Funding you earn through tickets, box office sales, concessions, memberships, publications, space rental for events, workshop fees, tuition, etc.
- Outdoor events can be very susceptible to weather; you can purchase event insurance to ensure the rain doesn’t dampen your organization’s financial outlook.
- Balance your offerings throughout the season to ensure you have some box office favorites along with the lesser known/riskier/edgier work.
- Many organizations find it more cost-effective to contract with food/gift shop vendors rather than trying to do that business too.
- If your community draws tourists in any number, consider finding local artists who have work that could be sold in your gift shop on consignment. Tourists want authentic and unique local pieces as souvenirs.
- Many non-profits offer classes and workshops to the community. Tuition from these classes should earn you income beyond the cost of the classes. The participants in these classes could be future members and patrons, so cultivate them when you have the chance.
- If you don’t have a membership program in place, consider starting one. This can be a dependable source of funding and makes your supporters feel more connected to your organization.
see Membership Card Template (PDF)
- If you have a space that could be rented to the public for events, consider developing or expanding that as an income source. It may not be a space for wedding, but for business meetings, or other kinds of gatherings. It may be worth a small investment in decorating, planting, and marketing in order to realize funding. Do get legal advice on your rental contracts (Texas Accountants and Lawyers on the Arts in Houston can help) and insurance requirements.
Funding you earn as interest on investments or an endowment.
- These are almost magic dollars once you have them in place, but fluctuate with the stock market, so be sure your portfolio is diversified.
- These are some of the harder dollars to secure, but are â€œalmost magic,â€ so often are worth the trouble.
- If you are launching a Capital Campaign, consider including an Endowment Campaign to help operate the new facility. Some groups have had greater success integrating the two campaigns into one building campaign. Donors give to the new building: 60 percent of their gift goes to bricks and mortar and 40 percent goes to the endowment fund. It is usually easier to find donors for a building fund because of the naming opportunities.