What is Fundraising and What Events do Companies Organize to Raise Money
Occasionally, you might hear someone say they need to buy a nice dress to attend a fundraising party next week. Even if you don’t know anyone who has attended such parties, or haven’t been to one yourself, you’re sure to have seen it in movies. A bunch of nicely dressed, middle-class people gathered in a warmly lit banquet hall, sipping champagne or red wine from a glass and chatting merrily.
If you’ve ever wondered at the nature of these ‘parties’ and why they’re called that curious name, you’ve come to the right place. Such parties are not thrown simply to stand around and socialize. As the qualifier ‘fundraising’ suggests, they’re thrown to collect voluntary financial contributions for a specific purpose, it can be a production of a new item or a project for starting a whole new business.
When a company or nonprofit concludes that it needs charity donations to fund a project or cause, it typically organizes fundraisers to raise awareness and attract potential donors for such a project. They peruse their network of contacts and invite wealthy individuals, foundations, etc, who can make large donations as special guests to these events. The events can be themed around several things: a party, a game, an auction, etc.
If you’ve ever been to such an event and experienced its glitz and glamor, it might seem strange that so much money is spent to ask for charity donations, but such is the nature of fundraising. Below, we’ll examine a few events companies organize to raise money.
Poker Charity Events
This might sound strange to you, but poker games can be great for fundraising. Unlike the more general term ‘fundraising event,’ charity events are more specific because they are organized mainly to raise funds for charitable missions or causes.
They are usually organized by nonprofit organizations and are typically public events. Ticket sales, auction proceedings, etc, are ways by which revenue is generated.
Nonprofits like to organize charity events around poker games. Poker charity events have become more popular and they help to raise millions of dollars for charitable causes.
You can’t deny that poker is one of the most popular casino games worldwide, and as some professional players would agree, people regardless of their backgrounds, just enjoy playing poker, believing that they can succeed in it. Most of them are thrilled to partake in poker games because they know poker’s reputation as a brainy game and want to test their mental capabilities. Nonprofits see an opportunity to raise money from buy-ins and a percentage of the winnings.
If the nonprofit is highbrow enough, they may take things to another level and invite celebrities to play. Some celebrities like Michael Jordan and Neymar are known to be passionate poker players—and we all know that when celebrities play, they play with high stakes. So, inviting celebrities to a poker charity event is usually a smart move; you can be sure to generate a considerable amount of money!
Golf Tournaments
People often say that golf is a game for rich men. When you think of how expensive club memberships are, you’ll realize how much truth is in that statement. Then there’s the high cost of equipment and apparel to contend with. And let’s not even get into the sport’s history, which dates back to the 15th century amongst Scottish royalty.
All these reasons make the sport just right for fundraising. After all, who better to approach for donations than wealthy men who can afford it? And what better way to stimulate their interest than with a sport they love?
Organizations that organize golf tournaments to raise funds usually require participants to pay an entry fee before the game. Afterward, all or a percentage of the proceeds are donated to the cause.
Benefit Concerts
Imagine how much money a music superstar like Beyonce makes from a single concert. You’ll be staggered by how much it is possible to make from ticket sales alone!
Organizations, especially nonprofits, see this and tap into the opportunity. Remember the Live Aid concert of 1985? Many people remember Queen’s mind-blowing performance, but did you know the concert was organized to raise funds for famine relief in Ethiopia? Yep! And it helped raise about $125 million!
Charity Galas
We’ve already hinted at charity galas in the introduction when we talked about fundraising parties. It’s not so strange when you think of it: people like to party, so why not let them party for a good cause? They get to dress up and have a fun time while supporting an important mission. Talk about a noble way to relax! There’s entertainment, dancing, comedy, etc – and all the proceeds from ticket sales are donated to the organizers.
Closing Thoughts
Sometimes, organizations realize that they need more funds to cover their desired projects. Even with the efforts of investors and partners, they might still fall short. It is times like this that fundraising is designed for. Organizations simply put together an event, like a poker or golf tournament, and fund their projects with proceeds from the event. The show, after all, must go on.
