Are you planning to set up a donor wall for your organization? Nonprofits and charities often have donor walls erected to list the names of the people who have made financial contributions to their cause. A donor wall is a great way to showcase their names and provide them something tangible in return for their altruistic act. However, it is important that you set a budget for your donor wall. Else, you might end up spending more money than you had anticipated on it. Here are some points to consider for setting a budget for a donor wall:
First and foremost, you have to decide the type of donor recognitions walls you want to have for your organization. Donor walls can be simple, unfussy structures made of concrete, or you can dedicate an empty wall already there at your location. In either case, the cost of setting up the donor wall would be considerably lower than if you go for a fancy donor wall that features extensive use of multimedia or a digital display. Familiarize yourself with the different types of donor walls so you can set a budget.
You also have to account for the money you will have to pay to have the wall created and installed. Particularly with regards to touch screens and digital displays, the equipment you need could be expensive. Therefore, you have to set a budget accordingly. Once you have figured out the type of donor wall you want, this step becomes much easier.
You will have to assign someone the responsibility to look after the donor wall and ensure it remains functional and clean. Moreover, you might have to update the wall periodically as your list of donors grows. It has been observed that philanthropic organizations that have donor walls attract more donors. Maintenance and updating the names on the wall will both cost money. You have to add them to your budget.
Most organizations prefer to have a special event, at least a press conference, for the unveiling of the donor wall. If you are planning to conduct an unveiling event, add the projected costs you have to bear for it to your budget. After all, the costs are associated with the donor wall. Therefore, it makes sense that you add them to your budget.
Having a budget in hand helps you decide how much money you are willing to spend on a donor wall. Organizations that operate on limited money have to be careful when spending the cash at their disposal. This is why setting a budget for a donor wall is important so you can make the right decision.