The real cost of events“Let’s hold an event – we can make lots of money for our non profit!” Are you sure? If you’re considering an event, make sure you are clear on all of the reasons and costs of doing so. Events can be part of your fund development program, but they shouldn’t be seen as the be-all and end-all of your fundraising. Events can be used to raise awareness, engage with your donors and friends, and sometimes they even make money. When you’re calculating your net profit, do you count your staff time? If not, you’re missing the true picture. If you have two or three people working many hours on the event, they are missing other fund development opportunities. They could be meeting with your major donors and sponsors to engage them further in the organization, which could ultimately lead to larger gifts and sponsorships. They could be researching prospective donors. They could be working on your direct mail program. In other words, you should be reviewing your entire fund development program, and taking stock of the real cost of your events. Laura Mikuska
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