One of the questions I am most often asked by charities and other organisations is how they can cover their core costs.
There are, of course, individuals and trusts who do prioritise their support for day to day running costs, recognising that these are vital to the broader work that you do. However, it is fair to say that such funders are rare, with most preferring to fund ‘front line’ or ‘new’ work.
This can be very frustrating, after all, how can you possibly do all the things you want to if you can’t even pay the phone bill or buy a PC for example?
The problem is not new and , don’t panic, there are ways that will help you address it. Here are three concepts that may help:
- Take time for Donor engagement. Just because most donors may seem initially reluctant to cover such costs does not mean no donors ever will. Talk to your key supporters about the problem and ask them if they can help.
- Aim for Full cost recovery. Think about including an element of these costs in fundraising applications for each of your projects, after all you need things like light and heat in the building to do the exciting and worthwhile things you do.
- Explore opportunities for Income generation. Could your projects or activities generate part or all the revenue they need or could you start a business that could produce unrestricted income? You may be surprised how much people will pay for what you can offer.
If you would like to talk about how your charity or organisation can raise more core funding, do get in touch.