Fundraising Finances

Tel/fax: 1 888 812 3353

Fundraising finances

So you have a fundraising campaign planned, and it doesn’t really matter how much money you make, as long as you make something towards your goal, right?  Wrong!  To be a successful fundraiser you need to have a financial goal and strive to work towards it.

Budget

You need to make a budget for your fundraising campaign.  Before you can start raising money, you need to know how much money you want to raise.  This will give definition and focus to your campaign.  When deciding on which fundraiser to do, plan for any expenses that you will incur.  This can include advertising, stationery, tickets, food and drinks for volunteers, posters, pens, receipt book, door prizes, postage etc.

It is important to keep accurate financial records for your campaign.  You need to know what all your income and expenses are to know what is really working.  Treat fundraising like a business – your real profits for a campaign should take into consideration not just what you have sold, but all the hidden costs such as brochures, shipping costs, advertising etc.

Breaking down your goal

Keep your fundraising goal in mind and break it down into how many items need to be sold per member, how many attendees you need at a special event etc. to be able to reach that goal.  Is your goal still feasible with the fundraiser you have selected?  Did you take into account your expenses?

Tax

Another issue that you need to deal with is taxation.  In many regions you are required to charge tax on items which you sell for fundraising.  Don’t forget to take this into account and to pay the taxes collected to the relevant authority.

Back to list of articles