What Makes A Successful Charity?
There are many moving parts that contribute to building a successful charity. Unlike a for-profit venture, the amount you can spend on growing a charity and its people is limited. This can make it harder, but by no means impossible, to start a successful charity.
Here are a few of the essential steps that any charity will need to take to be successful.
It may go without saying, but any charity needs a clear and relatable focus to their endeavours. The most successful charities around have a clear goal. For instance, Shelter UK aims to eradicate homelessness and inadequate housing in the UK. Marie Curie’s goal is to provide dignified end of life care to all. While there are many other elements that go into these charities, they have a clear focus and end goal.
Having a clear goal for a charity allows prospective donors to envision the world that the charity hopes to create. A world without homelessness is a hopeful and touching prospect and will inspire donors to dig deep and help them in their mission.
A Unique Donation Experience
Donors are the most important part of any charity. They are how charities become successful, raise money and gain recognition. Successful charities know that donors are more than the financial backing they can provide — they are a crucial part of the fabric of the charity.
Having a unique and memorable experience with a charity can help to ensure that donors remain engaged with them. Some tactics used by successful charities include emails and letters to keep donors informed of where their donations are being used and how the charity is benefiting.
Other charities host regular events to keep donors updated on the work of the charity. This can go a long way to show to donors that a charity sees them as much more than a cash injection and truly values their participation in the charity.
While donations at an individual level are essential to charities, another hallmark of a successful charity is to have diverse funding sources. As with for-profit organisations, it is a considerable risk to have 100% of cash income from one source. Many successful charities rely on other methods of funding, such as governmental grants, crowdfunding, and corporate sponsorship.
A charity cannot operate without a reliable source of income, and as any organisation will know, having too many eggs in one basket is a risky move.
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