Getting Around The Catch 22 Of Funding The New Nonprofit
December 29, 2015 Lynette Garet Uncategorized 0 Comment
How To Get Funding to Start Up Your Nonprofit, Even Without a Solid Track Record
Starting a nonprofit is a noble and selfless endeavor. However, sooner or later every nonprofit runs into the same frustrating problem – donors are reluctant to give money to organizations without a proven track record, but it is impossible to build a solid track record without adequate funding.
Fortunately, this particular Catch-22 is more of a roadblock than a brick wall – there are ways around it. New nonprofits are started all the time, and if you have the passion, the vision, and the determination to get one started, you will find the funding you need to make it happen. Here are some tips on how to secure that first influx of cash.
Petition Friends and Family
Friends and family can be some of your best resources. Those closest to you will have faith in you and support your endeavors. You can also recruit them for help, whether it’s stuffing mailer envelopes, manning phone lines, or providing you with lists of potential contributors from their friends and families.
Get the Word Out
Contact anyone and everyone who may wish to contribute to your cause. Rent mailing lists from a list broker; send out mass emails; cold-call corporations and small businesses; and pass out fliers directing people to your website. Find local businesses, schools, churches, or charities with like-minded goals, and ask if they can help get the word out about your new endeavor.
Crowdfunding is the newest way to secure funding for non-profits. Many people have been successful on more generic crowdfunding sites like Kickstarter, but there are sites specific to nonprofits, such as Fundraise.com, CauseVox, and Fundly.
Find and network with other nonprofit directors. A number of nonprofit organizations host events where members can share tips, network, learn from each other’s experiences, and help each other find funding.
Apply for Grants
Many corporate and private foundations offer grants for nonprofits. Do an online or library search for grants that correspond with your goals and values. Or, search for government nonprofit grant programs. When applying for grants, it is important to have all of your ducks in a row. Be ready to present a plan, have all of your financial information ready, and be prepared to create a perfectly persuasive proposal.
Host an Event
Charity events are fun, creative ways to secure funding. They also serve a second purpose: bringing attention to your fundraiser. What’s more, businesses, celebrities, and prominent community figures are more likely to lend their support to a public event.
With commitment, perseverance, and some good old-fashioned legwork, you are sure to find the funding you need to get your charity off the ground so you can truly make a difference.