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Fundraising in Sports Midterm
Terms in this set (26)
The action of raising funds to be used in a supplemental way for the betterment of a certain person, organization or group.
Organizations hold yearly or time scheduled fundraising events that are in place to bring monies into the organization at a pre-expected time.
Amoral compass that guides a persons behavior, while values are what makes up that moral compass for individuals.
Fundraising Code of Conduct
Revolve around the ideas of transparency and honesty with all donors/benefactors. It is very important for a fundraising organization to keep in mind that they are essentially servicing their members/donors needs and wants.
5 Advantages of Developing a Fundraising Plan
1. Better allocate future funds
2. Brings departments in the org. Together.
3. Puts resources where they are needed most.
4. Develops attitude of optimism around event.
5. Give organization a competitive advantage over other organizations.
4 Disadvantages of Developing a fundraising plan
1. Can take a lot of time to create.
2. Needs to be adaptable because things can change on the fly. If a plan isn't adaptable then it will most likely collapse.
3. Can scare away current donors who are used to the current way that things are done by the organization.
4. Can trigger anxieties in the organization because fundraising plans can sometimes truly show how desperate an organization is.
Single Use Fundraising Plan vs. Standing Fundraising Plan
Single Use: Designed to be used only once and then never again. An example of a single use fundraising plan could revolve around a new virtual event that will be created to generate funds to cover some of the losses due to COVID-19.
Standing: A more comprehensive plan that encompasses all the actions of an organization. A standing plan can outline revenue expectations for the year and will be kept in the forefront of continued efforts. This is different from a single-use plan which is tailored for only one event/set of circumstances.
Fundraising Cycle 5 Steps (Ch.2 DBQ for info)
1. Develop the constituency (donor group)
2. Cultivating the Donor
3. Making the "ask" (for money)
4. Getting the gift
5. Renewing the gift (thank you card) and repeating the process.
Relates to collegiate fundraising since 10 percent of your donors can generate 90 percent of the total fundraising assets accumulated.
Job Description: 6 Components
1. Official Title of the Position
2. Summary of the position
3. Functions of the position
4. Approximation of the percentage of the types of tasks required while working.
5. Authority of the position.
6. The accountability and the reward system for the fundraising program
The certain tasks assigned to an employee
The freedom of an employee to act at their own accord while working the position.
What does Human Resources in an organization include?
staffing, orientation, training development and performance evaluations
Internal Sources for Fundraising Personnel
Re-hiring staff that have worked events in the past and using current employees
External Sources for Fundraising Personnel
Advertising for employees, and networking sources in a particular sport or conference
Steps to MBO evaluation (management by Objectives)
1. Set a manager or supervisor to be in charge of setting organization wide goals for accomplishing the objectives of the department.
2. Meet with each employee and specifically outline these objectives so everyone is on the same page for accomplishing the MBO.
3. Meeting periodically after this is crucial to checking up to make sure tasks/goals are getting done.
4. Setting future objectives to make sure future goals keep being met.
360-Degree Evaluation Drawbacks
1. Personalities can be overemphasized in 360-degree evaluations.
2. Forms must be conducted separately for each member of the organization which can be very time consuming.
3. Individuals' self assessment may not be based in reality since it has the opportunity for bias.
Positions on the Board of Directors (some not all)
Chairman of the Board, Chairman of the Committees, legal advisory, budgetary and voluntary positions.
Reasons People Volunteer
values, understanding, enhancement, career, social, or protective reasons.
Ways that Board of Director's supports volunteer participation
1. Devoting time to volunteer issues while in board meetings.
2. analyzing data about volunteer involvement.
3. participating in volunteer recruitment
4. Take part in volunteer recognition
5. Make volunteers visible
6. Form a special board committee for volunteers.
7. Put thought into Volunteers
Seven External Environmental Factors for Organization
technological factors, natural, social, economic, political/legal and demographical.
Five Forces Model
The five forces model helps for a business to analyze a market for competitive attractiveness. Basically it is used for businesses to judge how much room there might be for competition in a certain industry. The first aspect of the five forces model to analyze the power of suppliers in a certain market to find the one supplier that can give an organization the best quality product for the lowest price. The bargaining power of buyers is the second factor and widely useful to making sure that there are donors who are motivated to donate and figuring out the specific ways to get these donations. Substitutes is the third factor that examines the amount of competition for a fund raising organization who is planning to enter into the market. Rivals among existing fund raising programs is another factor that is important to establish who is already succeeding in the market that an organization is trying to enter. New entrants is the final factor and necessary to make sure that another larger organization with more funding isn't on the horizon ready to enter into the new prospective market.
4 P's Marketing Mix
Placement, Product, Price, Promotion
Three Major Advertising Media Avenues
newspapers, television and social media.
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