5 Ideal Solutions for Raising Funds During COVID-19

Here are some best practices for fundraising in a crisis.

Every single person in the nonprofit sector is concerned about the impact that coronavirus has on business, its function, and its management. Nonprofit fundraising has also been greatly affected by the crisis; the economic collapse and the pandemic pose an existential threat. 

It is pretty evident that most CEOs are stressed. This is expected, as it is unknown how many organizations are going to survive, let alone thrive. As a matter of fact, this is such a bad time to go ask for help when people are dealing with illnesses and other difficulties. 

However, nonprofits need funds, therefore the right methods must be adopted. With this article, let us look at a few ways in which these situations can be made better. 

  1. Thoughtful Communication
  2. Powerful Technology
  3. Effective Online Meetings
  4. Strategic Data & Fund Management
  5. Strengthened Relationships

This is not the time to panic but to pause and think with a calm mind. A lot will depend on money and the inflow of cash to make sure that rent is met and employees are paid.

By establishing these best practices and prioritizing long-term donor relationships, you can set your organization up to successfully weather the storm.

1. Thoughtful Communication

You can’t just barge in and start sending emails requesting for donations; that will come across as heartless and insensitive. Instead, your nonprofit should draft communication materials to suit the current scenario. 

First, it must be about your donors. Address them (personally) and let them know how you’re aware of all the hardships that they might be going through. Offer your emotional support before you ask for financial support; it works better that way. 

Keep in mind that your email or message should be more of a personal conversation between two individuals who are fighting a pandemic together, rather than an outright donation request or, worse, an ATM withdrawal. 

As you improvise on your materials, you must get your basics right. For example, you might send out a newsletter to your churchgoers to channel modern communication. Even on social media, make relevant posts that speak empathy and compassion on top of everything else. This communication guide may be the perfect material to begin with. 

2. Powerful Technology

Our saving grace and one of the positive parts of this commotion is definitely technology. Imagine having no technology— working from home would be nearly impossible! But right now, there is so much we can do with the help of technology. 

There are modern ways to give, such as through text-to-give tools and online donation pages, that your nonprofit can adopt to maintain funding during a difficult time., As one of the best ways to handle remote giving, GiveCentral’s text-to-give has helped many churches achieve their fundraising goals during the coronavirus lockdown. Since these are easy to use, you can maximize on these methods and improve business. You may want to consider our guide to virtual fundraising for a better understanding. 

Fundraising is not an easy task, but your nonprofit can still make it work. After all, no road to big goals has ever been a cakewalk anyway.

3. Effective Online Meetings

It is more important now than ever that the employees of your nonprofit be very well coordinated and mobilized. That’s why you should make use of live streaming services such as GiveCentral LIVE that enables you to stream videos and hold meetings with a group of people regardless of physical distance. 

Be clear on your nonprofit’s current goals, let your staff know where all of you are headed, and be sure to involve everyone in the process. The power of a good group discussion is truly unmatched, so it is a good idea to try and grab as much as you can through these meetings. 

Most of us are working from home, so some of your staff members may be lacking motivation at times. Make an attempt to cheer everyone up in your online meetings once in a while. Give out good vibes. If your employees are happy, it will show in their work too. 

4. Strategic Data & Fund Management

Your nonprofit should see to it that the already existing funds are well managed in order to make way for more funds. Pay attention to your data to see how many people in different areas and among different age groups are consistent with their donations, even at this time. 

By doing this, you’ll know how to make the donation process even easier for them and communicate accordingly. When it comes to funds, you should also give importance to your employees getting paid regularly; let your every move be a calculated one. You need people to help you right now, so cut down on other factors that may not be of utmost importance at the moment. 

5. Strengthened Relationships

The world needs more love, unity, and care— especially in a time like this. Reach out to your board members, employees, and donors and tell them that you care about them. Thank them for being with your nonprofit and supporting you in every way possible. 

Make sure that you thank your donors with personalized messages, or click here to explore the different ways in which you can show your gratitude during the pandemic. 

Ideally, you’d make phone calls asking your donors about their well being and how they are holding up. Form stronger bonds and do not stop sending emails. This is not just about fundraising for nonprofits, it is also about creating lifelong relationships. 

All throughout your planning, execution, and management, it’s important that you do not assume anything. Do your research before you decide to set new goals and adopt new routes. It’s a good idea to read up on some of our favorite free fundraising software for nonprofits. 

The mission of your nonprofit should define your goals. Keep in mind that you might lose some support, but you’ll likely gain some, too. Be mentally prepared for that! It is absolutely okay to feel nervous, but stay the course and give it your best shot. 

Vish Vass, Senior Vice President and Managing Director at GiveCentralThis was a guest post contributed by GiveCentral.

Vish Vass is the Senior Vice President and Managing Director at GiveCentral. By modernizing nonprofit fundraising with the use of technology, Vish believes that we can bring about the necessary growth and help nonprofits fulfill their mission.

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