Taking advantage of the new tax bill to increase revenue for your non-profit.
The House and Senate just passed the new tax bill and President Trump signed it into law. This takes effect in 2018 which means a change to how much financial support you may receive. This is a great opportunity for non-profits to increase fundraising. Individuals and families will need to find a new way to compensate for the decrease in local taxes as a deduction so they can decrease the amount they have to pay in taxes or increase the amount of a tax refund they receive.
Here are three ways non-profits can take advantage of the current tax situation to gain more revenue from their supporters.
1. Increase the amount of fundraising events offered throughout the year. In the winter months, unique events could include: a gala or dinner dance, beef & beer gatherings, casino nights and comedy nights. At these types of events, non-profits can increase revenue by having a silent or live auction with sports & entertainment memorabilia, jewelry and travel experiences. In the spring and summer months, a golf outing is a great way to gather your supporters for a nice day out on the golf course. In most cases, you have a lunch or dinner to offer your golfers. Great enhancements to a golf outing is to run a silent or live auction during the meal at the golf outing. An alternative would be to find sponsors to allow you to purchase hole in one prize packages & hole in one insurance at no cost to the non-profit. Hole in one prize packages allow your golfers to have the opportunity to win a prize for shooting a hole in one. A non-profit could give away a cash prize, a travel experience, car or motorcycle to name a few.
2. Not every non-profit has the capability of running multiple events throughout the year. Another option for non-profits is to offer a special product during the year either with a donation or as a purchase. A Family Fan Photo Frame or Paw Print Cut-Out Kit to add family/pet pictures is a favorite. If you are looking for something specific to your charity, a custom frame kit can be created.
3. Non-profits can leverage a local establishment to host a fundraiser without planning an event. For example, an instant auction can be set up, where individuals can purchase products displayed at the establishment (restaurant, hotel) with a portion of the proceeds going to the charity. If a non-profit does not have local establishment to work with, an online instant auction will allow you to have your supporters purchase products through a website, without going to a specific location.
Memorabilia for Charities and MFC Event Management look forward to the opportunity to support your non-profit fundraising efforts.
#IncreaseRevenue #Fundraisingideas #GOPTaxBill #SilentAuction #FamilyFanPhotoFrameKitFundraiser #InstantAuction #OnlineInstantAuction #HoleInOneInsurance #HoleInOnePrizePackages #GolfEventSponsors