Presentation on theme: "“It’s not about you – it’s about them” The secrets of successful fundraising."— Presentation transcript:
“It’s not about you – it’s about them” The secrets of successful fundraising
Outline Why do bids/pitches fail? How can we improve our success rate? Why should you receive support? Where’s the best place to look for money? How long might it take to arrive? What else do I need to know? Questions
Why do bids fail? O wad some Pow'r the giftie gie us To see oursels as ithers see us! Robert Burns
How can we improve our success rate? Case for Support Proper costings Research Lead-in times Contacts No dead donkeys
Case for Support Mission & values Importance & urgency Specific objectives History & credibility What would happen if organisation failed/project didn’t happen How the donor can help
Where should I look for income? Trusts & Foundations Corporate Sector Individual Giving Public Sector (incl. Lottery) Community Activities
Trusts & Foundations Exist solely to make a difference by supporting others Usually give to charities Have remits (geographic, user group, interest, etc.) Can support projects or revenue (incl. posts) Need initial investment in research time to tailor applications Once shortlist selected, offer good return on time investment Budget for full cost recovery Need little servicing during duration Can be hard to make personal contact (but not impossible) Won’t fund indefinitely – keen on legacy/sustainability Can be ‘recycled’ into another request Turn around time: 3-9 months
Corporate Sector Could be sponsorship, membership, CSR or in-kind Always a business relationship so exchange of benefits Can take months to research, network, approach, etc. High ‘wastage’ rate in research/approach phase Must take care to budget in full costs of servicing relationship Good potential PR opportunities Average lead-in time: 12-18 months
Individual Giving Bucket collections Crowdfunding Direct mail Regular low-level giving (eg memberships) Higher level giving one-off Regular higher level giving Legacies Biggest potential pot – varied timeline Requires strong Case for Support Needs real support, increasingly online
Public Sector Local authorities cash-strapped Lottery funds on the rise (and rapidly) Worth looking for non-arts support eg Office for Communities & Local Government, Big Society, etc. Possible support from European Union Lead-in time: 6 weeks +
Community Fundraising Events Raffles Sales Promise auctions Sponsored leg waxing Great for PR and involvement Can soak up immense amounts of time for low returns Lead-in time: very varied
Fundraised Income Trusts & Foundations 3-9 monthsInitial research time-consuming but little more work post-application, other than reporting. Great ROI overall, providing full cost recovery is implemented. Corporate Sector Up to 18 monthsA business relationship for mutual benefit, so think as in their shoes. Lots of research & networking required. Full costs of servicing must be build into price. Individual GivingVery varied, depending on scale Everything from bucket collections to membership scheme to legacies. Biggest potential area. Requires strong case for support, and awareness, increasingly online Public Sector6 weeks upwardsDependent on matching criteria and timings, but good potential. Third party applications fare well. Not just arts-related Community Activities Very varied, but usually short-term Again, dependent on community awareness and support. Can be huge drain on resources, but great PR.
Is fundraising a good use of resources? What do we need money for? Why would we merit support? What’s the best use of our time? And what’s realistic, given current and/or future resources?
How can trustees help? “Give, get, or get off!” Contacts Donations Time Expertise