Raising Funds

Once you’ve come up with a concrete plan for your commitment, the next step is deciding how you’re going to fund it. Below are a few suggestions on how to raise the funds necessary to make your commitment a reality.

Make a plan and budget

No matter how you try to raise funds for your commitment, you’ll need a detailed fundraising plan and budget. The more professional your fundraising strategy is, the more likely you’ll be taken seriously by potential donors. Start by making a budget for the first year of your commitment: what are the total proposed costs, and how do they break down? Try to keep your expenses as low as possible: could you find a free meeting space on campus, an organization that might let you borrow their copy machine, or a local corporation that could make in-kind donations to support your commitment? Create several different financial scenarios for your commitment. Detail exactly where the money would be allocated under each scenario, and what the potential results would be. Come up with promotional materials and brief reports that detail your plan and budget in an accessible, easy-to-read layout to present to interested donors. Now you’re ready to fundraise!

Raising Funds from your University

Faculty and administrators: From professors to the president’s office, from dining services to your dean of students, university staff can be great resources in getting your commitment fundraising efforts off the ground. Start by identifying key faculty and administrators who might be interested in your commitment. Schedule a meeting to discuss your plans and ask if they know of any fundraising opportunities you could pursue. Professors, deans, and department heads could be particularly interested in funding your commitment if there is a research component to it. Additionally, endowed chairs and other key administrators often have discretionary funds available for innovative student projects and research.

Alumni networks: Many alumni are happy to help worthwhile causes initiated by students from their alma mater. Contact your university’s alumni affairs office and find out how to send a letter, make a phone call, or tap into this vibrant network of potential supporters. They may be able to direct you to specific alumni or alumni networks who are active in the issues your commitment is addressing.

University scholarships and grants: There is a wide range of university organizations that may have small scholarships or grants that could support your commitment. Explore opportunities through student government, the student activities office, relevant departments, your school’s center for community service, or any other like-minded organizations that might have money dedicated to funding new student initiatives with even a small amount of seed money. Also focus on specific university resources that may apply to your commitment. If your commitment addresses global health issues, explore funding opportunities with your school of public health. If your commitment addresses poverty alleviation or peace and human rights, explore funding opportunities with your school of international affairs.

Raising Funds from your Community

Write a letter to family and friends: Start by making a list of 50 people in your personal networks who could be potential donors. Be sure to include family, friends, co-workers, and neighborhood acquaintances. Draft a letter that explains what your commitment is, why it is important to you and your community, and how that person can help you achieve it. Keep the letter short, but speak from the heart. Ask for a specific amount that is realistic for that recipient, and include a return envelope to make it as easy as possible to donate. If you send the letter out via email, be sure to have a link or Paypal account that makes it easy for your contacts to donate online.

Hold a community event: One of the best ways to raise funds and awareness for your commitment is to hold a community event. Whether you choose to host a benefit concert featuring local bands, sell t-shirts at a central location in town, or hold an information session at the public library, a public event will not only raise money for your commitment, it will also raise awareness of your project among your peers and community.

Apply for grants: Research various foundations and other grant opportunities that could potentially provide funding for your commitment. Many larger foundations will not be interested in unsolicited proposals, but many smaller community foundations might support your work assuming it fits within their funding guidelines. Look online for companies and corporate gift programs that might be interested in your commitment. Many large corporations will match their employees’ contributions one-to-one. Check with your existing donors to see if their company has such a policy and you could double the donation. Also explore the possibility of strategic in-kind donations from businesses or corporations in the local community.

Create a website: Even the most basic website or blog can become an invaluable fundraising tool. A secure donation form or Paypal account can enable users to donate to your commitment in a matter of seconds. Your university may have resources to help you build your own website. In addition, be sure to spread the word about your commitment on popular social networking sites. A web presence with information and photos about your commitment can also generate increased buzz and interest in your work.

Contact the local media: No matter how small your school’s newspaper or radio station, press can help raise awareness and funds for your commitment. Be sure to let any members of your college’s media know about what you’re up to. Also get in touch with the local media in your community: you could write a letter to the editor on an issue related to your work, or contact a local reporter on a higher education beat and let them know about your commitment.

Work with local community groups: Reach out to local community groups that address similar issues as your commitment. Attend a meeting or get on the phone with a key representative of the organization to let them know what you’re up to. A local non-profit with a shoestring budget might not give you a seed grant, but they might know of other individuals or organizations who could provide significant support to your commitment.

These are just a few suggestions about how to utilize the resources at your university and in your community to raise funds for your commitment. This is by no means a comprehensive list, but is meant to get you thinking about the possibilities that are out there. Be creative, think outside the traditional realm of fundraising, and be resourceful with the funds you have.

If you have any questions or ideas, feel free to get in touch with us at: cgiu@clintonglobalinitiative.org.