Let’s say you have organized a successful fundraiser to raise money to support the impactful work of your organization or partner organizations. People from within and outside your network have poured in generous donations for your cause. Because the fundraiser was successful and the donations essential to the continuous operation of your organizations or partner organizations, you will probably want to organize a fundraiser again.

Cultivating Donor Relationships

How do you get people interested in supporting your cause again? 

One of the best ways is to provide transparency in how the donations were spent and what kind of impact was enabled by the donations. This can be done through an impact report. In addition to expressing gratitude to the donors, the impact report also enables you to retain your relationship with existing donors and develop new relationships with potential donors.

Demonstrating Organizational/Program Effectiveness 

With more funders transitioning to trust-based philanthropy, a comprehensive review of how donations are making a difference is more important than ever for organizations to effectively fundraise to ensure their financial resilience. 

A fundraiser impact report offers an overview of the goals, objectives, and outcome of the fundraiser. This provides donors with the knowledge that their donations are efficiently spent on worthwhile causes. Additionally, the report enables (potential) donors, volunteers, partners and collaborators etc. to learn more about the organizer, its mission and impact, and its efficiencies of donation utilization. This could attract potential donors and partners to support the organization and its initiatives. 

When communicating the impact of your fundraiser, you want to include both qualitative and quantitative data. For example, in addition to reporting the number of people benefiting from the funded projects, you should also include testimonials from the beneficiaries about the projects.

Transparency and Accountability 

An impact report provides donors with insight into how their contributions were used and the positive impact created as a result. Through clearly communicating program outcomes, financial management, and the organization’s/project’s overall impact, you can build trust and credibility with your donors.

What are the Key Components of a Fundraiser Impact Report? 

Introduction

In the Introduction section, provide a brief overview of the fundraiser: 

• What are its goals and objectives?
• Who was it organized by?
• When and where did it take place?
• What is the total amount of funds raised (amount allocated for grant)?
• Who/what are the beneficiaries?
• What is the total number of beneficiaries?/What is the total benefit?

Organization/ Project Description

If your fundraiser was held to raise funds for your organization or a particular project, describe it in detail. This section is especially important for a fundraiser supporting multiple projects and organizations. 

Let’s use FSI’s 2023 Annual Holiday Fundraiser as an example. In the impact report, you can see a detailed breakdown of each of the six funded projects all over the world. Each project description includes:

• Timeline of the project
• Location of the project
• Organizer/manager of the project
• The reason it receives funding: the credentials of the organizer/manager of the project, the solutions it offers to address challenges in the community
• The amount of funds allocated to the project
• What the funds were spent on
• The number of beneficiaries
• Photos and/or videos of the project
• Testimonials from the beneficiaries and organizer/manager of the project
• Links to the organizer/manager’s website and/or contact information and social media

Financial Transparency

Provide a breakdown of how donations were allocated in as much detail as possible to provide transparency. For an example of how to do this, please refer to the “Funds Raised” section in the FSI 2023 Annual Holiday Fundraiser Impact Report.

Acknowledgments and Conclusion

Don’t forget to thank the people who made this fundraiser possible! These people include the donors, the volunteers who help with data collection and drafting the impact report, the funded organization(s)/project(s) for doing the impactful work they do etc. 

Take the “Conclusion” section as an opportunity to call for action for future donation and support. Invite funders, partners, and collaborators to join your next fundraiser to create even greater shared impact, for example.

Data Collection and Prep Work for the Impact Report 

Now that you know what needs to be included in the impact report, you should have a clear idea of the qualitative and quantitative data you will need to collect to compile a comprehensive impact report. Here are some tips to help you plan your workflow: 

•  Work with your colleagues to list out the different kinds of data and metrics you will need to collect. 
• Think about how you will collect the data and metrics, and discuss division of labour with your colleagues. 
• Brainstorm the time needed for each and all tasks, and draft a timeline to hold everyone accountable for their work tasks and deadlines.
• Include regular check-ins with the FSI team, which can be done online or in person. Take these check-ins as meetings for progress updates or raising whatever queries you may have about your work.

PS!

