With a limited number of fundraising events each year, it is important for nonprofits to choose events that will maximize their revenue while minimizing their expenses.
A survey by Software Advice of roughly 100 nonprofits who had conducted at least one major fundraising event event in the past year showed that while Fun Runs/Walks can be an easy revenue generator, charity auction events still generate the most money.
Why is that?
Fun runs/walks were found to be one of the easiest events to plan largely due to the fact these events require minimal administrative coordination. They also include built-in crowd-sourcing fundraising methods, empowering the participants to generate their own donation stream.
That said, the most profitable special events - those with the highest return on investment (ROI) - were still charity auctions according to most small and medium-size nonprofits (with revenues of $50 million or less).
What else did you find?
In addition, the survey also inquired about the tools used by nonprofits to plan and manage their fundraising events. Surprisingly, nearly half of the respondents said that they still use handwritten notes for planning, tracking and managing events - which clearly is creating challenges in their ability to plan larger events.
It's time to bring that old auction binder into the 21st century!