Importance of Fundraising for NGOs and Various Strategies

The purpose of NGOs is to make a positive impact on society. Many NGOs dedicated to various social causes work tirelessly to achieve their mission and make a difference. A consistent flow of funds is crucial for them to run their programmes effectively. Let’s look in detail at the importance of fundraising for NGOs.

• Implementation of programmes
Fundraising is crucial for NGOs to run their programmes. Numerous NGOs in India address causes such as hunger eradication, education, environmental conservation, etc. They conduct various promotional, volunteering and awareness activities to attract people who share similar interests. Through effective fundraising, NGOs can plan and implement their programmes, achieve long-term goals and fulfils their vision. Proper financial backing ensures that these programmes are well-organised, sustainable and make a lasting impact on society.

• Creating awareness
NGOs require financial support to raise awareness about the significant need to support their cause. They conduct various campaign activities via social media or organise events such as art programmes, seminars and workshops. These activities incur expenses such as venue rentals, transportation and others, which are covered by fundraising efforts.

• Meeting operational costs
NGOs face various operational costs, including salaries, rent, procurement of materials, transportation costs and utilities. Adequate funding allows NGOs to manage these operations efficiently. They help NGOs compete with the private sector for the talent pool, enabling them to hire the best people in the market.

Measures NGOs adopt for fundraising|

NGOs adopt fundraising to expand their programmes. In order to continue their endeavours, reach a larger number of beneficiaries and make a greater impact, NGOs employ a variety of fundraising strategies. Let’s dive into some of the key measures NGOs adopt for fundraising.

• Crowdfunding
Crowdfunding, in simple words, means raising money from a large number of people. Currently, the most popular way of crowdfunding is to reach out to people via online platforms. Crowdfunding can be specifically effective if there is a specific plan for achieving a fixed amount within a specific deadline.

• Email Marketing
Email marketing is an excellent way to raise funds for NGOs. By sharing inspiring stories along with appealing visual content, NGOs can pique people’s interest in learning more about the organisation’s activities. When donors click the call-to-action button, they are directed to the donation page where donors can enter the amount they want to donate. Email marketing allows NGOs to make personalised content for donors and thus, enhance the experience. Additionally, NGOs use email marketing technique to inform donors about updates, engage with them and ultimately convert supporters into donors.

• Events
Conducting events is yet another way to raise awareness and attract new sources of funds. With a clear strategy and plan, NGOs can grab the attention of like-minded individuals and thus increase the support for their mission. In addition, it is also a good opportunity to express gratitude to donors and well-wishers, showing how their support has been a valuable asset to the organisation’s growth and achievements.

For example, recently, Akshaya Patra conducted an event called ‘Music for Meals’ to educate people about their programmes. During the event, they highlighted their achievements and expressed their gratitude to the donors for their consistent support and trust that helped them to become one of the most admired NGOs in India for children. The event aimed to inspire people to feed schoolchildren and thus achieve their vision — “no child in India shall be deprived of education because of hunger a reality.”

• Social Media
Social media is a useful tool to collect funds. By asking supporters to participate in peer-to-peer social media challenges, NGOs raise funds to achieve their goals. Besides, sharing photos and videos of activities also encourages people to donate for their cause. Social media platforms such as Twitter, Facebook and Instagram give a lot of opportunities to increase visibility and website traffic. By sharing the stories of their beneficiaries, NGOs inspire people to donate again and make them aware of their importance in making a difference in society.

• Corporate Partnerships
Corporate partnerships are a pillar of strength for many NGOs to run their programmes. For this, NGOs collaborate with companies whose Corporate Social Responsibility (CSR) policy aligns with their cause. Such collaborations offer mutual benefits. For instance, Lifebuoy, a hygiene soap brand, partners with many NGOs to promote better hygiene habits. Through these partnerships, NGOs collect funds to run their activities, while corporates have an opportunity to give back to society, get visibility and other similar benefits.

Transparency and truthfulness are the two non-negotiable qualities required for an NGO to survive. As an organisation that received the Institute of Chartered Accountants of India’s (ICAI) Goldshield Award for seven consecutive years for Excellence in Financial Reporting, Akshaya Pata proved their commitment to maintaining these principles. Being the only NGO inducted into the ICAI Hall of Fame further highlights Akshaya Patra’s dedication to transparency and accountability. These recognitions have earned the trust of numerous donors, thereby inspiring them to contribute frequently.

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