FSI recently published our 2024 Annual Holiday Fundraiser Impact Report. Check the report out and use it as a reference!

At FSI, we’re always seeking to improve, so if you have any feedback on this guide/template, please do not hesitate to let us know.

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It can let you know more about the information of organization that you are interested and also allows people to leave ranking to the organization due to the performance.

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Funding Objective

Objective

Impact Incubator is a one-stop supporting platform that connects social innovation implementers (SIIs) to knowledge, resources and networks relevant to social welfare agencies, social enterprises, philanthropic foundations, business associations and professional bodies.

The Social Innovation and Entrepreneurship Development Fund (SIE Fund) aims to be a catalyst for promoting the development of social innovation in Hong Kong.

• It connects the different sectors of the community, including businesses, non-governmental organisations, academics, philanthropies, etc. to address poverty and social exclusion as well as foster the well-being and cohesion of the society through innovative solutions.
• The ultimate goal is to foster the development of the social innovation ecosystem where social entrepreneurs can thrive and potential talents can be unleashed to develop innovative ideas, products and services that can effectively meet social needs.

Target

Impact Incubator is a R&D Lab for entrepreneurial and innovative ideas with social purposes. They support:

• Social entrepreneur who aim to adopt sustainable business solutions to address poverty and social exclusion issues
• Social  from NGO or private sector, who aims to mobilizes internal resources for social good
• Social innovator who adopts creative approaches to addressing social needs

Amount of grants

Projects at different stages will require different amounts of grant funding over variable funding periods.

The maximum amount of grant funding for Late Prototype projects is HKD300,000*.

There is generally no funding ceiling for Start-up, Growing and Scale-up projects.  However, applicants will be required to secure at least 50% of their total funding application budget as matching funds ^. Matching funds may be in cash or in kind, provided by any party other than the HKSAR Government. If the SIE Fund funding application is for HKD500,000 or above, the Joint Vetting Committee and Proposal Assessment Committee will further review the application

• If your budget exceeds HKD200,000, an in-person interview will be conducted

Matching Fund excludes SIE Fund and all other HKSAR Government funding. It can be in-cash or in-kind e.g rental and equipment sponsorship. The applicant should submit supporting documents to support any in-kind valuation assessment. The matching fund amount will be subject to relevant terms and conditions and will require prior written approval

The approved grant is the sum of the capital grant and the operating grant, where:

• Capital grant is the amount approved for acquiring assets (i.e. capital expenditure)
• Operating grant is the amount approved for financing the funded project’s operating deficit

Budget

Only expenditure incurred exclusively for the funded project can be covered in the budget, for example ‒

1) CAPITAL EXPENDITURE

• Cost of procuring equipment
• Renovation cost

2) OPERATING DEFICIT (OPERATING EXPENSES IN EXCESS OF REVENUE)

• Salary (including the employer’s contribution to the Mandatory Provident Fund)
• Expenses for consumables
• External consultancy fees
• Production and promotion cost of project deliverables
• External audit fee (this is compulsory for organisations’ and companies’ funding applications)
• Patent registration fee
• Rental and utilities
• Travelling fee (not exceeding 5% of the total budgeted expenditure)
• Insurance
• Central administrative overheads* (not exceeding 5% of the budgeted expenditure)
• Charges levied by a party (e.g. parent company) for of central support / administrative services (e.g. management fees)

Payment of candidate

The applicant will be required to keep a Designated Bank Account solely for the purpose of implementing the approved proposal. The grant shall be remitted into the Designated Bank Account in installments at such intervals as specified in the contract.

In general, the initial installment will be released upon commencement of the project and the matching fund is deposited into the designated bank account. Afterwards, installments shall be released at intervals e.g. the submission of the progress and financial reports every six months and upon SIE Fund’s satisfaction of performance of the project. Not less than 10% of the grant will be reserved as retention money which shall be released after the completion of the project.

Eligibility

• Late Prototype Application: Hong Kong permanent residents aged 18 years or above, or organisations and companies limited by guarantee or limited by shares and registered in Hong Kong are eligible to apply.
• Start-up, Growing and Scale-up Application: Organisations and companies limited by guarantee or limited by shares registered in Hong Kong are eligible to apply.

