Covid has changed the live event landscape for at least the next 12-18 months. Through careful planning, event revenue should be a small slice of the organization’s budget. A robust development plan, active board membership, communication with constituents, and mission-driven work should drive the organization’s funding needs. Pivoting from traditional live events brings added benefits, including reduced expenses to execute functions. Donors want organizations to be fiscally responsible with dollars raised, and event expenses can reduce the net by 50-60% in some cases.
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Alzheimer’s Association is leaning in.
“Some of the revenue losses have been offset by reduced costs associated with staging virtual campaigns versus in-person events, …….. but actually netted more for the group due to lower expenses.”