As an entrepreneur, your mission is to make money, but what if you could direct these entrepreneurial skills towards helping those in need? From water aid to Ramadan appeals, there are so many causes that require attention, and anyone can establish a fundraising appeal. Whether it’s something you’ve been looking to set up for some time or you’re responding to an emergency situation, there are various important points that need to be considered in the establishment of a fundraising appeal. This is to maintain ethics and legality, all while guaranteeing the success of your appeal.
Ensure the Need is There
First and foremost, the whole point of establishing a fundraiser is to alleviate some form of hardship. As a result, you need to assess whether the cause you’re looking to help has a need for the appeal. Similarly, you need to make certain that you’re able to deliver the funds to those in need before you start collecting your donations. The easiest way to distribute funds is by teaming up with an organization or charity that shares your mission. This way, you can be sure that the money is going where it was intended to go and is being ethically handled.
Be Specific
If you want to create a successful appeal, you need to ensure that the purpose of such is clear. These specifics include who you’re striving to help and how you intend on going about achieving this. Not only is it a legal requirement for you to use the donations you receive for the outlined purpose in the appeal, but it’s the ethically correct thing to do. If you’re able to detail the specifics as much as possible, the more your potential donors will have to base the decision of their contribution on. While it’s a noble mission to want to help everyone, this isn’t achievable via one appeal, meaning broad terms should be avoided.
Coordinate with Existing Charities
As previously mentioned, the easiest way to distribute funds to those in need is to liaise with existing charities or local community groups. After all, these organizations are established to fundraise and deliver the services that you’ve based your appeal off. Similarly, charities are typically able to reclaim tax on donations, allowing them to generate more funds from the cause. As an individual or a profitable organization, you may not be entitled to these same tax exemptions, forcing you to spend a portion of the donations outside of the intended cause.
Address Legality
Of course, there are legal implications attached to fundraising. The actual laws will differ from country to country and state to state, so it’s important to educate yourself on the laws surrounding charitable organizations. The last thing you want is for your donors to feel misled, which can, in turn, land you in hot water. Essentially, the one law that remains across all locations is that your funds must exclusively go towards the mission you established from the get-go (aside from taxes).
Don’t Do It Alone
Last but not least, even if you don’t team up with an existing charity, it’s still important that you don’t go through the process alone. In the absence of an existing charity, you need to ensure that other people are involved in the decision-making process. Not only does this allow you to pool ideas to reach targets in the most efficient way, but it also reassures your donors that they’re not solely donating to an individual. Similarly, it reduces the amount of pressure being placed on you, allowing you to focus on delivering quality results.