Understanding the following terms will give you a head start as you plan and carry out a formal fundraising event.
Gross revenue: Total amount of money brought in through ticket sales, corporate or individual sponsorships, and revenue raised during the event through auctions, games, raffles, or donations.
Direct costs: All event-related expenses, from renting the space to hiring the band and caterer to paying for post-party cleanup. Advertising the gala in the local media, printing and mailing invitations, and paying an event-planning professional are other examples of direct costs. Direct costs can be offset by soliciting in-kind donations from merchants and service providers, or through sponsorships from local companies and individual donors.
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