Why Facebook is Becoming Central to Nonprofit Fundraising

Most nonprofits know of Facebook’s tremendous potential as a fundraising tool.  Facebook Causes offers some great tools that nonprofits can use to learn more about their constituencies, manage fundraising campaigns, and mobilize their online communities.

Not all nonprofits who have a presence on Facebook have been able to harness its full potential, however.  A successful fundraising strategy requires: 1)  a cause that people care deeply for and can get passionate about; 2) a legion of highly engaged fans willing to advocate for the cause; 3) a well-coordinated fundraising campaign; and 4) some creativity It also takes time– time to build a critical mass of fans,  and time to build loyalty through regular and genuine communication.

But the justification for nonprofits to invest time and resources in Facebook has just become much more compelling.

JP Morgan Chase recently launched the Chase Community Giving Competition, which relies on Facebook crowdsourcing to choose which charities will receive a portion of the $5 million that Chase is giving away this year.  The competition started in December of 2009, with the top 100 charities (voted by Facebook users) winning $25,000 each and advancing to the second round, where another vote will determine which organizationwill receive the $1 million grand prize or $100,000 prizes for the final runners-up. Perhaps the most interesting aspect of this competition is that it levels the playing field– some small organizations made it to the top 100 list and may even be awarded $100,000.

With this competition JP Morgan Chase joins the likes of the Case Foundation and W.K. Kellogg Foundation, who have been using Facebook since 2007 to manage America’s Giving Challenge, which awards both daily and end-of-competition cash prizes to the nonprofits who can leverage the most donations from their fans.  More more than $2 million from Facebook users was donated through the competition in 2009.

So if you’re still thinking about building a presence on Facebook, it’s time to get started– both the competition and the rewards this fall will likely be better than ever!

Even if you don’t end up bringing in some of the big prizes from Facebook, the time you’ve spent raising awareness of your cause, engaging your constituents and building relationships creates valuable capital that will boost your broader online fundraising and help you reach your longer-term fundraising objectives.


Posted by Elizabeth Beachy, Upleaf Co-Founder

 

 

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