There are several ways to fund a school club: parent pay, sponsorships from local businesses or through revenue earned from fundraising. This week’s post will provide advice on how to go about fundraising and next week’s post will include fundraising ideas based on the club goals.
Whether Club Advisor’s choose to seek sponsorship from local businesses and organizations, organize a fundraising event, or provide a service, fundraising enables club members to develop planning, presentation, organization, communication, and leadership skills.
Fundraising allows your FLY Math Club chapter to raise money for club activities, membership dues or help support another cause while teaching students financial goal setting and money management. Fundraising can also help to create camaraderie in FLY Math Clubs as members work together to organize events with other students coming together to enjoy them.
So, your club members want to raise money, and you’ve decided you want to arrange a fundraising event but not sure about what to do next?
Quick recap: To ensure a successful fundraising year, have your club members answer the following questions:
Define the purpose: Will students raise money to pay for club membership dues, take an end of year field trip or to donate to local cause?
Set a goal: Determine your funding goal and the purpose of the fundraiser. Defining the purpose of fundraising is important because it will assist in determining which fundraisers to host to reach the goal.
Determine the audience: Who will support the fundraiser? Will students, parents or teachers participate?
Set deadlines: Determine which fundraising event to host and when the event will occur. What supplies or donations are needed to host the fundraising event? When will the fundraiser be held? When will you need to begin marketing? How far in advance do you need to get permission from stakeholders (ex: principal)?
Assign responsibilities: It’s important students play a significant role in fundraising events. Who will help with posting flyers to advertise the fundraiser? Who will track income and expenses? Who will keep club members motivated and working hard toward their goal?
Gather resources: Obtain the supplies and donations needed to execute the fundraiser. Unless all needed supplies, prizes, and promotional materials are donated, club advisor’s need to consider expenses and how to cover fundraising costs.
Advertise: How will club members get the word out about the fundraiser to their desired target market? Do club members need to post flyers? Do club members need to advertise the fundraiser during morning and afternoon school announcements to build excitement? Will parents need to receive a notification letter to request permission for their child to participate.
Execute: Now that planning is done, it’s time to launch the fundraiser. It’s important to use a portion of club time to discuss progress to goal so students can monitor their success.
Report success: Have club members determine the club earnings and measure progress to goal. Club members should thank supporters and report the results including the amount of money raised and how the funds will be used to stakeholders (ex: school and parents).
As you can imagine, fundraising can be beneficial in helping a club remain sustainable. Whether club advisors decide to host fundraisers to pay for membership dues or to take students on a field trip, fundraising can make those dreams become reality.
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