How To Not Lose Money When You Fundraise

By: Laurie Streiner

As an event planner for not-for-profit organizations for over 25 years, I’ve learned there are several things an organization can do to help prevent losing money on their fundraiser.

I started my career in production and later transitioned into meetings and events. For many years, I planned large corporate events, handling everything from hotel contract negotiations to galas, conference logistics, and catering needs. I am now the Event Director for Bistro To Go Catering but still independently plan events such as The Pittsburgh Film Office Oscar Gala, the annual fundraising gala for the Pittsburgh Glass Center, and the Evening of Arts for Autism event for Evolve Coaching.

My observations over the years have shown me some effective ways to help organizations make as much money as possible to support their causes.

1. When designing your event, have a clear idea of your net fundraising goal — and make it realistic based on the current economic climate and your organization’s growth.
2. Create an out-of-pocket expense budget for the event. Be sure to include everything you can think of — marketing tools, printing, small expenses for planning meetings, as well as the larger items like venue rental, catering, audiovisual, linens, centerpieces, auction supplies and rentals.
3. Choose your venue with a full understanding of what their rental fee includes. Does it cover tables, chairs, AV, security or cleanup staff? Is there an additional cost for setup time? Will they allow you to drop things off or set up the day before the event, if necessary, at no extra charge?
4. Once you have established your working budget, think of it as a living document. Be informed about the numbers you include, but stay open to adjustments. Don’t be afraid to “Rob Peter to pay Paul” if you decide to spend more in one area and can save in another.
5. Always ask vendors if they offer a not-for-profit discount. Many do, though what they can offer varies — and most are approached by multiple organizations, so be patient and respectful of their limits.
6. Catering is a huge part of any event. From the start, share your budget and vision with your caterer. Let them guide you through the process and make suggestions. Often, what you envision may be outside your budget, but a good caterer will recommend alternatives that create the same impression at a lower cost. Presentation is just as important in impressing your guests as the food itself.
7. If vendors or venues are new to your organization, make sure they understand your mission. Get them invested in your cause. One way to make it a win-win is to offer them a sponsorship opportunity to help offset their costs.

We are in very challenging times for everyone. There are always ways to stay alert and keep your costs under control. The key is clear communication with every vendor about your budget and goals.

About Laurie Streiner: An expert planner who assists all of our clients on how to dazzle while sticking to a budget, Laurie Streiner leads Bistro To Go’s corporate and non-profit events.