Types and Sources of Fundraising
Symphonies have several different prospects for financial support. The three most common are:
- Donations
- In-kind contributions
- Grants
This funding might come from sources such as:
- Government Agencies
- Corporations
- Foundations
- Federated Campaigns
- Churches
- Local Businesses
- Fraternal or social clubs
- Individuals
Symphonies can also create revenue by charging a fee for the services they provide, as long as these services are still in line with their public benefit mission.
The symphony should always be aware of the donor's purpose and intended use for the contribution, and the symphony must manage them accordingly. In general, funding is categorized into three types;
- General operating funds, which can be spent by the symphony without restrictions
- In-Kind contributions, or non-cash assistance is a donation that is not in the form of cash. Some might be donations of facilities, volunteer support, products and services, and technical help
- Restricted or program-specific funds might be designated solely for use on a program or activity that is hosted by the symphony
Fundraising at the San Diego Symphony
The San Diego Symphony recently held a somewhat unique fundraiser in order to raise general operating funds. They called it the Opus Centennial Gala; an event in which patrons met the guest artists who performed at the next concert series and joined them for dinner and cocktails. Those who bought tickets to this event were rewarded with VIP seating to the concerts, sponsorship recognition, autographed CD‘s by our artists, and access to this exclusive post-concert reception.
This event allowed their most generous patrons to develop a close relationship with symphony personnel, which would most likely compel them to continue their commitment with them. Whether these patrons are already subscribers or not, they develop a connection with them, and in turn, hopefully make new connections through them.
Fundraisers like this one are not always appropriate for every symphony. Like any business, symphony boards must think about how much people are willing to spend to support the organization. The San Diego Symphony is able to charge well over $200 per ticket for occasions such as this one because they already have a list of reliable donors in their reach. It is often better for smaller and less established organizations to put on less formal fundraising events such as Pops concerts with dinner included at a lower cost.
Fundraisers like this one are not always appropriate for every symphony. Like any business, symphony boards must think about how much people are willing to spend to support the organization. The San Diego Symphony is able to charge well over $200 per ticket for occasions such as this one because they already have a list of reliable donors in their reach. It is often better for smaller and less established organizations to put on less formal fundraising events such as Pops concerts with dinner included at a lower cost.
The San Diego Symphony has been designated a Tier 1 Orchestra, one of the leading orchestras in the United States by the League of American Orchestras. Wouldn't you look to a leader for good fundraising examples? If so, see their web page here!
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