How To Raise $1M in One Day
The City of Alexandria wants to raise $1M in 24 hours for over 100 nonprofits next week. Find out why it actually might work.
When ACT for Alexandria launched its annual day of giving, Spring2ACTion, four years ago, it raised $104k. Based on its growing popularity, Spring2ACTion thinks it has a fighting chance of reaching $1M. The city’s community foundation already has 118 nonprofits and 214 individual fundraisers signed up for the April 9 event. ACT for Alexandria chief program officer Brandi Yee says activity leading up to the event has already outpaced original goals. So why does this crowdfunding model work?
Brandi says it’s the free agent fundraisers, individuals who spend the day of giving raising money from friends and family through their own online donation page. The minimum individual donation is $10 but last year’s average was $112. Other factors: The 24-hour urgency creates a lot of buzz; partnerships with local shops and restaurants that contribute a percentage of their sales that day; and offline events like this happy hour last year to raise funds.
Brandi says the day is modeled after a program in Minnesota started six years ago that now raises $17.1M in a 24-hour period. The nonprofits also benefit from the exposure and potential to add to their annual donor pools. A recent study of peer-to-peer fundraising like this one found that 28% of the people who contribute are repeat donors. Some of the nonprofits involved this year include ones raising money to build and improve playgrounds, workforce development, youth mentoring, and helping women start businesses.