Profit Plans: Generate More Revenue from Every Minute of Your Fundraising Event

Posted by Summy Lau on Aug 9, 2016 10:46:00 AM

Use Profit Plans for More Revenue from Your Fundraising EventAs the peak of summer winds down, fall fundraising season is fast approaching. That means it's almost time for many nonprofits' version of the "Super Bowl": the annual charity gala, auction, raffle, tournament and more.

Imagine the doors are open, the ballroom is full, tickets have been sold, and the crowd is ready to support your cause—with bigger philanthropic wallets than anyone ever estimates. You've only got 4 or 5 hours to capture all that money for your cause before it walks out the room at the end of the night.

Time is not your friend, and you don't want to waste any of it.

Where should the money come from during your fundraising event? Everyone knows the most popular income streams: the live auction, silent auction, cash appeals. In fact there are many different income streams to consider:

Multiple Income Stream Tree - Fundraising Event Tactics

In this revenue-generating tree, the leaves represent the money you're trying to raise for your cause. Each root and tendril represents a different potential income stream that could be pulled up during your charity fundraiser.

Bottom line: Profits don't just happen.

To get all the leaves off the tree, organizations need to create a detailed, diverse profit plan now, months before the fundraising event, in the planning stages. And you need someone who knows what they're doing at the helm of your eventsomeone who will use the right tools at the right time to raise as much as possible.

Read on for practical tips to incorporate diverse revenue generators into the night's agenda, plus the answers to a few common questions we've received on the topic.

Cut fundraising "dead zones" out of your agenda

When planning the night's agenda, think very critically of each element in the evening's agenda. Is this producing income and getting us closer to our final fundraising goal?

This can be difficult for many nonprofits; after all, the annual gala has always had a lengthy entertainment portion, a 45-minute speech from the hospital administrator, the presentation of a dozen awards and the same trusty gift baskets and restaurant certificates in the silent auction.

That doesn't mean you can't do better. In fact, thinking outside the box, amping up excitement and streamlining the program will likely be a gamechanger for your event.

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Topics: maximize-fundraising-revenue, auctions, event-production, fundraising auctions

3 Steps to Negotiating a Better Price on Your Fundraising Event Venue

Posted by Summy Lau on Aug 2, 2016 10:37:46 AM

Fundraising Event Venues - Negotiating a better priceAt Winspire News, we are passionate about helping nonprofits generate as much profit as possible from their fundraising events. To do so, we often focus on strategies for nonprofits to increase revenue, but today we're going to look at a way to trim costs.

One of the biggest expenses in organizing a charity fundraising event is the cost of renting an off-site venue. The venue you choose is important; the space sets the tone for the night and goes a long way to making donors feel comfortable, entertained and eager to support your cause.

You want a place that's big enough to hold all your donors, plus glamorous enough to feel like a night on the town...without gobbling up all your hard-earned auction earnings.

Are you getting the best deal for your venue?

In this two-part series, learn how to assess venue options, chip away at venue costs and negotiate even better service in return. (The best part: You don't need to be a tough-as-nails negotiator to benefit from these ideas!)

Step 1: Outline your event needs

As soon as possible before your event, you'll want to appoint a chairperson to oversee logistics of the event like venue and catering. This person would ideally have experience in event planning or hospitality, but more importantly they should pay attention to details and be willing to closely review contract terms and conditions. They will lead the way in assessing sites for your event.

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Topics: maximize-fundraising-revenue, event-production, nonprofit event fundraiser

Fundraising Tip: Maximize your Silent Auction Revenue by Offering a “Buy It Now” Feature

Posted by Ian Lauth on Jan 20, 2012 12:15:00 AM

When it comes to silent auctions, there is a common misconception with both auction planners and prospective bidders that there is one winner for each item. While that may be true for many items on a silent auction table, this is not the case with Winspire’s no-risk travel, entertainment and sports packages. Each of our packages has been developed so that they can be sold multiple times in a single event.

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Topics: maximize-fundraising-revenue, auction-item, charity, non-profit-2, Fundraising Tips, procurement, auction-items, auctions, auction, raising-money, fundraising-tip, winspire-news-2, fundraising, charitable-mission, raise-money, donation, non-profit-news, raise-funds, fundraising-tips-2, auction-procurement, fundraising-success

January Donation Give-Away: Indy-Style Open-wheel Racing Experience

Posted by Winspireme on Jan 12, 2012 2:21:00 AM

We are happy to announce the new Donation Give-Away for January: Indy-Style Open-wheel Racing experience for (1) at your choice of participating locations. Have the need for speed? Feeling adventurous? The Mario Andretti Racing School Experience offers your party of (1) an unforgettable and thrilling racing experience. Mario Andretti Racing School Experience, "The World's Fastest Driving Experience" puts you behind the wheel of a full sized, Indy-style race car. If driving these cars weren't thrilling enough, add the fact that you'll be taking laps on the world's premiere superspeedways.

