Paper on Fundraising, Budgeting, Marketing, and Nonprofit Management: Key Insights

Fundraising Techniques and Approaches, pg.155

In any nonprofit organization, there is a need to raise funds from the public and donors to support their activities (Grobman, 2015). The fundraising concept is one of the main differences between government and profitable organizations and nonprofit organizations (Grobman, 2015). There are several rules and concepts around fundraising, but the significant need is to ask for the right amount at the crucial period from the right people. Funds are raised from people who have many to give away and precisely those who value the activities of the organization. Moreover, the non-profit organization gives sensitive information that pertains to the private sector; this enables them to gain funds and support from a private organization.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Order now

Budgeting Techniques, pg.155 and pg.156

In effective fundraising, there has to be a reasonable budget (Grobman, 2015). The budget is supposed to answer questions regarding the funds required to run the yearly activities of the organization. Furthermore, will it also be enough to cater for the staff’s payment? These budgets include low-end, middle-end budget, and high-end budgets.

Types of Budgets, pg.155

The first budget (low-end budget) is the budget that assumes that the organization may fail to conduct its activities effectively if the revenue provided does not meet all the expenses. The second budget (middle-end) seeks to meet the most likely/possible amount of funds to collect from the fundraising sources. Finally, the high-end budget is the budget that assumes that the organization will be in a position to cover all its debts and expenses; this is driven by an optimistic mindset of the management. To get available resources, there have to be three prepared budgets; a low-end budget, a mid-range budget, and a flagship budget.

The Essence of Marketing, pg. 167

Financing the nonprofit organization can also rely on other means apart from the fundraising concept (Grobman, 2015). Marketing is an example of another service that can be used to create funds. The bodies can either be an organization to an organization or an organization to an individual. The transaction involves the exchange of goods and services with money to the nonprofit organization.

Adherence to Company’s Mission, pg. 167

However, despite the origin of the funds, when in the organization, they have to be used towards attaining the company’s mission. Other uses the company can invest the money to is by paying the overhead and also increasing the availability of their services and goods to the people who cannot afford them.

Marketing Strategies, pg. 167

For successful marketing, there have to be two crucial mechanisms; develop the intended message, and deliver the information to the targeted audiences using some means (Powell & Bromley, 2020). Further, the successful implementation of a marketing strategy, research has to be conducted before embarking on the marketing journey (Grobman, 2015). The research is vital in that it helps organizations decide the most effective way to communicate their message and what is the best message (Thomas, & Strom-Gottfried, 2018).

Changing Marketing Strategies, p.g. 168

The 21st-century technological advancements have provided reliable means that organizations and stakeholders can connect. Having a subtle yet resilient marketing strategy helps the organization stay afloat in the provision of its goods and services, which it should provide for free or otherwise subsidized.

Nonprofit Marketing, pg. 168

Another component that is necessary to keep the pace of the organization in a highly competitive business is an active marketing plan. The high competition is stiff in large organizations that are nonprofit such as universities, colleges, and some health facilities. Despite the organizations being nonprofit, some have budgets that surpass the billion-dollar cap, and also, they seem to have the same aggressive nature when marketing their products and services as their counterparts in the for-profit organizations.

Marketing and Fundraising Differences, pg. 169

There is a distinct difference between marketing and fundraising in that when it comes to fundraising, the contributors have the drive to give the funds and expect nothing in return and do not also directly earn profits from the donations made. In marketing, the organization has the prowess to convince a person or a firm to conduct an exchange of their money with the organization’s goods and services, where the organization selling the services can use the funds from the transaction on whatever they deem necessary. Through a lighter perception, it may seem that there is no line between marketing and fundraising, but through a more concentrated perspective, the line appears.

What Non-profit Market, pg. 170

Several aspects can define or describe the topology of organization marketing. These topologies include; goods, experiences, group benefits, concepts, services, and programs. In the case of nonprofit organizations, they have to do what is required to be able to meet their sustainability goals, especially in times of low donations from the stakeholders and the government when there is an economic crisis (Grobman, 2015).

How Non-Profit Market, pg.171

Marketing is defined as the processes and activities of creation, communication, delivery, and exchange offered to society, partners, and clients (Grobman, 2015). Marketing in nonprofit organizations' perception can be described as activities that an organization carries out to develop and improve its services that end up being a transaction between two bodies (Grobman, 2015). Some of the conventional methods used in nonprofit marketing include; paid media, commercial media, direct marketing, and owned media.

