Meetings and Events San Francisco | Corporate Fundraising

Corporate Fundraising

Article By: Meeting Planner Resources, LLC

One of the growing trends of corporate America is that employees of major companies are finding themselves being asked to tackle projects outside the realms of their original job descriptions. In theory, the conflation of employee positions streamlines the production process and reduces the amount of head butting between colleagues who are working on different yet overlapping projects. In practice, however, each member of the team finds himself/herself taking up the added responsibilities of a field with fewer players. As a result, the duties of a corporate fundraiser are being placed on the shoulders of human resource personnel, administrative assistants, and business meeting professionals. Corporate fundraising may seem like an intimidating venture, but with a few key steps in mind, the inexperienced meeting planner will find it to be a challenging and rewarding experience.

Defining a Purpose – Corporate bodies fundraise for a number of reasons. Sometimes a company will work with a charity in order to solidify good public relations. Other times a company will fundraise in order to assist one of their own employees for medical or other personal reasons. Understanding what exactly your company wants to accomplish through fundraising is imperative because it will shape your planning and decision making process. A clear purpose will tell you if you need to place emphasis on the bottom line (amount of funds raised) or if you have leeway to concentrate on other areas, such as branding or corporate networking.

Goal Setting – Before planning begins, a specific target figure of how much money is to be raised should be set and finalized. Be sure to assess your capabilities and resources and set a target figure that is realistic and within reach. If you don’t meet your goal, then all of your hard work will be undermined. Your goal will keep you focused and serve as a constant reminder that the only purpose of fundraising is to meet the set target figure.

Event Planning – This is where the expertise of meeting planners comes in handy. A fundraiser can take the form of a variety of events and planners should be familiar with the pros and cons of each. For example, silent auctions are an easy way to generate interest among a diverse group of people; such events are almost guaranteed to produce a large turnout. However, the potential for bringing in large figures is heavily dependent on the quality and quantity of items up for auction as well as the likes and dislikes of the guests, a factor that is often difficult to gauge. Planners need to keep in mind that the potential for fundraising should be the deciding factor when choosing an event format.

Financial Budgeting – One of the common pitfalls of fundraising is that more money is spent than is actually accrued, defeating the purpose of the fundraiser altogether. Planners should adhere to a strict budget and keep in mind that the results of the planning process must be realized immediately. Any excess spending will eat away at the funds raised and once the event is over, that lost margin cannot be recouped. For example, formal sit-down dinners are a common type of fundraiser, but the expense of catering, facility rentals, and entertainment means that such a project would have to begin with an already large budget. You should invest your budget on organizing an event that will raise more money than it costs to organize.

Advertising and Promotion – Based on the target figure, planners should decide on the best way to advertise their fundraiser. If the project is small and can be kept in-house, then the need for advertising is greatly reduced. However, if the target figure demands for greater exposure, then planners will need to work closely with their company’s public relations department. Press releases should be sent out to local media and if possible, planners shouldn’t hesitate to contact and meet with community officials so they can spread the word to their constituents.

Fundraising is an excellent way for corporations to build relationships within the community. Sometimes the charity or organization the corporation is fundraising on behalf of will take charge of the situation and bare the bulk of the responsibility, but more often than not, it’s the meeting planner who will end up in the driver’s seat. Organization and a strong method of implementation are key to fundraising success. Once completed, planners can enjoy a sense of fulfillment from gaining a new skill set and adding fundraising experience to their areas of expertise.