Alternatives to Giving Tuesday: Innovative Fundraising Strategies for Nonprofits
10/16/2023 Stephanie Allgeyer
It’s been over a decade since Giving Tuesday was introduced, providing nonprofit organizations with a significant opportunity to boost their end-of-year fundraising efforts. However, as impactful as this day is, it’s essential that nonprofits don’t put all their fundraising eggs in one (Giving Tuesday) basket. Every nonprofit organization is looking to leverage Giving Tuesday for the health of their organization, and contributors often become inundated with the sheer number of correspondences and asks. Beyond Giving Tuesday, there is a myriad of strategies nonprofits can leverage to maintain a consistent stream of support. Here are some alternatives and creative fundraising ideas that can set your nonprofit apart.
- Host Themed Monthly Giving Days
Monthly giving days can serve as “mini-versions” of Giving Tuesday, spread throughout the year. For example, “Wellness Wednesday” could be an opportunity to highlight mental or physical health causes. “Thankful Thursday” can become a day for supporters to donate and share stories about the difference your organization has made in their lives.
- Peer-to-Peer Fundraising
Peer-to-peer fundraising involves supporters raising money on behalf of your nonprofit. By giving your loyal supporters the tools to fundraise on your behalf, you’re tapping into their networks of friends, family, and colleagues, thereby expanding your reach.
- Host Virtual Events
With the rise of digital platforms, virtual events have become increasingly popular. From virtual 5K runs to online auctions, there’s no limit to the types of events you can host. Not only are these events cost-effective, but they also allow participation from supporters worldwide.
- Implement a Subscription Donation Model
Subscription models aren’t just for magazines or streaming services. Consider offering supporters the option to subscribe to a monthly donation plan. By automating the process, nonprofits can ensure a steady flow of income and offer unique perks or updates for subscribers as a token of appreciation.
- Text-to-Give Campaigns
In an age where almost everyone has a mobile device, text-to-give campaigns can be effective. Promote a specific phone number supporters can text to donate a predefined amount. This method is quick, easy, and can be especially effective during live events or webinars. Similarly, QR codes are a popular method for promoting campaigns. For example, consider partnering with a local establishment to include a QR code on coasters or cocktail napkins.
- Crowdfunding
Platforms like GoFundMe, Kickstarter, and Indiegogo have made it easier for individuals and organizations to raise funds for specific projects or causes. Highlight a particular initiative or story to tug at the heartstrings of potential donors.
- Encourage Matched Giving Opportunities
Corporate partnerships can provide matched giving opportunities, where companies agree to match donations made by their employees. This not only doubles the donation but also encourages participation since donors know their contribution will have twice the impact.
- Leverage Social Media Challenges
The ALS Ice Bucket Challenge is an example of how a simple idea can go viral and raise awareness and funds. While it’s hard to predict what will go viral, creating engaging, shareable content or challenges can significantly boost your cause’s visibility.
- Annual Gala
Although galas are standard in the nonprofit sector, they can be very beneficial when creatively designed. Theme your gala around a unique concept or cultural phenomenon to make it stand out.
- Beneficiary-Led Campaigns
Empower those you serve to share their stories. Whether it’s through videos, blog posts, or social media takeovers, beneficiary-led campaigns can offer a genuine perspective that resonates with potential donors.
Conclusion
While Giving Tuesday is a tremendous movement, it’s crucial for nonprofit organizations to diversify their fundraising strategies to ensure sustainability and resilience. By thinking outside the box and leveraging technology and trends, nonprofits can engage their supporters in novel ways, ensuring they have the resources to continue making a positive impact year-round. For any questions related to this article, please contact Stephanie Allgeyer at sallgeyer@vlcpa.com or call 800-887-0437.
