Meeting Fundraising Goals During Tough Economic Times

As I drove home today from my dental appointment, having spent more than I had anticipated, I listened to NPR and its discussion of the U.S. economic downturn. I became more nervous with each passing mile as the show’s experts made dire predictions for our financial future.

My mind turned to the Alzheimer’s Association Memory Walk in which I’ll be participating in November. I wondered how in the world I would meet my fundraising goal when people are trying to figure out how to buy groceries and keep their homes. What right do I have to ask them to donate to my cause? How much will I be able to donate to my own cause?

I reflected on the five Memory Walks I organized when I worked for the Alzheimer’s Association. Fundraising has always been a worthy challenge, regardless of the direction of the economic tide. The key is to be creative in what you ask for and how you ask for it. If you’re also nervous about raising enough money for your charity event, here are some ideas:

Ask more people for less. If you need to raise $500 but you can’t think of five friends who could afford to give you $100 right now, try to think of 20 people who could give $25 each.

Test your circle of influence. Ask those original five friends for $25 each, and then request that they each ask one friend for $25. Have those five people ask their friends for donations, and…well, you get the picture. The trick here is to pick those original five friends carefully. They need to be dedicated to the cause (or to you) and willing to follow through on your request.

Accept in-kind donations. Perhaps your family and friends can’t give you cash, but they can give you in-kind donations from their businesses, such as food for the event, free advertising, or gifts that can be raffled off as door prizes. In-kind donations help lower the cost of coordinating the charity event, which means more profit for your cause. Even if you’re a participant but not an organizer, getting these kinds of donations for the event will earn you cheers from the event committee!

Start saving early. Don’t forget that you can help yourself reach your fundraising goal by contributing to your own cause. Set up a savings jar in your home or office several weeks before the event. Toss your loose change in the jar or pledge to take money you usually spend on “extras” and put that money in the jar instead. By the time your charity event rolls around, you’ll have a sizable donation to contribute to your fundraising goal.

I’d love to hear more ideas about fundraising during this difficult economic period. Post a comment to this blog, or start a new discussion in the forum.

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