When it comes to fundraising for a library, determining your fundraising goal can feel overwhelming. However, there are efficient and effective ways to identify your goal so that you can begin working to achieve it.
You can start here:
- A 10-20% increase from last year’s fundraising goal is reasonable.
- Conduct research by looking into similar libraries in your area or across the country and see what their fundraising goals were and how successful they were in achieving them. This can give you a good idea of what to aim for and how realistic your goal is.
- Who were your top 12-16 prospects last year? Is it possible that their gifts could increase this year?Take that fact into account.
- Consider the needs and goals of your library. What are your top three needs?
- Determine what the fundraising will be used for, whether it's to purchase new books, upgrade facilities, or improve programs and services.
- Be specific and place a dollar amount attached to each need. If there isn’t a need, it’s important to not create a need that really doesn’t exist. Consider placing your needs and dollar amount in a table to be easily understood.
- Calculate the estimated costs and set a fundraising goal accordingly. Consider the timeline for your fundraising efforts, as this can impact the amount you need to raise. What dates do you need to make sure to avoid? You should already be planning an annual appeal around October of each year.
Be sure to also reach out to current donors and stakeholders to get their input on what they feel is a reasonable and achievable fundraising goal. By involving others in the process, you can get a more well-rounded perspective and potentially increase community involvement in your fundraising efforts.
Good luck. We believe in you!
