Strong financial management and income generation are key to the success of any organisation. Focusing on fundraising and financial management, the Development Charter provides tips and practical advice on how to grow your organisational income and manage your money.
The management of finances is a critical part of running your organisation. As well as ensuring that your funds are collected and used as effectively as possible, it is often used as an indication of the health of your organisation by funders.
The key areas to focus on are:
- Tracking finances
- Reserves (how much you keep back for emergencies)
- Controls (who has permission to spend, their limits and who checks to make sure that the money is being used properly)
To get you started, we have published a few guides, including a Treasurer role description and budgeting templates.
The most important element from the outset will be to establish and articulate why people should invest in your organisation and what will they receive in return. Will their contribution make them more loyal to you, will it create an emotional connection, will they receive something physical in return (such as a playing shirt or training session) and how will you recognise their contribution?
Funding Top Tips Guide
Writing funding applications can be daunting for some, which is why we have put together a Funding Top Tips document to help you put together a successful bid.
If you would like support in writing a funding application, examples of successful funding bids for small and large grants or require a letter of support, please contact your relationship manager.
There are several national and local funding programmes that you may be able to access. Small grants (less than £10,000) are usually support activities (called “revenue” projects), often contributing towards equipment, coaching or training costs and recruitment drives. They typically do not fund facility upkeep, administrational staffing costs or existing activities. Large grants (more than £10,000) usually fund capital projects (fields and buildings) or for larger scale revenue projects (running costs involving people and new activity). In some cases, a funder will give a large grant for both capital and revenue. Speak to your relationship manager for information on local funding streams, further guidance on applications or for a letter of support from BaseballSoftballUK.
Below are some fundraising examples your club or league may wish to consider:
- Digital Fundraising is the fastest growing fundraising method and takes many forms. It can be as simple as adding a donate button to your website, or it could extend to more extensive social media campaigns.
- Sponsorship can be a great way to generate income and form a partnership with a local business or organisation. It isn’t free money, however. It requires time and resources to be successful and it should be seen as a mutually beneficial relationship between your club and the sponsor ideally run over a period of years with regular review.
- Raising Money from fundraising and social events can be a great source of income as well being an excellent way to bring your members together. Involving members other than the committee to organise events gives them the opportunity to feel they are doing their bit to support the club. Ideas can range from sponsored challenges to quiz nights or introducing ‘in-game’ ideas.
- Crowdfunding is a great way to generate income from a large group of people over a limited period of time, typically online. On average, 'donation' or 'reward-based' flexible-funding campaigns generate between £7-15,000 with donors each pledging £25. If you'd like to explore crowdfunding as a concept, understand how to plan your campaign, define your audience and which platform to use, get in touch today.
- Wearable Kit - consider taking advantage of BaseballSoftballUK’s partnership with the Baseball Outlet which offers a large selection of high quality, competitively priced uniforms, complimentary logo design support and an online team shop. Your members will be fully kitted out but, more importantly, you’re able to set your own retail price in consultation with the supplier and grow your income accordingly.
For help in implementing any of the above income streams, please contact your relationship manager who will be able to support you through the process.
Your BaseballSoftballUK relationship managers
- London, East, Midlands and South – Leah Holmes
- North, Wales and Scotland - Luis Arrevillagas
- Fastpitch Softball (regardless of region) – John Boyd
We look forward to hearing from you!