The first port of call for funding for a community project should always be your members, supporters and wider local community through fundraising and more recently, crowdfunding.
Raising donations, even small amounts, from your users demonstrates how much support you have and that people are willing to back you with their money. There are plenty of different ways to raise funds, from ‘buy a brick’ campaigns, to social events and sponsorship.
Charities benefit from some extra benefits when fundraising by being able to reclaim ‘gift aid’ from the Government on all donations from UK taxpayers, which is worth an additional 25% on every donation.
A few general points can be applied to all types of fundraising:
As of July 2016, the Code of Fundraising Practice is set by the Fundraising Regulator. It outlines the standards expected of all charitable fundraising organisations across the UK.
In recent years crowdfunding has become an increasingly popular way of funding projects.
Typically achieved via online platforms, crowdfunding involves the collective efforts of people networking and pooling resources to support projects, ventures or initiatives of others. A profile or website is set up, and then using networks such as social media, friends, family and colleagues, money is raised to a set target.