Benefits of Minimum Fundraising Commitments

Increasing your fundraising potential: By setting a minimum amount that each participant has to raise, you ensure that the event generates a minimum amount of revenue for your cause. Beyond that, encouraging participants to exceed their minimum goal by offering additional incentives, prizes, recognition, or perks can take that even further. You may offer a choice of paying $35 to register for the event OR commit to raising $50 and you can register for free. You can also charge a base registration fee and require a minimum fundraising amount to qualify for an incentive like a race t-shirt - register for $25 and raise an additional $25 to receive the shirt at check in.

Enhancing your supporter engagement: By asking participants to fundraise for the cause, you can deepen their connection and commitment to your mission. You can also provide them with a personalized fundraising portal, tips and graphics, and access to a certified run coach. This helps participants feel empowered and confident in their ability to make a difference. You can also create a sense of camaraderie among your participants by sharing updates to their fundraiser pages which can strengthen the organization’s community.

Expanding your donor base: Requiring participants to fundraise for your cause guarantees that you can reach new donors who may not be aware of your work or may not have donated before. You will leverage the personal networks and stories of your participants to inspire and persuade others to support your cause. BoardSource, a nonprofit that provides resources and training for nonprofit boards, suggests that board members should make personal contributions and also ask others to give as a way of demonstrating their commitment and increasing their success in fundraising.

Tips for Implementing Minimum Fundraising Commitments

Determine the appropriate level: Set the minimum amount that each participant has to raise based on several factors, such as the type and size of your event, the cost of participation, the profile and capacity of your target audience, the availability of incentives, and the expected return on investment. Consider offering different levels of commitment for different categories of participants, so that some can pay their own way and some feel empowered to fundraise. Be flexible and realistic in adjusting your expectations based on the feedback and performance of your participants.

Communicate clearly and transparently: Communicate the minimum fundraising commitment and its benefits clearly and transparently to your potential and current participants. Explaining why you are using this strategy, how it will help your cause, what they will receive in return, and what will happen if they fail to meet their goal will help keep everyone on the same page. Along the way, you should also provide them with regular updates on their progress and remind them of the deadlines and consequences. Pledge It makes it easy to communicate with all these participants one-on-one or en masse through our messaging tools.

Provide support and recognition: Provide tools and resources to help participants create and manage their fundraising campaigns, templates, scripts, logos, etc. Pledge It has built in features that provide them with coaching and mentoring on how to fundraise effectively, set goals, make a plan, identify prospects, make asks, thank donors, and more. You can also celebrate their success by inviting them to special events or featuring their Community Updates on your event homepage or social media. Pledge It has easy ways to do all of these things right out of the box.

Minimum fundraising commitments are a great way to boost your charity event by increasing your fundraising potential, enhancing your supporter engagement, expanding your donor base, and meeting donor expectations.

They require careful planning, clear communication, and ongoing support to ensure that they are implemented effectively and that they benefit both your cause and your participants.