Monetary support for a booster club can happen in a few different ways, all of which have some impact on the club’s overall helpfulness. The best practices for cash support of booster clubs are for a club to create multiple streams of income by choosing different ways to raise money.
Typically, over half of the money raised in a nonprofit group comes directly from individuals. This means that it’s crucial to accept cash donations whenever possible. Donors can make one time contributions or have them be recurring donations; both are great monetary support solutions for a booster club.
Things to keep in mind:
What’s great about today’s modern technology is that you can receive monetary donations online as well as in person. This means that you can reach a much larger target audience to help bring in monetary support for a booster club.
While this does take time and perhaps some money to develop, it can be a long term solution for crowdsourcing. The website can be used as the central platform for multiple landing pages and fundraisers down the road.
While this option may bring you out of your comfort zone and interact with other people, it does make a difference. Encourage your booster club members and students to reach out to local community members to build social relationships that can blossom into direct donations.
Some people that you can ask for donations include:
While donations are a great way to increase monetary support for a booster club, fundraising could be another great way to raise money.
Booster club fundraising is one of the most successful ways to raise money. There are a ton of different fundraising methods that you can use, but some of the best techniques for reaching donors include:
Another booster club’s successful fundraising tool is cash received from membership fees. Not only are membership fees (or dues) proven to be a useful source of income, but they also add to the list of people that you can contact for volunteering time and skills to help run booster club events.
Another idea to raise money for your booster club is to sell merchandise and items. Selling merchandise is made even easier these days thanks to dropshipping, which can be done throughout the year. It’s a great way to get your brand/logo out there and promote your booster club as well.
A few examples of things that you can easily sell:
Besides selling products, you can also sell services such as:
Just make sure that you keep a detailed record of how much of your booster club’s income comes from the selling of goods and services for tax purposes.
While giving money to a booster club is a relatively straightforward process, sometimes non-cash donations could be just as useful as monetary ones.
Some examples can include:
Each of these items has its own set of stipulations set in place by the IRS, so it’s important to read up on the laws and see which apply to your booster club.
While the items themselves may not “be money,” they do hold a monetary value that can be translated into monetary support. Selling any of the items can bring in a good amount of cash to the club.
An example would be if someone donated a used car to the booster club.
To keep everything legal, the booster club would then issue a receipt to the donor based on the value of the vehicle. The donor could use this when it comes time to file their taxes to show that they made a charitable donation. Meanwhile, the booster club would sell the vehicle to another party for the cash value.
Two things to keep in mind:
Something less often talked about as a source of monetary support for a booster club is grants. As a nonprofit, the local, state, and federal government, as well as private organizations, have grants available.
Pro: This is money that would not need to be repaid.
Con: It could take a long time before your booster club is awarded the money.
You have to:
If you win, you have to:
Before your booster club starts applying for nonprofit grants, you should consider:
While some booster clubs may find that grants are an excellent investment for financial opportunities, others may find that they are not their ideal source.
If you would like more information about grants as a support for a booster club, check out this database with more information on government grants.
Corporate and business sponsorships are a great source of monetary support for a booster club because it helps both of the involved parties.
For companies, it helps them to look better in the public eye and improves their philanthropic image. Furthermore, in many cases, they are awarded some advertising placement at a booster event.
Different corporations usually have different programs available; these can include:
It’s best to find businesses that have a good social standing in your local community and that are already giving assistance to schools and programs. This will help you to avoid rejections as they are more likely to provide their support.
It takes a lot of time, money, and commitment to get the right funding sources for a booster club. While there are plenty of monetary sources available, not all of the options may work for you. It’s essential to have a plan in place and find the right income sources that align with your booster club’s mission statement.
Booostr is the first booster club software platform with a connected set of tools designed to help booster clubs and nonprofits better manage their organization. From Communication, to Management, to Fundraising, Booostr's connected software improves booster club efficiency and allow them to focus on surpassing their goals.
