If you run a sports organization you will will find it likely that you will have to raise funds from a number of sources in order to get all of the resources that you need to run the services and programs that you have to.You should consider all the possibilities that are open to you and then put in place a plan to take advantage of these.
Funds can be raised from:
- Membership-Some sports organizations have members who pay fees.Additional revenue can be raised by increasing either the membership fee or the membership base.
- Funding agencies-In many countries, sports programs are supported by an an external funding agency such as the government,NOC , schools or national sports federations.It is important that you know exactly what you can expect and what you need to do to increase funds from these organizations.
- Fundraising activities-There are many activities that will raise funds for your organization.Explore the activity that is appropriate for your organization and carry it out in the right time.
- Grants-One source funds that is often overlooked is that offered by a funding agency.In many countries,the economic situation does not support local fundraising from companies or individuals.It might therefore be worth exploring the options available through international foundations or foreign government funding agencies.
- Sponsorship-There are usually sponsorship opportunities for sports organizations.Its always worth exploring what sponsorship opportunities are available for your organization and what criteria as well as guidelines are followed before getting sponsors for an organization.
- Licensing-As the owner of certain properties, you can grant to another the right to use the property in conjunction with a product for a limited period.This is only successful if you own the rights to the something that a company might wish to pay for, such as your organization’s emblem or the images of your sport . This is a commercial process and like sponsorship, will require expert help.
Watchout for our subsequent articles,we will present to you each funding source, organizations as well as companies that provide funding, guidelines for selecting an appropriate funding source and application as well as selection criteria for the featured funding sources.
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