STAND OUT FROM THE CROWD FOR FUNDING SUCCESS
Posted October 20, 2017 by Toby Lovatt on NVCO
When it comes to grant funding, we’re all guilty of ploughing the same furrow, especially if it has reaped dividends in the past. It’s a tough funding environment, there are still £billions in grant funding available but there are over 165,000 other organisations in the voluntary sector vying for that same funding. To be successful you need to think about how to stand out from the crowd.
Understand the landscape your project operates in
We can all be a bit insular at times. We know why our organisation and the projects we work on are needed; after all we speak to our beneficiaries all the time, and we care about our work.
But do we regularly stop and give ourselves space to think about how our work fits into the wider external environment?
To make the most of funding opportunities we need to know the motivation behind them. Do your stakeholder analysis. Get to know:
Match funding opportunities to your priorities – rather than the other way aroundIf we are honest, when times are tight we’ve all chased funding that probably wasn’t right. But let’s say it again and then again louder: don’t get distracted by funding that’s not right for your project. It’s going to waste a lot of your time and not really deliver on what’s important to your organisation (therefore your beneficiaries).
Your organisation has a vision, a mission and strategy for what you want to deliver, stick to that.
Of course you’ll want to explore new areas and projects but if they start falling outside your organisation’s scope then you need to have a fresh look at your strategy and see if it needs to change to help bring some focus.
Look for different types of funding opportunitiesIf you rely on one funder or one income stream, the effect of any changes to that income can be disastrous for your organisation and your beneficiaries. We know only too well that it’s hard work to replace funding for a project completely funded by one income stream.
Diversification is key to a sustainable future, so mix it up when it comes to income streams and to funders.
Share your story and your impactGetting across the impact of your work is crucial for so many reasons, not least telling potential funders about what you have achieved and what else you hope to achieve.
We know about measuring outcomes and showing impact. We create reports, quote stats and put together case studies. But do we think enough about engaging ways to share this information with our key audiences?
Your supporters and funders, and all those potential ones, want to hear how you are making a difference, so think about:
Thanks to Katy Atkinson from the Reporters’ Academy
This entry was posted in Practical support and tagged Funding. Bookmark the permalink.e to edit.
Posted October 20, 2017 by Toby Lovatt on NVCO
When it comes to grant funding, we’re all guilty of ploughing the same furrow, especially if it has reaped dividends in the past. It’s a tough funding environment, there are still £billions in grant funding available but there are over 165,000 other organisations in the voluntary sector vying for that same funding. To be successful you need to think about how to stand out from the crowd.
Understand the landscape your project operates in
We can all be a bit insular at times. We know why our organisation and the projects we work on are needed; after all we speak to our beneficiaries all the time, and we care about our work.
But do we regularly stop and give ourselves space to think about how our work fits into the wider external environment?
To make the most of funding opportunities we need to know the motivation behind them. Do your stakeholder analysis. Get to know:
- funders who fund your type of projects. What are their aims and priorities right now?
- what’s going on in your area – from your location to your part of the sector?
- what are the needs of other local and/or similar organisations?
- what are the hot topics that politicians and the media are talking about?
Match funding opportunities to your priorities – rather than the other way aroundIf we are honest, when times are tight we’ve all chased funding that probably wasn’t right. But let’s say it again and then again louder: don’t get distracted by funding that’s not right for your project. It’s going to waste a lot of your time and not really deliver on what’s important to your organisation (therefore your beneficiaries).
Your organisation has a vision, a mission and strategy for what you want to deliver, stick to that.
Of course you’ll want to explore new areas and projects but if they start falling outside your organisation’s scope then you need to have a fresh look at your strategy and see if it needs to change to help bring some focus.
Look for different types of funding opportunitiesIf you rely on one funder or one income stream, the effect of any changes to that income can be disastrous for your organisation and your beneficiaries. We know only too well that it’s hard work to replace funding for a project completely funded by one income stream.
Diversification is key to a sustainable future, so mix it up when it comes to income streams and to funders.
Share your story and your impactGetting across the impact of your work is crucial for so many reasons, not least telling potential funders about what you have achieved and what else you hope to achieve.
We know about measuring outcomes and showing impact. We create reports, quote stats and put together case studies. But do we think enough about engaging ways to share this information with our key audiences?
Your supporters and funders, and all those potential ones, want to hear how you are making a difference, so think about:
- how you can bring your work to life
- the different ways and mediums you can tell your story
- how you can involve your beneficiaries in this process, after all it’s their story you’re telling too.
Thanks to Katy Atkinson from the Reporters’ Academy
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- Legacy:
The tax benefits of leaving a legacy
by Dawn Moir, Head of Wills, Trusts & Probate, Goughs Solicitors
Everyone has to pay Inheritance Tax on their assets over a certain amount when they die but it’s good to be aware that there are several exemptions that could help cut your Inheritance Tax bill or even reduce it in full.
This article aims to provide you with information on the basic tax rules around Inheritance Tax planning, helping you to understand the current rules and types of gifts you can leave either without incurring any costs or reducing them.
Lifetime Gifts
When a person dies their estate is valued for Inheritance Tax. There is a threshold above which the estate will then pay Inheritance Tax which is known as the Nil Rate Band. The Nil Rate Band currently stands at £325,000 meaning that if on your death, your estate is less than £325,000, you will not pay Inheritance Tax on your estate. This begs the question “why not simply give everything away so that your estate is below the tax threshold”?
