What Is A Fundraiser?
A fundraiser is any event or campaign developed with the sole purpose of raising money for a specific purpose. Fund raisers are held by schools, churches, organizations, charities, and many other groups who need to raise money for their financial goals. There are a myriad of reasons as to why any organization will need to raise money. Similarly, the amounts needed will also vary.
How Does It Work?
Because the purpose of a fundraiser is to raise money, and the more the better, the goal is to keep the costs as low as possible and to create as large a revenue as possible. The wider the gap between revenue and costs, the larger the profit. The formula to keep in mind is Profit = Revenue - Cost.
Some ways to keep costs down are to hire volunteers, get donations of or discounted goods to resell at higher or inflated prices, or to outright ask for the money needed.
What Are Some Types Of Fundraisers?
The types of fundraisers held generally depend on the amount of money needed, the time available and the overall budget for the event or campaign.
For organizations with larger budgets, gourmet charity dinners complete with entertainment, campaigns to raise capital, membership and sponsorship drives, walk-a-thons and other sporting events. These fundraisers usually require start-up money from an already established organization, or one with many resources.
The cheaper and more common fund raisers are candy and bake sales, sales drives and performing services for money (such as washing cars) and auctions (silent or otherwise). These fundraisers depend more on donations to be re-sold for profit.
Selling products for companies to receive a percentage of the sales revenue is also very common. These are often done by schools and sports teams. Products sold are often holiday gift wrap, magazines, candy, and ornaments.