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Libertaes Fundraising Plan
Libertaes funding sources over the past five years have been more or less the same, with a few adjustments regarding smaller events and the availability of eligible grant options. The main sources of funding have been annual giving and event-related fundraising from the annual spring fashion show. Grants come in from time to time from the government, corporate foundations, and private foundations, but there is no guarantee that these will be received in any given year. As the organization evolves, it plans to add other sources of revenue to support its work. The overall goal for this fundraising plan is to increase revenues from $3 million to $4 million over the next year. To realize this goal, this plan proposes the expansion of corporate support and online fundraising, as well as programs for cultivating individual donors. The plan focuses on raising the following categories of gifts:
a) Unrestricted gifts through individual donor and corporate support under the united Way and Employer Matching Gifts program
b) Restricted gifts through foundation support
c) Gifts for physical capital through Major Donors
d) Gifts for financial capital through the annual Fashion Show and Hosted activities
The plan includes the following activities or action plans:
Annual Giving (Regular Memberships)
Annual giving covers all contributions made to the organization that are not based on a purchase, event, or other exchange (Greenfield, 2004). In essence, it is a charitable investment in the work of the organization by other people committed to the same values and goals (Greenfield, 2004). The organization accepts any amount of contribution towards its activities, although all requests for support start with a minimum of $50. This plan categorizes annual giving into two: regular memberships (contributions of $500 and below) and major donor memberships (contributions above $500). The major donor category is discussed as one of the fundraising sources below.
For Libertae, membership is a conceptual term associated with the provision of financial support to the organization, and not a legal definition based on payment of certain dues. For this plan, the annual giving program focuses on realizing two objectives: a) devising strategies for efficiently targeting existing individual donors to increase their gifts, and b) attracting new individual donors. To generate membership contributions of not more than $500, Libertae will employ three primary strategies:
a) Acquisition efforts to seek initial contribution from new members, which will be carried out primarily through direct mailing solicitations, email blast solicitations, #Giving Tuesdays, and end-of-year solicitation activities. The organization will begin direct mail solicitations again after they were halted several years ago, because they showed success when they were utilized, bringing in approximately $15,000. As the email blast solicitations, #Giving Tuesdays, and end-year solicitations have not been very effective, they will be retained, although more funds will be dedicated towards direct mailing efforts.
b) Renewals seeking to continue the support of existing contributors and encouraging them to renew their annual giving will be carried out. The organization will employ several strategies to encourage contributors to renew their membership. First, the organization will initiate a Thank-You procedure that will focus on sending thank-you notes to all gift-givers. All first-time donors will, regardless of the size of their contribution receive an invitation to a non-ask thank-you event. The non-ask event is an inexpensive event to be organized for all donors at the end of the year. The non-ask event will be an open bar and will focus on thanking the donors for their support, reinforcing the organizations mission, and providing means for the donors to interact with each other as well as with the organizations
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