- Know what you’re raising money for. Determine unfunded program needs. Be as specific as possible. What are the costs to fulfill these needs?
- Prepare a budget. Consider preparing two budgets, one covering only the basics with the second showing your “dream program.” Ultimately, you may approve a budget that is halfway between the two.
- Know why you’re raising money. Prepare your case for support. Why is it important for foster youth to receive supportive services offered by your college? What is your program’s mission, vision, and projected outcomes? How will you know if you’ve succeeded?
- Assess your existing resources. What personnel, money and in-kind support are already available to you? For example, find out what assistance your campus foundation can provide. This may be prospect/donor research, grantwriting, gift processing and acknowledgment, and/or fundraising training.
- Identify your prospects. Who are the people and institutions (foundations and corporations) most likely to support your program? See identifying prospects for a more detail discussion.