Navigating non-profit challenges: the solution for sustainable fundraising
In today’s tumultuous economic landscape, charitable organizations and non-profits are grappling with a host of challenges in order to help sustain their crucial work. Inflation, dwindling funding and increasing demands for services are placing strain on these organizations.
It’s becoming increasingly evident that diversifying funding sources is key to weathering the storm. Non-profits are re-evaluating their strategies and adopting innovative approaches like Stride’s lotteries to maintain sustainable income, ensuring that charitable giving endures even during challenging economic times.
The current state of giving
Funding sources are like shifting sands, creating a challenge for organizations that rely on stability. Although the number of donors have declined, there was a persistent marginal growth in giving dollars in the first half of 2022. However, in the last quarter, data from the Fundraising Effectiveness Project’s Q4 2022 report reveals a decline.
These diverse financial realities reflect the complex landscape in which non-profits operate. Non-profits must navigate the fluctuating tides, making it increasingly difficult to rely on consistent funding streams. Rising costs add fuel to the fire, creating a financial tightrope that must be carefully walked to ensure the quality and reach of services can be maintained.
Stride’s approach
This is where Stride, Canada’s leading lottery management provider, steps in to help non-profits navigate current challenges. Offering a comprehensive and tailored solution for charities and non-profits across Canada, Stride’s innovative approach to lottery and raffle management is a game-changer.
Sustainable funding
Having a steady income enables non-profits to focus on their mission and make a lasting impact in their communities. Offering a subscription-based fundraising option allows non-profits to maintain a sustainable income, and lotteries offer a great way to reinforce cause messaging and gain more players.
Stride’s lotteries aid non-profit organizations in generating consistent revenue by promoting ongoing contributions using a subscription model. By enabling participants to sign up to a monthly lottery, you can establish a reliable source of income and gain stability amidst the dynamic and unpredictable fundraising landscape.
Scalable lottery initiatives
Fundraisers require clarity regarding performance in order to make informed decisions and optimize outcomes for scaling purposes. By investing time to deeply understand your organization, the Stride team crafts a tailored solution that aligns with the unique needs of each organization and evolves it over time to ensure consistent, optimal results that cater to the preferences and interests of lottery players.
The Stride team collaborates with you to unlock the full potential of your lottery and drive continuous improvement by offering valuable insights into ticket sales, buyer demographics and marketing efforts. Armed with this data, you will have a comprehensive understanding of your lottery initiatives’ performance, enabling you to scale them effectively over time.
Maximized net proceeds
Incorporating a lottery into your fundraising mix can serve as a powerful method to complement existing efforts and unlock the maximum revenue potential for your non-profit. Lotteries offer a convenient way to contribute, leveraging your current donor base and attracting individuals who may not typically support your cause. By offering enticing prizes such as a cash jackpot, you can generate genuine excitement around your mission and establish an exceptionally effective fundraising channel.
The Stride team conducts comprehensive research to develop a customized lottery tailored specifically to your organizational needs. This involves recommending the optimal project size, ticket structure, campaign theme, prize package, timelines and marketing strategy. Stride’s objective is to assist you in achieving your financial goals while creating an engaging experience for lottery participants.
With Stride, non-profits can overcome economic challenges, diversify their revenue streams, and ultimately thrive in their mission to make a positive impact on society. Contact us for more information.
