Fundraising or fund raising which is also called development is the process of accumulating optional contributions of various resources or money by making the request for the donations from the individual people, charitable foundations, businesses, governmental agencies, and many more. But basically, fundraising refers to the endeavors for accumulating money for non-profit organizations. That also known as not-for-profit organizations. Different fundraising forms have different charity regulations.
There are basically various forms of fundraising in general. But in this article we’re going to discuss the following ones:
Capital campaigns are time-limited endeavors by the non-profit organizations for raising the significant amount of money for the particular project plan. Often in this fundraising, the money gathered for renovation or construction of some building. Sometimes this type of fundraising is used for building the foundation for some future aspects.
This type of fundraising includes supporting a company for the mutual gain as well as benevolent giving to the non-profit. But it gets primarily used to support non-profit organizations. They were usually started by non-profit organizations and still continue to sustain.
Online fundraising is getting popular these days. As it is easy to follow and can do multiple things at the same time. Few non-profit organizations are also started using digital cum online fundraising. Digital fundraising should get marketed by various nonprofit organizations. So that people get to know more and more about it. This includes donations processed through websites, mobile donations, giving outcome as a result of emails, email campaigns, social media campaigns, using fundraising websites.
Direct mail fundraising is one of the forms of direct fundraising used often by non-profit organizations to request funds, recruit members or donors for informing, cultivating and upgrading the level of their contributions. To understand the principle, discipline and practice of this type of fundraising is very important in a direct mail campaign.
Grants refer to the amount of money given to the individuals or organizations for a specific purpose. There are about thousands of private foundation and business grant sources available in addition to governmental grants. Governmental grants can be continuous if the need is still ongoing. Organizations that develop the grant, have to keep the data about the grant and manage it in accordance with the expectations and report progress to the grantor.
These are some of the important forms of fundraising. I hope by reading the above article you can able to understand the basic difference between all of them.