Kuanita E. Murphy How to fund your vision or project has become a viable topic in small organizations and communities. Whether the cause is for profit or charitable having a plan in place to develop diversified funding in requisite in today’s economy. Without money, there is no mission. Unlike large communities, the number of resources available in small rural areas is not always feasible. One must think outside the box to make things happen. Here are seven tips to develop diversified funding streams for your cause. Foremost, consider the organizations’ mission and purpose. Pursuing funding sources that align with the goals of the organization refines the search. Grants are highly competitive and funders seek grantees that best align with their mission. Furthermore, aligning with grantors who match the organization’s objectives improve the probability of getting funded. Develop a strategic resource plan. A strategic resource plan is valuable in several capacities to assess current and future objectives for the organization. Understanding the goals both short-term and long term will support defining a plan to support them. Identify and build a team. Resource development for any organization or group is a full time effort that requires more than a single individual. Team members should be engaged in the planning and implementation process as much as possible. Planning as a
team will ensure buy-in and support to make things happen. Partner or Collaborate with others. It’s no secret that in small communities and organizations working together is crucial to success. Businesses, in small areas, are often inundated with numerous donation requests and giving fatigue is all too real. Give potential donors an opportunity to support collective efforts to maximize contributions. Think outside the box. Diversified funding streams in not only achieved through grants, but also fundraising and direct ask campaigns. Develop activities or events that showcase the organizations’ mission and objectives. Annual signature events not only raise monies but bring also awareness to your organizations' goals and needs. Engage your donors. Keep donors informed on your organizations mission periodically not only when requesting donations. The ultimate goal is to build a relationship with donors. Donors give to those whom they have prior knowledge and believe align with their mission. Considering the aforementioned tips is one way to begin the journey of raising funding in small communities. Each community and organization is diverse and every approach may not always work. However, the key essential is to remain consistent and little by little work towards your organization’s financial goals.—
Think outside the box.
Be creative.
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