Purpose
The most important principle is identifying the reason for fundraising (Barden, 2013). It is evident that the people in the society will give out their financial resources with the intent of helping others. In this regard, there is little chance of raising money when it is only meant for selfish benefit.
Identify your prospects
The second most important principle is the identification of prospective donors (Garecht, 2013). This aspect looks into various qualities including availability of money to offer to the fund, belief that the issue or program is essential for the society, and having some significant contact with the board members or staff.
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Gift range chart
The third principle is that the nonprofit organization should create a plan as to how the identified donors will provide funds required to carry out the program or issue. A gift range chart effectively outlays this plan and is pushed by the key members of the organization to realize it (Shufflebarger, 2013).
Relationship
The fourth most important principle is the use of relationships with the donor to woo them into offer funds that will help overcome the societal problem in question. This calls for minimizing the professional aspect of fundraising (Wooster, 2014).
Matching prospect and timing
The final principle is the ability for the organization seeking to raise funds to find the optimal match by the right person asking the right prospect for the ideal amount for the right project at the right time using the most appropriate techniques (Barden, 2013). This practice will help the organization reach its goal in a short time.
Alternative Principles
The organization should note that it is necessary for one to spend money to raise money. In this case, the nonprofit agency should spend money wisely by keeping close contact with donors and advertising the issue to raise awareness while attracting more willing participants. Another principle to consider is running the fundraising like a business to achieve the success or risk complete failure. In this practice, professional fundraisers are to be hired to plan, make decision, and keep-records of the organizational practices.
References
Barden, P. (2013) 12 Principles of Fundraising . NonProfitPro, Retrieved from http://www.nonprofitpro.com/article/12-principles-fundraising/all/
Garecht, J. (2013) The 5 Key Principles of Effective Online Fundraising . Bloomerang, Retrieved from https://bloomerang.co/blog/the-5-key-principles-of-effective-online-fundraising/
Shufflebarger, D. (2013) Three Basic Principles of Development . Fundraising Counsel, Retrieved from http://www.fundraisingcounsel.com/fundraising-blog/fundraising-advice/three-basic-principles-of-development/
Wooster, M. M. (2014) Excellence in philanthropy: The birth of big time fundraising and the rise of national nonprofits . Philanthropy Roundtable, Retrieved from http://www.philanthropyroundtable.org/topic/excellence_in_philanthropy/the_birth_of_big_time_fundraising
