| Special events are a great way to raise money. And | | | | their excitement show up on your bottom line? In |
| a great way to lose money, too. So if you lack | | | | other words, will your motivated and passionate |
| experience planning and hosting special events, or if | | | | guests show their appreciation with their wallets? |
| your non-profit organization does not have a | | | | Most special events that are repeated year after |
| particularly high profile in your community, you should | | | | year take many years to prove themselves. You |
| plan on your budget being big and your income being | | | | need many years of publicity, participation and |
| small. In other words, you should overestimate your | | | | word-of-mouth advertising before your event will |
| costs and underestimate your income. | | | | attract the donors (and their donations) needed to |
| Special events are notorious for going over budget. | | | | raise a significant portion of your annual gift income. |
| Things get overlooked in the planning. Fees, taxes, | | | | You also need to host the same event many times |
| service charges and other hidden expenses must be | | | | before you learn how to reduce your costs without |
| paid that were not accounted for. And then there is | | | | reducing your income. |
| the simple, sheer cost of putting on the event: | | | | Regardless of how much you raise, special events |
| printing, postage, hall rental, lighting, sound, catering | | | | create awareness of your organization and your |
| and more. Budget for more than you'll spend and | | | | cause, and they give you an opportunity to recognize |
| you'll stay out of trouble. | | | | your donors and volunteers and show appreciation. |
| If your special event is new, if it has never been | | | | They do all these things even if you lose money. But |
| tested to see how effective it is at raising net | | | | if your goal is to raise money and not just raise |
| income, you should be conservative when predicting | | | | awareness, then pessimisms is the way to go. |
| your income. You are excited about your event. And | | | | Overestimate your expenses, and underestimate |
| so are your volunteers. But will your guests and | | | | your income, and you can't go wrong. |
| participants be just as excited? And if they are, will | | | | |