In-Kind Fundraising: A Great Way to Expand Your Budget

Giving Compass' Take:

• Blue Avocado gives some advice about in-kind fundraising, which is a way to save costs by having venues or vendors offer their services in exchange for marketing: What is the best approach?

• Charities should always look for creative ways to hold fundraisers or maximize their influence to keep such overhead costs low. This article talks about in-kind agreements for direct services as well, such as tax prep.

• Here's how to prepare your nonprofit board for a fundraising campaign.

You're desperate. You're planning a fundraising event but don't have the funds to book a venue or a caterer. So what do you do?

First, breathe! Then, start thinking about options for support in a new way. The truth is, often your problem is actually an opportunity since you'd be amazed at how much easier it is to score in-kind support instead of cash contributions. Yet whether you secure a gift or eliminate an expense from your budget, both benefit your work equally.

Success with in-kind fundraising is all about how you ask. So how do you go about enlisting this support?

First off, remember that the most successful asks are a two-way transaction. You give to get. So before approaching anyone, take time to develop and refine your pitch. You'll always be more effective if you begin with a clear ask and a compelling story to share. And remember in some form to speak to what's in it for the prospect, i.e., how you can help them instead of just focusing on things the other way around.