOT leveraging corporate philanthropy through matching gift programs, money is being left on the table.
Matching gifts can be beneficial to all organizations, but especially for small nonprofits:
- Matched gifts can apply to most donations.
- You don’t have to do anything extra to receive the second donation.
When donors give, they can submit a request to their employers to match your donation dollar for dollar (or more). This means that you have potential to double the amount of funds raised.
While the onus to request a matching gift lies with the donor, many donors may not even know that their company has a matching gift program. This is why it’s so important for organizations to communicate and promote matching gifts.
4. Raffles
For small nonprofits, raffles are easy fundraising ideas with a high ROI. Bring your raffle into the 21st century by hosting it online. As you’re brainstorming charity raffle ideas, consider kicking it up a notch by incorporating your raffle as part of an ungala.
With CauseVox’s integrated ticketing, your supporters can purchase tickets ease on any of your campaign sites:
Tip: Before organizing a raffle, we recommend checking your state and local regulations around gambling activities to make sure you’re in compliance.
Grow Your Fundraising With CauseVox
CauseVox can help you raise more with less effort, whether you’re part of a small team or a team of one.
Book a demo and learn more about how you can leverage CauseVox to make a big impact as a small nonprofit.