Projects which are, or will be, supported by other public funding schemes will not be considered. Applicants cannot submit the same project proposal to different intermediaries to apply for the SIE Fund.

The Impact Incubator supports and incubates:

• Social entrepreneur who aim to adopt sustainable business solutions to address poverty and social exclusion issues
• Social intrapreneur from the NGO or private sectors, who aim to mobilizes internal resources for social good
• Social innovator who adopt creative approaches to addressing social needs

Types of funding

Late prototype

A social project or social enterprise with a solid prototype that has been alpha-tested. The project’s owner/founder intends to commercialise and launch the prototype to market.

• Application eligibility: Hong Kong permanent residents aged 18 years or above, or organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong
• Maximum project duration: 18 months
• Maximum funding amount: HKD 300,000*
• No matching funds are required

Start-Up

A social project or social enterprise which has already been tested or launched to market. A business/ sustainability plan to support the project is required.

• Application eligibility: Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong
• Maximum project duration: 3 years
• No limit to the funding amount requested
• At least 50% matching funds are required

Growing

A social project or social enterprise which has already demonstrated initial track records in both business model and social impact, and has a potential to grow.

• Application eligibility: Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong
• Maximum project duration: 3 years
• No limit to the funding amount requested
• At least 50% matching funds are required

Scale-up

A social project or social enterprise which has already demonstrated proven social impact and sustainability. A solid plan to scale up the project is required.

• Application eligibility: Organisations and companies limited by guarantee or limited by shares, and registered in Hong Kong
• Maximum project duration: 3 years
• No limit to the funding amount requested
• At least 50% matching funds are required

Application

1. Sign up for an application account
2. Tell your idea in a project proposal
3. Attach a budget and other required document(s)
4. Submit online

Document checklist:

https://socialinnovation.org.hk/en/how-to-apply/application-procedures/

Tips for application

• First Round of Application Deadline: 31/03/2022
• Matching fund policy
  • When applicants submit applications for Start-up, Growing and Scale-up projects, they will be required to secure not less than 50% of their total funds applied as matching funds, before their application is accepted. The ratio of grant funding applied to matching funds is 1:1.
  • In general, matching funds mean any initial capital, excluding SIE Fund and other HKSAR Government funding. Matching funds can be in-cash or in-kind e.g. rental and equipment sponsorship. The applicant should submit documents to support the in-kind valuation. The matching fund amount will be subject to relevant terms and condition and will be confirmed after approval.
• Multiple submission
  • The applicant can submit more than one application at any given time, but each application needs to be different.
• Having problem during application
  • contact:
    • Phone: 28762492
    • Email: info@socialinnovation.org.hk
    • Website: http://www.socialinnovation.org.hk
      • The Impact Incubator’s office hours are from Monday to Friday (09:00-17:30). The office is closed on Saturdays, Sundays and public holidays. To schedule a meeting, please contact us in advance.

Additional Readings:

• official website: https://socialinnovation.org.hk/en/
• Reference proposal:

PS!

At FSI we’re always seeking to improve, so if you have any feedback on this guide/template, please do not hesitate to let us know.

The post Guide to Impact Incubator appeared first on Foundation for Shared Impact.

Full Video:

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• Develop a schedule for funding applications, which includes preparing supporting documents such as your annual audits, company and program overviews, organizational chart, certificates etc. 
• Identify and plan the initiatives that will support funding efforts such as fundraising campaigns and events etc. 
• Who will lead outreach and networking efforts to build relationships with potential funders (for both individuals and institutions)? 
  • Identify the resources you will need to support your outreach and networking efforts e.g., website, pitch deck, donor database.
  • Do you have a pitch deck that you can use for fundraising purposes that can be modified, depending on the funding opportunity?
• Who will be involved in the application process?
  • What are their skills and expertise? – must be able to write well, prepare budgets and keep records
  • Is a fundraising committee required? 
  • How much time do they have to commit to fundraising?

