Major fundraising events can raise crucial revenue for nonprofits - but they require planning and can require higher upfront costs than other non-event fundraising campaigns.
To further explore this topic, Software Advice surveyed nonprofit event planners, asking questions about the planning ease and return on investment (ROI) for eight types of special events, to help fundraisers determine the best event for their nonprofit’s size and budget.
Here are the key findings:
- Fun runs and walks are the easiest events to plan, generating moderate to high revenue for nonprofits of all sizes.
- Small nonprofits are at a disadvantage compared to larger nonprofits; the upfront investment for an event is a strain on resources.
- On average, "a-thon" events have the lowest cost per dollar raised (CPDR), and thus are suitable for all nonprofits. Concerts have the highest CPDR, requiring a larger budget.
- Number of new donors and number of attendees are the most popular metrics to measure event success. CPDR is the total expense of an event divided by the total amount raised.
- Software, including fundraising and event management applications, speeds up event performance analysis and improves experiences for staff, volunteers, and attendees.
For more information, you can read the full report here.
Software Advice put together a cool infographic that reflects the key findings of this report, check it out.