It is generally known that with money comes freedom and power. Not only does a plentiful and stable financial foundation allow the MSA to sustain its important services to our community, through experience, we've noticed that when the MSA is financially prosperous, our leadership naturally strives towards loftier goals and proposes bigger ideas and bolder events. Finances determine our association's potential. For these reasons, it is incredibly important that the Treasurer prioritizes fundraising and grant writing.
When fundraising, it is important that we understand our audience and tailor our message to appeal to them. The MSA has access to the following populations.
| Audience | Strengths | Weaknesses |
|---|---|---|
| Alumni | Usually don't have many dependents and are employed meaning that they are willing to donate larger amounts | Hard to connect with without a strong alumni network and activities that engage alumni |
| Students | Are mostly directly impacted by the MSA's services and believe in the cause. We have a direct connection to them | Unemployed and living on a tight budget meaning that they will donate small amounts |
| Parents | Usually want their children to have a supportive Muslim community | Hard to connect with, have to go through the students. May or may not be able to donate large amounts due to other financial responsibilities |
| Businesses & Non-Profits | Have access to a lot of money and may be looking to recruit from Berkeley students | Need a good reason to justify donating to a student community |
There are a few strategies that may be utilized in various fundraisers. The advantages and disadvantages are listed below.
| Strategy | Advantages | Disadvantages |
|---|---|---|
| Monthly | Create a steady, predictable and passive source of income. Can be forgotten allowing for the collection of more funds over time than a donor would have been willing to give at once | Individual donations will be lower, requires a large number of monthly donors to build a significant monthly income |
| One Time | Donors are more willing to give large amounts at once. Helpful when pressed for funds and need money now. | Requires an active effort for every one time donation. Funding is not predictable in the long run. |
Because of these advantages and disadvantages, it is important that the MSA engages in a balance of both strategies. Generally, if the MSA is successful in applying for grants, there will be enough funding to support the association's short-term needs. The focus would then shift to developing a strong base of recurring donors.
Below is a list of fundraising projects that have been historically successful.
Every year, the MSA launches a social media fundraiser asking that our students, parents, and alumni give in the blessed month. The fundraiser launches during the first week of Ramadan, but marketting is focused during the last two weeks when most of the donations come in. Typically the MSA is able to fundraise between $6,000-$7,000 during Ramadan. Because Ramadan is shifting more and more into the school year, the addition of other in-person fundraising activities during Ramadan may be even more effective.
One of the main projects of the MSA Fundraising Committee is meeting with students in small discussion groups and asking whether they would be interested in supporting the MSA's services with a donation as little as $10 every month. The committee piloted this idea for one week, meeting with 15 students across 4 meetings, 8 of which subscribed for a donation averaging $10 every month. This translates to $960 across one year, a great accomplishment for one week's work. Recurring donations of this sort are made possible with Donorbox.
These happen when the MSA is in a tight spot or needs to fundraise money for a very specific cause. The most successful causes are those that are most rooted in prayer and worship. For example, the MSA once held a fundraiser for new Friday Prayer carpets and raised $3,000. Venmo and paypal work best for fundraisers like this.
If you were instructed to read this page as part of an online training curriculum, you must submit this quiz and answer all questions correctly. In the case that you do not answer a question correctly, you may view which questions were incorrect and take the quiz again.
