There are several types of fundraisers that make some money for a cause or organization, but what kind of fundraisers make the most money? Depending on how much the organization is willing to invest in the event, the amount of money the fundraiser can yield can be top tier. Here are the fundraisers that make the most money and the top four successful formulas.
1. Host a Gala
A gala, which may include dinner, music, and dancing, is an excellent fundraiser. This event will generate a generous sum of money. If executed correctly, a black-tie dinner can sell for upwards of $2,500 a plate.
When asking what kind of fundraisers make the most money, of course, it will depend on how much work, detail, and advertising is put into the effort. It is advisable to have a committee to work on putting the gala together. Otherwise, having the work fall all on one person can be overwhelming.
How to Organize a Gala
Find a good date and location far in advance. Afterwards, assign some volunteers to be in charge of the guest list. Book the band shortly after setting the date to ensure their availability. This is recommended for the caterer also.
Committee members can then come up with a theme to make the gala a fun, memorable event. Lastly, fundraising can be focused solely on tickets. The organization can also decide to have businesses sponsor tables or hold a silent auction.
2. Put on a Silent Auction
What kind of fundraisers make the most money? A silent auction is an excellent method of fundraising. Such an event can make a lot of money for an organization’s cause.
In order to have a high producing silent auction, it is necessary to have desirable items on which participants are willing to bid competitively. The investment for a silent auction is relatively little in comparison to the amount of money it can generate.
How to Organize a Silent Auction
The organization will need a hall or space in which to host the event. Although a silent auction can be the sole attraction of the event, more commonly, it is a part of another event such as a gala, concert or museum tour.
The items must be displayed in such a way that the participants can closely them closely. In front of the item, organizers will place a bid sheet where participants can write down their name and contact information. They should also mention the amount which they are willing to pay for the item.
Afterwards, if another participant is interested in the item, he or she will place his or her name, contact information, and a higher bid underneath the first person bid. The bidding will continue this way until the end of the event. Typically, the highest bidder does not need to be present to receive the item. That’s because the contact information is present on the bid sheet.
Volunteers and Types of Auctioned Items
Expert volunteers are needed for silent auctions. Getting high-ticket desirable items requires a certain set of skills. Volunteers will need to solicit businesses and others for such items. They will also need to know how to best frame the cause for which the money is going towards. Good volunteers will also be needed to set up, monitor, and help participants check out in an efficient manner.
Types of items that are highly valued are gift packages from local businesses, vacations, hotel visits, restaurant gift certificates, sporting event tickets or fine arts events tickets. Some other items that may yield even higher revenues are unique experiences in the community. These can be personal services such as babysitting or IT support, and once-in-a-lifetime experiences.
3. Hold a Concert
If an organization is wondering what kind of fundraisers make the most money and is located in a large city or a city known for its music scene like Austin, Texas or Seattle, Washington, a concert may be their answer. Holding such an event can be an effective fundraiser to generate a good bit of revenue.
How to Organize a Concert
Of course, a venue will have to be procured, and that can be costly, depending on size. On the other hand, many musicians are willing to play a show for a reasonably low or no cost. They may deem the cause to be a good one that is meaningful to them.
The organizers can decide to host a number of acts to perform. This way, they show consideration both to the bands themselves (so that they get enough time) and to the audience (so that they get their money’s worth).
Some administrative fees to take care of are the price of the venue, compensation of the bands, any technical stagehands, and refreshments. In case the event takes place outside, the management should also cover the price for restroom areas. Ticket price should take into account these fees, but if the acts are popular enough, an organization can pull in hefty sales for one night’s worth of entertainment.
4. Have a Race
One popular fundraiser idea is hosting a race. What kind of fundraisers make the most money? Races. Runners from far and wide come in order to participate in 5Ks, 10Ks, half marathons, and full marathons.
How to Organize a Race
Contact city officials to find out the necessary steps for obtaining a permit. Afterwards, you are free to select the location, date, and course for the participants. Setting a budget is the next step in organizing the event. Take into account costs for items such as banners, trash cans, portable restrooms, refreshments, advertisement, and awards.
Expenses range in the area of $1500-$2500. Typically, entry fees from participants can cover the costs of overhead. Sponsorships from local businesses are the donations the organization raises for its cause. Sponsorship money is reflective of the amount of work organizers put in to obtain them and promote the event. However, large races can bring in as much as five figures for a cause.
When considering what kind of fundraisers make the most money for organizations, it is important to note several things. The amount of effort the organization is willing to put in is directly related to the amount of potential money the fundraiser can generate.
Moreover, the amount of initial investment is more than the average fundraising event. Keeping an event related to its mission will help ensure its success. Don’t forget to thank volunteers for their hard work.
Lastly, it is always important to send thank you notes to sponsors or donors for their generosity to the cause and organization. Make an impact in your community today by choosing one of these 4 successful formulas for your next fundraising event.