Maximizing Social Impact: Fundraising Strategies for NGOs and Nonprofits (Full Transcript)

Speaker 1: Hello, my name is FY Ellence Eje with Social Impact Consulting. We're a development consultancy firm that works to maximize social impact. To follow us on social media, get us on Facebook and Instagram at Social Impact Consult, or Twitter at Social Impact Co-1. If you're watching this on YouTube, please subscribe and click on the notification at the bottom to get more videos like this. Now we're going to be talking about fundraising. This is like the biggest topic in NGO sector. In the development sector, everybody wants to know how they're going to raise funds. The topic is vital to sustainability and the viability of your nonprofit. There are two types of funds, restricted funding and unrestricted funding. Restricted funding are the financial resources given to you by a donor or a corporate sustainability partner that is directly earmarked for a specific program or project. Unrestricted funding is what an organization uses to raise funds for the sustainability of the organization. Organizations can use unrestricted funding for things such as vehicles, real estate, capacity development for staff. So in order for you to embark on these types of funding, the executive director needs to do the following. One, begin networking and send out proposal at least a year prior to attending funding from an organization. This is to ensure that you know exactly how much your organization needs to run in one calendar year. Identify donors whose strategic objectives are aligned with your organization's vision and mission. There are various platforms you can use such as DevEx, Funds for NGO, theunitedstatesgrants.gov and other websites to identify various requests for proposals which is commonly known as RFPs. What is more effective is networking events. There are donors that accept unsolicited proposals while others don't. They would need proof of successes and or credibility from their colleagues to trust you with their funding. For unrestricted funding, you can be very creative with this kind of funding. Events, crowdfunding campaigns can aid in providing extra funds that can be used at the discretion of the organization for various operating costs. For more information about fundraising, you can order my e-book, How to Start and Run a Sustainable NGO in Nigeria or book a coaching session with me on my website at www.socialimpactng.com. My question to you is this, how have you been fundraising for your organization? Do you use restricted funding through grants, through donors or unrestricted funding through creative ways like conducting events, crowdfunding campaigns and other initiatives to raise funds? Let's hear it in the comment section. Thank you.