Setting Realistic Fundraising Targets
Fundamental to successful fundraising is the setting of a fundraising target, whether it is €100 or €1,000,000. Setting a realistic fundraising target enables fundraisers to plan strategically for achieving the target.
To achieve the overall fundraising target it is recommended to further develop a series of fundraising targets for other areas of activity.
So for example, an organisation which needs to fundraise €100,000 may set a target of:
- €50,000 from grant-makers,
- €30,000 from the general public and
- €20,000 from earning.
Within these targets may be further targets.
In grants for example the target may be to raise €50,000. This could be made up of:
- €25,000 from government,
- €15,000 from trusts and
- €10,000 from corporate.
Whatever the targets are they ought to be considered and arrived at very carefully and should not be the basis for budgeting the next year until funds are secured.
Alongside the setting of smaller more achievable targets is the practice of setting milestones throughout the year and over many years for raising the totals you need.
So for example...
If your target is to raise €36,000 in 3 years, this could be achieved by raising €12,000 in each year or €1,000 per month. You might set targets of
- €8,000 per year from grants,
- €3,000 from the general public and
- €1,000 from earned income each year.
You might also alternatively set targets of:
- €2,000 for an event at Easter,
- €4,000 for a summer event,
- €1,000 for a Halloween event and
- €5,000 for a Christmas event each year.
By planning a calendar of fundraising events and putting in place fundraising processes it is much more possible to comfortably achieve the income you need.
Set yourself a target based on the amount of funding needed and set a deadline for when you need to raise it by.
Then plan a series of events and activities which will enable you to meet that target.