Introduction

So you're pumped to start raising money for your art. Excellent! This guide will simplify the entire process into a digestible five-step strategy to make sure you're prepared for fundraising success.

1. Financial Blueprint: Crafting Your Budget and Goals

Starting with Expenses

Before you can set a fundraising goal, you need to know how much your project will cost. Estimate your expenses by breaking down what you will need and how much it will cost. Utilize your network to get accurate cost estimates for each item on your list.

Diversify Your Income Streams

Apart from the funds you aim to raise, identify other income sources like grants, ticket sales, or in-kind donations.

The Fundraising Goal Equation

Here’s a simple formula to find your fundraising goal: Total Expenses - Total Income / Expected Income = Fundraising Goal.

Account for Fundraising Costs

Remember, fundraising campaigns and events have their own costs. Include these in your budget to avoid surprises.

Additional Resources

For more budgeting guidance, check out The Field Guide to Budgets or use our Budget Template.

2. Lessons from the Past: Evaluating Previous Fundraising Activities

Success Stories

Make a list that summarizes how much you raised through different channels like individual donors, events, or grants in the past.

Learning from Failures

Identify the strategies that didn't work out as planned. Consider what changes might improve your fundraising effectiveness.

Spotting New Opportunities

Are there special events, anniversaries, or staffing changes that provide new fundraising opportunities? Make sure to capitalize on these.

3. Assemble Your Team: Identify Stakeholders and Roles

Team Roster

Make a list of everyone involved in the fundraising process: board members, advisors, staff, or volunteers. Assign specific tasks to each team member.

Budget Adherence

Ensure that everyone is aware of the budget allocated for fundraising to avoid overspending.

4. Your Target Audience: Listing Potential DonorsPre-Funding

Re-engaging Current Donors

Plan how you will ask your existing donors to contribute again. This could include mail appeals, emails, or follow-up calls.

Upgrade Opportunities

Look to upgrade current donors by asking for larger contributions. Personalize your approach when you do so. Start by considering donation levels of $100, $250, $500, or $1,000.

New Prospects

Identify new potential donors who have recently engaged with your organization. They could be subscribers to your mailing list or attendees at your events.

5. Plotting Your Course: Creating a Fundraising Calendar

Funds Receipt Timeline

Know when you need the funds and how long it will take to process them. If you're using a fiscal sponsor, make sure you understand their processing times.

Campaign Duration

A 30-day campaign is generally a good time frame; it's long enough to gather momentum but short enough to maintain interest.

Communication Frequency

Plan out your communication strategy with emails and social media updates. Make sure to include highlights, reminders, and thank yous.

Synchronize Your Calendars

Merge your Fundraising Calendar with other organizational calendars like your Benefit Timeline and Grant Calendar to see the big picture.

Conclusion

And there you have it—fundraising doesn't have to be daunting when broken down into manageable steps. Follow this guide, and you'll be well on your way to reaching your fundraising goals. Good luck!