What is a Fundraising Consultant?
As the name suggests, a fundraising consultant is someone who helps nonprofits with their fundraising activities in order to help them achieve the results they like. They are either individuals or an agency with many years of experience in the field.
What do Fundraising Consultants Do?
Consultants will give nonprofits strategic advice geared at raising funds in a sustainable way, and may even help the organization approach donors in the correct manner.
They bring their expertise and perspective to the table so you can look at things from a new perspective and plan for the long run instead of remaining stuck withy our short term vision.
They are also capable of providing you with a breadth of important resources that you would have otherwise not had access to. These guys are professionals and therefore, have linkages with people who can help your organizations get the funds you need. In a way, they can be strategic shortcuts to learning how to approach major doors on your own.
How Much Does a Fundraising Consultant Charge?
This is a tricky question to answer because there will never be a solid, straight answer. Consultant fees differ from person to person and organization to organization. Usually, the fees a consultant charges will include the service they have provided you in addition to covering their costs for things such as tax, insurance, training, and costs incurred by them.
Most good fundraising consultants charge either on a daily rate or by a fixed fee. Rarely will any respectable consultant ask to work on commission basis. In fact, that may be a sign that the individual or company is not reliable.
If you’re still looking for a ballpark figure of how much it would cost you to hire a consultant, you’re probably going to get an hourly rate from $100-$125 per day. There are other ways to estimate your costs, especially by looking at different overhead rates, but again – these will vary greatly among different consultants.
Should You Hire a Fundraising Consultant?
Now that you have a basic idea of who a fundraising consultant is, and what you can expect to pay them – the question arises whether you should hire them or not.
This depends on where your organization stands in terms of being able to raise funds on its own. If it does not have the skill, strategy and insight to compete with the other organizations out there, it might be wise to invest in a fundraising consultant that can help identify the gaps in their plans.
On the other hand, if the organization has a system in place that is doing fairly well then paying for a special consultant seems like an unnecessary cost.
A fundraising consultant may not be a necessity for your organization, but if you get one that understands your organization’s needs, your fundraising process may become much easier!