There are some gifts you can make during your lifetime which will not be taxable and can reduce your estate and so be a useful tax planning tool. However other gifts may well be caught under rules which aim to stop people giving away everything shortly before they die and so avoid Inheritance Tax.
Below is a list of lifetime gifts which are exempt under the current tax rules. This means that you won’t be charged Inheritance Tax on any gifts which fall within these.
Gifts between a husband and wife or civil partners (UK residents) – No limit
Gifts to charity (UK) – No limit ) You can also cut the percentage the taxman takes in Inheritance Tax if you leave at least 10% of your estate to a charity in your will.
Annual exemption each tax year per donor – £3,000
Small gifts to any number of persons – £250
Wedding gifts by parents – £5,000
remote ancestor – £2,500
party to marriage – £2,500
others – £1,000
Gifts which are normal expenditure out of income – No limit
10 TIPS FOR FUNDRAISING AROUND THE £1 COIN Posted on July 24, 2017 by Mary StricksonNCVO, the Institute of Fundraising, Charities Aid Foundation and the Charity Retail Association have worked in collaboration to look at how charities have been fundraising around the coin so far and think about how you can maximise donations of the round pound in the coming months.
The new, 12-sided pound coin was launched on the 28 March and has provided fundraisers with an opportunity to cash in on the old coin. With the old, round pound ceasing to be legal tender on the 15 October 2017, there is potential for charities to benefit from the public’s increasing awareness of the old pound being removed from circulation.
1. Out with the old, in with the newWith more new pound coins coming into circulation every day, charities have been encouraging supporters to donate an old pound coin for every new one they receive – using #PoundforPound to raise awareness on Twitter. Other organisations have been stirring people into action by reminding them that they should donate their old coins before they are removed from circulation in October.
2. Put a value on your poundCharities have been inspiring supporters by telling them exactly what they’ll do with their pound. How many pounds do you need to reach a certain target? How many coins would it take to provide a specific service or support a beneficiary? Macmillan Cancer tweeted that 28-pound coins will fund a Macmillan nurse for an hour, and Emmaus UK explained that ‘for every £1 spent with Emmaus, £11 is generated in social benefits.’
3. Prizes for poundsRaffles and prize draws have been one of the more creative ways charities have been fundraising around the new pound. Think about whether your organisation could sell raffle tickets for a round pound and supporters could win prizes or even more new pounds. Blesma have been running a prize draw using the line ‘trade your old pounds in for a chance to win a thousand new ones,’ and Sight Support Derbyshire have been running a £1 lottery.
4. Partner with a pound shopMacmillan Cancer has partnered up with Poundland and is urging supporters to donate their pounds in collection boxes across UK stores. There are a huge number of shops on the high-street which focus on selling items for £1 or have ‘pound’ in their name; how could your charity take advantage of this on a local or national level?
5. Round pound pictures and piles: Get kids involvedFundraising around the new pound coin presents a brilliant opportunity to get schools, libraries or kids’ clubs involved in campaigns. If your charity works with children, this is a good chance to inspire people to donate their old pounds by planning something creative. See who can make the tallest pound pile and longest pound line or get kids involved by making pictures out of their old pounds. There could be potential to maximise fundraising over the summer holidays!
6. Classic collection boxesCollection boxes are one of the most versatile fundraising tools. During the pound for pound campaign, we’ve seen charities offering supporters collection boxes or envelopes to fill with old pounds. Distributing collection boxes to local businesses and encouraging supporters on Twitter to donate their old pounds in specific locations is another popular idea. Think about whether you could adapt your collection boxes to reflect the campaign.
7. Charity shopsIf your charity has shops, publicise the fact that supporters can spend or donate their old pound coins in store.
8. Piggy banksIt’s estimated that there is around £1.3bn stored up in piggy banks and jars across the UK and over a third of this is likely to be made up of round pounds. Consider how you could incorporate the idea of hidden pounds into your campaigning strategy or think of an interesting way for supporters to donate from piggy banks.
9. Make your pounds go further with Gift AidIf you’re planning some cash fundraising around the new coin, make sure you check if your charity is eligible for the Gift Aid Small Donations Scheme. The scheme enables charities to claim a Gift Aid style top-up of 25% on cash donations such as bucket collections, without the need for written declarations from donors (however, it’s worth noting that you can’t claim on all activities, such as raffles). Although you need to have claimed some normal Gift Aid on other donations, there are new rules which make it easier for charities to sign up. Charities have been promoting this message when fundraising around the new pound; Rythmix Music have been using an updated version of the popular Gift Aid image depicting the extra value of the pound when donated using Gift Aid.
10. Tweet about itWe’ve been encouraging charities and individuals to get behind the hashtag #PoundforPound to promote their fundraising around the new coin. As the public becomes increasingly aware that the old coin will be removed from circulation in October, there are likely to be further opportunities for charities looking for donations in the coming months – we will be endorsing different hashtags in the run up to the deadline. Make sure you take a look at the Royal Mint’s Repatriation Round Pound Stakeholder Toolkit which includes downloadable resources, imagery and the donation bucket gif for charities to use on social media.
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