We've all had that moment. An enthusiastic Board member comes up with a fundraising event idea they believe can't lose. And it may be a great idea. But also it may not. Here are some things to consider before you say "yes!"
Does it connect to mission?
It is easier for a charity to execute an event well that connects to mission. You have internal expertise. Plus you want everyone who attends to connect to you. You may have some new people attend your event and it is valuable to build an event that highlights your sector or issue so that you can engage with them after the event.
Do you have the audience for this event?
I once had a Board member who wanted to do an art auction for a social service charity. An art auction isn't a clear fit for a social service charity. People engaged with the charity are interested in a lot of issues but are not drawn to the charity specifically with a love of art. An art auction for an art charity is a great mission fit. Furthermore, your existing supporters are more likely to engage in an event that fits their interests.
Do you have the expertise to pull it off?
No one wants to embarrass that charity. If your charity doesn't have expertise in a particular area, like an art auction or high-end event, it will be hard for you to pull off well. An event is a specialty and that comes with staff and volunteers who have expertise in the area. This expertise can be developed but it takes time and may take money.
Do you have enough time to pull this off?
Is this a new event? Allow at least two years of planning. No, I am not making this up. You need to build your idea, do a market scan to determine timing and whether this event is a good fit for your community, recruit a committee ... and on and on. Sure you can pull together an event in a month - put can you pull it off?
Do you have the right volunteers for this event?
Volunteers can make or break an event. If you don't have connections to corporations for sponsorships, it will be hard to find those sponsors without volunteer connections. If you don't have hands-on volunteers, you may find yourself doing a lot of time-intensive work to get tasks done or needing to hire staff (which will lower your net revenue)
Do you have the budget to pull this off?
Bear in mind that events are high risk. Charities often lose money from events. Do you have someone willing to underwrite all the costs of the event so that it won't lose money? Does your charity have a reserve fund if the event fails and you have a loss?
A great event can do a lot of great things for your charity. But be sure you go into it with your eyes open and set up for success.
Ann Rosenfield is the Editor of Hilborn Charity eNews and has run a lot of events. They all have made money but the amount of work wasn't always worth the effort (particularly for those last minute ones.)