For more information on the different initiatives that your organization can undertake to boost your fundraising efforts and how you can engage skilled volunteers to help the process, see Ways to Get Ahead in Your Fundraising Game and How Skilled Volunteers Can Help

Source: Age UK Norfolk

Guide to Identifying Funding Opportunities

Step 1: Assess current sources of income

• Understand your current revenue and funding streams
• Is the organization too dependent on any one revenue or funding source?
• Are your current sources of income sustainable or short-term?
• Understand how much of your funding is restricted (e.g., objective-specific funding)
• When does each revenue or funding stream end? 
  • Which ones will you be able to reapply for? Evaluate if you should retain existing sources of funding or find new sources, retaining is sometimes far easier.
  • Which ones will you need to find an alternate source of funding for?

Step 2: Identify and break down your organization’s needs

This can help you understand funding or revenue streams that would be most suitable for addressing each of the needs.

When your organization’s needs can be addressed by restricted funding opportunities, break your needs into fundable projects that are SMARTER:

Step 3: Screening

• Identify the broad types of funding for which your organization and its projects are eligible. 
• Utilize databases such as Shared Data Funding Database (Freely Accessible), FundFluent, and Donorpedia (Paid Service – HKD120)
• Consider diverse sources of funding to achieve long-term financial sustainability – including fundraising from individuals and fundraising from institutions.  
• If you are interested to fundraise from individuals, network and talk about your organization with others and encourage those in your network as well as your Board members to spread information about your organization’s work to others.

Step 4: Shortening

For Fundraising from individuals

For Fundraising from Institutions

• Check within your network to see if you can identify individuals who would be interested to support your organization’s mission and vision.  

• Once those individuals are identified, research as much as you can into the potential donor, their interest areas, past donations, etc.  Try to get to know them, before you meet them.  

• In-depth research into the requirements, restrictions, and timeline (application and disbursement) of each funding opportunity and determine which are aligned with your organization’s work plans and priorities.

• In-depth research about your potential funders to understand how the funder usually funds (unrestricted grants vs. restricted grants, grants for front line programs or grants for research, etc.) and also the beneficiary group/community and social issue/topic the funder is most interested in. Look at past grants by the funder and speak with others in your network who may know the funder to learn what it’s like to work with this funder. 

Step 5: Plan of Action

• Develop a schedule for funding applications, which includes preparing supporting documents such as your annual audits, company and program overviews, organizational chart, certificates etc. 
• Identify and plan the initiatives that will support funding efforts such as fundraising campaigns and events etc. 
• Who will lead outreach and networking efforts to build relationships with potential funders (for both individuals and institutions)? 
  • Identify the resources you will need to support your outreach and networking efforts e.g., website, pitch deck, donor database.
  • Do you have a pitch deck that you can use for fundraising purposes that can be modified, depending on the funding opportunity?
• Who will be involved in the application process?
  • What are their skills and expertise? – must be able to write well, prepare budgets and keep records
  • Is a fundraising committee required? 
  • How much time do they have to commit to fundraising?

For more information on the different initiatives that your organization can undertake to boost your fundraising efforts and how you can engage skilled volunteers to help the process, see Ways to Get Ahead in Your Fundraising Game and How Skilled Volunteers Can Help

Source: Age UK Norfolk

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Read the Disaster Fundraising: A Quick Guide for Grant Seeking to find out how you can fundraise for your organization during tumultuous times, so that your beneficiaries – the underserved – will continue to be served.

If you are a social impact entrepreneur in Hong Kong, make use of the fundraising guides and toolkits in our Entrepreneur’s Toolkit to build financial stability for your company.

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Read this resource published by Fundraising KIT to learn more about the concept of donor moves management fundraising, its different stages, and how donor segmentation can enable you to send more targeted messages.

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An occasion like this calls for an elevator pitch: a short summary of your organization or project that you can convey in the time it takes to complete an elevator ride.

When crafted and delivered well, an elevator pitch can result in further relationship development and increased support for your organization.

Read this resource by Nonprofit Hub to learn more about how to craft a successful elevator pitch.

If you are a social impact entrepreneur seeking early-stage start-up funding, read our Checklist for Fund-Seeking Startup Founders to explore external fundraising and financing opportunities in Hong Kong as well as our tips on business pitching,

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