Another way to defray the costs of your event, and raise additional money, is to obtain sponsors for your event. A sponsor is an individual or business that is interested in your cause, and donates or sells a product or service for your event at a discounted price. Sponsorship also lends credibility to your organization and enhances its image. Sponsors can also donate money to your event.
Our business members desire to market their products and services to attendees that are included in their targeted customer bases. As such, they donate or sell their items or services to support your fundraiser in exchange for promotion and publicity of their business as a sponsor of your event. This includes adding your sponsor’s name on all printed materials and advertisement for your event before, during and after it, as well as personally acknowledging and thanking them at your event.
The amount of promotion and publicity you are obligated to give to your sponsors is based on the amount donated. If a product, service or money is donated to your event, more promotion and publicity will be expected from your sponsor. If the product or service is being sold at a discounted price, the amount donated by the sponsor is the difference between the retail price and the discounted price, and they should be promoted and publicized according to the total amount actually donated.