Opportunity: A Legacy Feed is a unique concept that works for troops and groups who have been around a while and want to sustain their legacy beyond the current participation. Understanding how it works begins with a philosophy.
That philosophy has to do with why it is people tend to get behind it.
Description: We begin by opening a money market account with a local financial management company, such as Edward Jones Financial Company, the broker we use.
Then you let your community know that you have initiated this fund to ensure the legacy of your Scouting troop in the community for years to come.
Then the troop or nonprofit hosts a "Legacy Feed" fundraiser that promotes the fund and honors it's Legacy Members and Volunteers. Every organization has those who have contributed to it in the past, who are no longer attached, that would relish in being recognized for their previous contributions and support of the organization.
Revenue Strategy: With silent auctions, ticket sales, a dessert auction, and more... this event can bring in a healthy amount of funds while honoring and celebrating the unity of your organization within the community.
Upsells: Depending on the skill of your cooks, you can offer different menu levels, the addition of a dessert, To-Go boxes, etc. You can offer a discounted ticket for the following year if they buy it right then. You can also promote Legacy Plaques that get displayed where your troop meets for those who donate larger amounts. And because this is a "Legacy" dinner, you are able to offer long term donation strategies for the organization in general, such as annual and monthly renewals, because you are stating with this approach that you will be there for the long haul.
Concerns: Selling the idea of starting a legacy fund to your board when funds might already be tight, can be a tough thing to do but by presenting your organization to the community in this way, you are buying so much good will, integrating so tightly in the community and creating real partnerships that it compels them to make the leap of faith.
Another concern is that you should set aside about $1,000 to open the money market account so you can tell people that its initial funding has been established, as well some brokerages will have minimum investment requirements. But hopefully by employing the strategies on this platform you will raise more money and have enough to initiate the program.
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