Defining What You Need to Raise

Setting a fundraising goal requires an organization to understand its basic annual operating budget. The process begins by setting goals of what it wants to achieve and determining the expenses required to do so, including the costs of staffing and overhead. Next, the potential for earned income is considered, such as admission, tour fees, concerts, rentals, classes, and other activities. Some institutions have long-term public grants, revenue-sharing agreements or tax revenue streams that provide income. The remaining gap can be considered for the fundraising goal.