Text Size + -

Newsletter Sign Up

Receive educational information in your inbox every week!

Financial Tip

It is important that your children learn what they can do with money early in life so they will apply the lessons learned as they face the read world in future years.

Jim Stowers, Founder
American Century Investments®

Taking the Mystery Out of Planning a Good Fundraiser

 

With tight education budgets, schools depend more on parent organizations to combine their creativity and contacts in the community to make up the difference between the need for resources and available funds. However, with many families also feeling the economic pinch, it may be difficult to sustain numerous campaigns or special assessments throughout the year.

So, what’s a parent volunteer or committee to do?

Start with a plan and goals that are realistic and supported by a majority of participants. Like investing, once you have a plan – stick to it. Frequent disruptions may frustrate some volunteers. Interruptions can also be costly and lead to extra expenses because of last minute changes.

Base your activities on input you receive from participants. Some parents may prefer to give a one-time financial donation instead of contributing to fundraisers throughout the year. Other families may be more comfortable with giving a little each month toward an annual pledge. And still yet, there may be parents who do not have the financial resources to give but who have the time to help with set up, organization, transportation, communications and other activities that add value to your project’s implementation.

Be sure the right people are in the right roles. Too often, a few well-meaning volunteers dominate a project and don’t think to ask for assistance. If a parent is new, he or she may not speak up to share information about useful talents or connections that could greatly enhance your project. Find out who is in your group and their interests. To increase your chances of success, assign responsibilities based on people’s ability and what they find energizing.

If your group decides to take on a traditional fundraising activity, set guide- lines that ensure the safety of all students. Don’t get so caught up in the rush to raise money that you overlook this important priority. The following tips are provided by usafundraising.com:

  • Never allow students to go door-to-door alone, or in the dark, or go inside someone’s home.
  • Create fundraising safety rules and repeat them verbally, in writing and electronically.
  • Have consequences for breaking the rules.
  • Ask students, together with their parents, to make a list of potential supporters.
  • Make sure parents are involved in choosing your school fundraiser.

 

Teachable Moments

Have your students create a ‘Fund-Raising Spending Plan’. This plan should represent the amount of income earned minus the cost of goods being sold. The difference between the two is the net profit. For a greater challenge, have students calculate what their salary would be if they were making a minimum hourly wage. Multiply the number of hours worked times the minimum wage. Add this amount to the expenses and recalculate the net profit.