How to Raise Funds from Outside the Movement

Simon Okotie – LBC Treasurer

Overview

1. What is the LBC raising funds for?

2. Raising funds from companies

3. Raising funds from local authorities

4. Raising funds from trusts and foundations

5. Pros and Cons of raising funds from outside the movement

6. Summary of main points

What are we raising funds for?

• comfortable chairs at Vajrasana

• new offices for the Centre Team

• central heating and insulation

• external works e.g. guttering

• refurbishment of community space

• re-modelling of the LBC ground floor

• improving accessibility

•

Corporate Fundraising

• Difficult!• Sangha contacts

– £1200 from Accenture

– £1800 from Morgan Stanley Charitable Trust

– 2 x £500 Joan Strutt Charitable Foundation

– £500 from Hiscox Foundation• Fundraising from suppliers• Building trust• Building on existing relationships

Fundraising from Local Authorities

• Generally revenue• Move from grants to contracts• Social and health objectives• Building on existing relationships• Development of policies

LBC Fundraising from Local Authorities 2007/08

Tower Hamlets -

MBCT£10,223

22%

Tower Hamlets -

Carers£14,452

32%

Hackney£9,06020%

Waltham Forest£7,41016%

Newham£4,53010%

Trusts and Foundations

• Finding funders• Skilful Means• Vision and mission • Evidence of need• The Case for Support • Short application form• Long application form• Learn from successes and failures

Trusts and Foundations – finding funders

• External help• Key words: ‘religion’, ‘health and well-being’,

‘heritage’, ‘accessibility’, ‘sport’, ‘environment’, ‘arts’…

• ‘Fund-finder’ software• What do they / don’t they fund? • Long-list to short-list

Trusts and Foundations – skilful means

• Many won’t give to the ‘promotion of religion’

• e.g. City Bridge Trust won’t fund “churches or other religious bodies where the monies will be used for religious purposes”

Trusts and Foundations – vision and mission

• Tell a clear, compelling story e.g. Breathing Space

• Paramabandhu starts teaching MBCT in 2004 and carers retreats start

• “Breathing Space is the LBC’s mental health and well-being programme. It was initiated in 2004 by the LBC’s Chairman, Dr Paramabandhu Groves, a Consultant Psychiatrist…”

Trusts and Foundations – the ‘Case for Support’

• Urgent and important need• Put yourself in the funder’s shoes• Research

Trusts and Foundations – the short form

• Answer the question!• Devote time to it• Work with others• Write it from the funder’s point of view• No two applications are the same

Trusts and Foundations – the long form

• Prepare a timeline• Meet the funder• Build the relationship• Write it from their point of view• Answer the question• Make sure it arrives on time

Trusts and Foundations – learning

• Build on success • Try to get feedback on failures

‘Pros’ of External Fundraising

• There’s a lot more money outside the movement than in it!

• We need money!• It can help to reinvigorate our organisations• A way of communicating the Dharma in a new way• Gives us confidence in our projects• Means we can do more • Can help with internal fundraising

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‘Cons’ of External Fundraising

• Risks taking us away from our core values• May start doing things we don’t really want to do• Time consuming• Requires organisational change

Summary of Main Points

• Can raise funds for big or small items or projects• Sangha members can be good corporate contacts• Be clear about what they fund • Devote sufficient time • Tell a clear, compelling story• See it from the funder’s viewpoint• Answer the question!• Build a relationship• Learn from successes and failures