‘I want to pursue my charity’s mission, but I don’t have the means to do so. Where can I find funding?’
Once registered with the ACNC and the ATO, a charity is poised to pursue its mission and fulfill its purpose. However, many charities find themselves at a standstill due to one crucial factor: funding.
While securing funds may not be a direct part of their charitable purpose, it is the essential lifeblood that enables a charity to carry out its mission. Without adequate funding, even the most passionate and well-intentioned organisations can find themselves unable to take meaningful action, leaving their vision of making a difference unrealised.
This is why fundraising and gaining capital is core to a charity’s success. If a charity wishes to fundraise, the charity must apply for a fundraising licence or authority through the relevant fundraising body in each state. In Victoria, a charity must notify the Consumer Affairs Victoria (CAV) (with exceptions to some types of charities), and must oblige by regulations, such as the Fundraising Act 1998 (Vic) and the Fundraising Regulations 2019 (Vic).
In order to receive funding, though, charities can go about any number of different avenues. In this day and age, with advanced technology and instant communication at our fingertips, we can achieve so much.
Here are a few ways for your charity to find funding.
Donations
- Direct contributions from individuals, corporations, or foundations, often through online platforms, events, or mail campaigns.
Grants
- Financial support from government bodies, private foundations, or international organisations specifically aimed at funding charitable projects or operations.
Fundraising Events
- Hosting events like galas, auctions, charity runs, or dinners to raise money from participants and sponsors.
Membership Fees
- Charging a fee for membership to supporters who wish to be part of the charity’s community.
Sponsorships and Partnerships
- Partnering with businesses or corporations that provide financial support in exchange for brand exposure or other benefits. Additionally, corporate partnerships allow collaboration with companies that provide donations, grants, or other resources as part of their corporate social responsibility initiatives.
Merchandise Sales
- Selling branded goods, such as T-shirts, mugs, or other products, where proceeds go towards the charity’s mission.
Crowdfunding
- Using online platforms to raise small amounts of money from a large number of people for specific projects or causes.
Social Enterprise Activities
- Engaging in business activities, such as running a charity shop or service, with profits directed towards the charity’s goals.
Social Media
- promoting awareness of your brand through social media is incredibly important, as this spreads your message, engages users of such social media, and potentially bring individuals to give donations to your cause. To achieve this, you must ensure that, on whatever platform you use, your brand and information appear legitimate and inviting to users. Paid advertisements online of your charity also help to increase awareness.
In conclusion, securing funding is the cornerstone of any charity’s ability to fulfill its mission. While passion and a clear vision are essential, they alone cannot sustain the work of a charitable organisation. By exploring various funding avenues—such as donations, grants, fundraising events, and partnerships—charities can build the financial foundation necessary to drive their initiatives forward. Additionally, leveraging modern tools like social media and crowdfunding can amplify your reach and connect you with a broader audience of potential supporters. With careful planning and a diversified approach to fundraising, your charity can overcome financial barriers and make a meaningful impact in the community it serves.
With many years of experience helping to create charities, get in touch with Warlows Legal today using the contact information below.
