Why Are Sponsors Important for Nonprofits? Top 3 Benefits
The short answer? Very. When it comes to planning and executing your nonprofit’s event, the mix of sponsors can be the difference between failure, success, or wild success. Developing those sponsors, however, isn’t simply a matter of snapping your fingers. Instead, it takes careful planning, strategic thinking, and most importantly, tending to vital relationships. In this post, you’ll learn how to start planning your event with an eye towards sponsorships, you’ll get tips for finding sponsors, and advice on how to maintain those sponsors once they commit. But before we go too far, it’s important to understand the three different ways sponsors can contribute:
CASH DONATIONS
- These sponsors give cash you can use to underwrite event production.
IN-KIND DONATIONS
- Instead of cash donations, in-kind giving covers 100% of the cost for goods or services. Think catering, event advertising, equipment rental, etc.
ONE TO ONE DONATIONS
- A one to one sponsor will match your purchases. For example, if you spend $100 on food, advertising, etc, this sponsor would give you $100.
Now that you know the forms sponsorships can take, it’s time to start planning your event.