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Topics: maximize-fundraising-revenue, auction-item, inspired-packages, extreme-travel, non-profit-2, travel-package, Donation Give-Aways, procurement, auction-items, donation-give-away, raising-money, winspire-package, fundraising, charitable-mission, bucket-list, fundraising-tips-2, indy-car-experience, auction-procurement, fundraising-success, travel-experiences

Winning Bidder Experience - Las Vegas 3-Night Stay with Cirque Du Soleil VIP Tickets

Posted by Winspireme on Dec 14, 2011 1:00:00 AM

We wanted to share a comment from one of our winning bidders who recently returned from her trip for two to The Cosmopolitan Las Vegas VIP...

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Topics: maximize-fundraising-revenue, auction-item, inspired-packages, non-profit-2, travel-package, procurement-committe, procurement, auction-items, auction, donation, Winning Bidder Experiences, vip, bucket-list, bucket-list-travel, nonprofits, auction-procurement, fundraising-success, unique-experience, travel-experiences

New Package Announcement: 2012 PGA Championship Experience

Posted by Winspireme on Dec 9, 2011 2:26:00 AM
2012 PGA Championship Experience

We are frequently asked to create unique and exciting sporting event packages. Among the most popular at charity auctions are trips to major golf tournaments. As such, Winspire is pleased to announce a brand new package for 2012:

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Topics: maximize-fundraising-revenue, golf-travel-package, auction-item, inspired-packages, pga-championship, vip-experience, non-profit-2, travel-package, winspire-package, winspire-news-2, charitable-mission, Winspire Packages, bucket-list, bucket-list-travel, sports-and-entertainment, travel-experiences

December Donation Give-Away: Two Tickets to Any American Airlines Destination in the 48 States and Canada!

Posted by Winspireme on Dec 1, 2011 1:00:00 AM
December Donation Give-Away Two American Airline Tickets

We are happy to announce the new Donation Give-Away for December: Two tickets on American Airlines to any of their destinations in the contiguous 48 states & Canada!* Always a hot auction item because of the open-ended nature of the offer, your Non-Profit can use these tickets to round out a previously donated package or as a stand-alone in a raffle or auction. The purchaser of this package can use these tickets to go anywhere American Airlines flies in the 48 contiguous United States & Canada, subject to availability. See the Package Summary below for more details.

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Topics: maximize-fundraising-revenue, auction-item, Donation Give-Aways, donation-give-away, auction, american-airlines, donation, tickets, plane-tickets, airplane, 48-state, bucket-list-travel, travel-experience

Fundraising Tip: Sell One Package to All of the Top Bidders

Posted by Winspireme on Nov 30, 2011 1:00:00 AM
Winspire Fundraising Tip

Several people bidding on the same package? Maximize your silent auction fundraising revenue by accepting the second highest bid and sell the package to the top two bidders. Then quickly go back to the third and fourth highest bidders who may well want to increase their bid slightly to be winners too! More happy winners, more excitement and more revenue for a great cause.

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Topics: maximize-fundraising-revenue, inspired-packages, non-profit-2, Fundraising Tips, Industry News, procurement, auction-items, auctions, Winspire News, auction, raising-money, fundraising-tip, winspire-news-2, fundraising, non-profit-news, Non-Profit, successful-fundraiser, raise-funds, auction-procurement, fundraising-success

Last Chance to Enter the Donation Give-Away!

Posted by Winspireme on Nov 29, 2011 1:00:00 AM
LAST CHANCE to start following Winspire

LAST CHANCE to follow Winspire to become eligible to win a trip to Napa Valley Wine Country!

The drawing for our November Donation Give-Away will take place tomorrow at 6pm EST, so we wanted to take this opportunity to remind you that today is your last chance to start following Winspire to become eligible to win this fantastic VIP package experience. That means you must Like Us on Facebook, Follow Us on Twitter and/or Subscribe to our online newsletter today. If you do all three, you triple your chances of winning.

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Topics: maximize-fundraising-revenue, travel-package, Donation Give-Aways, Industry News, Winspire News, donation-give-away, winspire-package, winspire-news-2, nonprofits, fundraising-tips-2, travel-experience, fundraising-success, unique-experience, travel-experiences

Fundraising Tip: When Asking for Donations Ask for a Second Item

Posted by Ian Lauth on Nov 21, 2011 2:01:00 AM
Ask for two donations

When asking for donations many people don’t think of asking for a second item. Asking for that second donation can greatly increase your revenue in the auction because you can now sell the same item to two people in the auction and double your revenue.

For example if you are able to secure two donated tickets to a major sporting event and sell them in your auction for $200, imagine if you had a second pair that you could sell to a second bidder for an additional $200. You just increased your net revenue from $200 to $400 just by asking for a second pair of tickets.

When asking for the second item, many people will be more than willing to make the extra donation but you first have to ask.

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Topics: maximize-fundraising-revenue, non-profit-2, Fundraising Tips, Industry News, procurement-committe, procurement, Winspire News, auction, raising-money, fundraising-tip, winspire-news-2, fundraising, raise-money, non-profit-news, Non-Profit, successful-fundraiser, raise-funds, fundraising-tips-2, auction-procurement, fundraising-success, procurement-tip

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Meet Winston & Winnie, the Winspire Twins

Winston & Winnie love to help Nonprofits raise money for amazing causes. They also love to travel and have a bucket list of amazing Experiences they are determined to complete in their lifetime. Winspire News is the result of this shared passion, offering fundraising advice, industry news and insight into charity fundraising with travel.