Business Tips & Self Care Essentials
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Deidre Fraser
Since launch, the organization has raised over $16,000, which is 75 percent of their goal.
Online fundraising has proven to help many nonprofits during this time as it removes traditional barriers to asking for support. Crowdfunding can be an effective means for small nonprofits to raise donations through friends, family, customers, and individual investors. This approach taps into the collective efforts of a large pool of individuals and leverages their networks for greater reach and exposure. The Lyric Theatre and Alabama Theatre, which both earn 90 percent of their operating budget by hosting events, recently launched a crowdfunding campaign on GoFundMe to survive the upcoming months. Since its launch on Monday, September 7, 2020, the campaign has raised over $55,000 in six days, more than 10 percent of its goal. GoFundMe is one of the best-known crowdfunding sites for nonprofits. It suggests fundraising tips and ideas so nonprofits can maximize results and offers specific services to nonprofits such as data and reporting. (One such tip is to boost your crowdfunding success rate, increase your promotions on Fridays—the most popular day for GoFundMe donations.)
Other platforms crowdfunding nonprofits can consider include:
Although there is no magic formula for running a digital campaign, the most important thing a nonprofit can do is create a compelling fundraiser and build a community that emphasizes their cause. Crowdfunding platforms make it easier for organizations of any size to make the most of technology during and after the pandemic, connect and maintain communication with supporters, and retain donors by continuously engaging and nurturing relationships. —Deidre Fraser
https://nonprofitquarterly.org/for-a-small-nonprofit-it-pays-to-know-your-community-and-digital-platforms/
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