I wanted to pass along a few key event distinctions that may assist you to better plan and market your next charity event. Or if you are looking to donate time or money to a local charity, this will help too. There are four main distinctions for fundraising events:
2. Foundation Event – An event that is developed by a 501c3 organization (such as a foundation or community organization) that is not directly benefiting from the NET proceeds. A private foundation is a legal entity set up for solely charitable purposes and don’t typically execute social service programs, rather they support those who do.
3. Corporate Philanthropy – An event that is organized by a non-501c3 company in which all or a portion of the NET proceeds will benefit a selected 501c3 charity. Often times a corporation (or a small company) may zone in on a specific need. For example, things like an event to raise funding for a new wing of a hospital or an event that collects donations of food, gifts or backpacks.
4. Hybrid Charity Events – An event designed by a for-profit company or group of individuals with the specific goal to generate revenue. Here the group will leverage a charity’s brand and mission to generate support for the event, then make a (typically unspecified) donation to the charity based on event profits.
And remember that the most important thing about any charity event is that it’s NOTHING BUT NET! There are two sides to every event planning budget, combine the two and you get the NET Income.
- Income – Includes all cash income: sponsorship, ticket sales, auction proceeds (live auction, silent auction, online auction), online donations, cash calls and crowdfunding.
- Expenses – Includes all cash expenses: marketing, venue rental, food and beverage, entertainment, decor, insurance – everything (that isn’t donated) that is needed to execute the event.
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