Researching the Grantor, pg. 183

In every field where there is money to be distributed, there is competition. In the field of nonprofits, the fields are competing aggressively to win the government funds, the corporate, and the foundation funds (Grobman, 2015). One strategy is the seeking and implementation of grants. In recent times, companies have adopted a plan through which they hire people who have specialized in the grants field and can quickly obtain the grants. However, the plan is only usable to the companies that have enough resources to undertake the venture. For the grant managers, the relationship between the organization and the stakeholders or the granters must remain collaborative.

Grant Applications, pg. 184

The organization may have perfect plans, but the stakeholder needs to see creativity, dedication, and vision. It is recommended that in writing a grant proposal, abandon the begging tone and convince the grantor to become a member of the efforts towards a better substantial, and fruitful community (Thomas, & Strom-Gottfried, 2018). Some firms are on the frontline in the applications for grants because the money is available, but the plan may lead to the rejection of the grant. For a successful grant application, the organization needs to ensure that the resolution of the grant is unswerving from the organization’s mission.

Main Sections in Grant application, pg.186 to pg. 190

Due to the competition, organizations need to come up with new strategies that will provide an alternative source of funding. This sourcing must be convincing and motivating the targeted groups (grantors). Several sections need to be included in a grants application form and they include; cove letter, executive summary, introduction, needs (self-generated data, census data, state agencies, county planning, or others), objectives, projects description, budget, and evaluation.

Duties of Financial Management, pg. 195

The financial future of an organization is dependent on the organization's board efforts to fulfill its financial obligations (Grobman, 2015). The efforts of the board include payments of the company's obligations, capital investments, and planning its future endeavors. An organization that has effectively implemented its financial plan can not suffer as much if complications arise from the donations or grants. It is necessary for the organizations to strictly limit and observe how their capital is used and take the necessary steps towards the individuals in the company that may use the resources for personal needs (Bryce, 2017).

Leadership in Financial Management, pg. 196

The actions are necessary to avoid mishaps that may be witnessed during the difficult financial times in the firm, the pressure from the board and the organization's leadership makes sure that every resource allocated to the organization has been spent responsibly, and it was used to further the mission of the organization. However, things are changing as now even the donors require to see an efficient allocation and use of their resources in the organization, with the desirable outcomes visible and real progress as well.

Organizational Personnel, pg.219

In any nonprofit organization, human resource is an essential component in the success of the organization. The head of the organization, who mostly has the title of executive director, can drive the organization in any direction, influencing the confidence, image, and the financial constancy of the organization. However, the leader alone does not have the power to contribute to the missions and visions of the organization entirely (Grobman, 2015).

Two sides of Organization Personnel, pg. 221

The contribution of the employee can either be negative or positive through which the employee can either be inventive, developing, adaptable, resourceful, and ambitious or can turn towards being unruly and disparaging, which in turn compromises drive and creates humiliations that taint the image an organization has taken a long time to build.

Communication and Public Relations, pg. 251

The policies associated with communication and public relationships must be sufficient for several reasons. One, the nonprofit organization can use the platform to show that its actions are in line with the mission statement and will promote the organization (Grobman, 2015). Second, strong communication and public relation will construct a firm image to the public about the organization, which will be valuable in creating and sustaining the donor base, enticing donations, and contracts.

Public Relationship, pg. 251

Public relations is vital in that it sheds a positive light on the organization, and the positivity enables the organization to appeal to the public’s support.

Lobbying, pg. 263

There have been some concerns that lobbying is illegal; however, it is perfectly legal, and in nonprofit organizations, it is encouraged. Lobbying is a form of communication with individuals in power with the primary resolve of manipulating legislation and further public policies(Grobman, 2015). Organizations that work towards improving the lives of the poor, and the disenfranchised groups in the community, environmental conservation, disabled programs, or hold the government accountable employ lobbyists to carry forward their agendas.

Nonprofits and The Internet Age, pg. 275

Internet connection has become a paramount necessity for both for-profit and nonprofit organizations. The 21st-century circulation of information relies mainly on electronic means like emails, social media, and mainstream media broadcasting (Grobman, 2015). The channels have enabled relaying data from a central point to reach multiple audiences at the same time and with minimal barriers. The three most common methods of internet users are social media, websites, and email.