Key Points
5 WAYS TO START A CHARITABLE ORGANIZATION
It is essential to know how to start a charitable organization. A lot of people want to give back to society, but if you lack knowledge on how to go about it. It may not end well.
Starting a charitable organization is not necessarily about having all the money first of all. You can start without even having the necessary funds at the moment. The important thing is to have the right mindset towards starting and build on that.
There are a couple of things to note before jumping into charity. It can get very overwhelming, so you must be prepared for all the downsides that will come with starting a charitable organization. Starting a foundation may seem steep at first, but at the end of the day, the joy of meeting the needs of specific individuals in society is way more rewarding.
Check out the five things to consider when starting a charitable organization below:
1) ASK YOURSELF WHY YOU WANT TO START
The first thing you must do as was stated in the preamble is to ask yourself why you want to start a charitable organization in the first place. Launching a foundation can be challenging most, especially if you’re also running your business. This is why you have to find your passion and why that passion drives you. For anything to have a lasting effect, you must start with the right motifs. If your vision doesn’t inspire you, then you will soon get tired faster than you expected.
2) ENSURE YOU HAVE A TEAM
Another way to start a charitable organization is to ensure you have a team. A charitable organization is a bit like a business, except in this case, the purpose of the charitable organization is not to make the founders wealthy, but to give back to society. You will need to have a team to be able to achieve your goals in meeting the needs of others. A board of directors will be needed, but most importantly, surround yourself with people who share your vision and are willing to dedicate their time and energy to make it successful. Individuals who have the following qualities will be of great help to you:
- Good connections with both the local community and the community you intend to reach out to.
- Highly resourceful people: Even though you raise the capital yourself, you will still need people who will help manage the funds and make an impact with it.
- People who have access to donors.
- People who are always willing to work and get things done.
- Professionals in accounting, law, public relations, marketing, business etc.
It is crucial to delegate duties; this is the essence of having a team.
3) WRITE DOWN YOUR VISION
It is crucial to write out your vision not just for you to see but for stakeholders to understand what your vision looks like. It is one thing to have an idea, but it is another thing to know where the vision leads in the long run. If you want to build schools or hospitals, you should state them out. Once you can see your success, your mind will be on its way to make it a reality.
4) RAISE MONEY
It will always be safe to try to raise money on your own before starting the charitable organization. See how much resources you can gather to fuel your dream first before looking to stakeholders. One way to raise funds is to ensure you have multiple streams of income to be able to put some of your resources into making your passion come alive. Raising money is essential, but always remember that your goal is not to raise money, your goal is to transform lives, so focus early successes in the most impactful way, they will surely help you attract donors in the future.
5) DETERMINE YOUR STRATEGY
As soon as your organization is active, it would help if you determined what your strategy is, especially in the long run. You must ask yourself whether you are going for long term legacy and sustainability, or if you are maximizing short-term impact and using the results to attract more capital to support growth in the long run.
Do leave a comment below if this was helpful.
