Charitable donations continue to rise. It’s crucial that your organization capitalizes on donor generosity and finds new and exciting ways to raise more money for your cause. If your nonprofit organization is looking for a fun and simple fundraiser idea, consider hosting a penny social. These events are effective and relatively easy to put together.
Before hosting a penny social, your organization should consider a few factors to maximize your fundraising efforts and make the most of your event. We’ve created this guide to help you organize a penny social.
What Is A Penny Social?
A penny social is a type of fundraising event that combines elements of silent auctions and raffles. You may have heard them called by one of the following names:
- Penny raffle
- Penny party fundraiser
- Penny auction
- Tricky trays
- Penny sales
- Lucky number dinners
- Chance auctions
The “Penny” comes from this type of fundraising originally being extremely low-cost raffles and auctions, with bids starting at a penny. These events are a simple, effective way to collect donations that benefit your organization and your donors.
How A Penny Social Works
Standard penny socials involve the following steps:
- Fundraiser participants purchase event tickets similar to how they would buy raffle tickets.
- Participants explore the available prizes and place bids by leaving tickets with their favorite items. Most events allow people to submit as many tickets as they want for each prize.
- Once all participants in the event have spent their tickets on potential prizes, an emcee will randomly select a ticket for each prize.
- Winners collect their prizes at the event or shortly after in the following weeks.
Why Host A Penny Social
There are a few different reasons your nonprofit organization may want to host a penny social, including the following:
Easy Planning
Penny raffles are relatively simple for nonprofits to organize and host. When hosting one of these events, the most challenging tasks are collecting prizes from donors and getting the word out to participants about the fundraiser. As long as your team prepares and plans, bringing one of these events together is pretty straightforward from start to finish.
Suitable For Small Organizations
These fundraisers are easy to plan and ideal for small nonprofit organizations looking to tackle them with limited resources and assistance.
You can host a penny raffle in person in a simple event space with a few tables and light refreshments. And if you are uninterested in finding a physical venue or your donors are not local, you can easily host a virtual penny social.
Penny Socials Are Engaging And Casual
Another reason to try out a penny social is that they are very engaging for guests and may even encourage more people to check out your nonprofit’s mission. People enjoy getting something in return for their donations and playing games of chance, making this type of fundraiser fun and enthralling. Your donors will also appreciate how casual and easy-going these events can be.
Penny Socials Are Customizable
Your organization can make the most of a penny social fundraising event by customizing its rules and adding unique, playful elements like:
- Having a theme
- Serving food and drinks
- Offering a grand prize
How To Plan A Penny Social
Use these easy-to-follow steps to plan an effective penny social fundraiser for your nonprofit organization:
1. Set A Goal And Create Your Budget
The first step in planning a penny social is to identify your end goal and what you wish to gain from hosting the event. Don’t be afraid to set major goals — charitable giving continues to grow in the United States.
Once you set a fundraising goal, you should create a budget encompassing the event’s details, including any of the following:
- Venue costs
- Supplies
- Decor
- Food and drink
- Fundraising software
2. Engage Your Donors
Your organization needs to make important decisions about who will put the event together and ensure it runs smoothly. Choose between an in-person event, a virtual event, or a hybrid of both. If you go with an in-person event, it can be helpful to find a dedicated emcee to keep your donors engaged and your fundraiser on schedule on the day of the event.
3. Choose An Event Date
It is important to choose a specific date and time for your event as early as possible in the planning process. Consider the following when choosing an event time:
- Venue availability
- Holidays
- Other local events
- Participants’ availability
4. Choose A Theme And Gather Your Prizes
Once you know when and where your penny social will take place, decide if you want to go with a specific theme. Some organizations choose to offer prizes that go along with the theme. Others give the venue a fun theme but allow donors to give whatever prizes they wish.
It can be beneficial to ask local businesses for big-ticket items, especially if your organization wants to give away a grand prize.
5. Promote Event Details
As soon as your nonprofit works out all the details, be sure to share them with the local community and previous participants. Advertise what prizes attendees could win and any other perks of participating in the event. Don’t forget to share it on your organization’s website and social media pages.
6. Sell Raffle Tickets
Let’s dive into how to sell tickets to your guests. There are a few ways you can do this. You can use fundraising software to offer ticket packages online before the event if you choose to go digital.
By selling your penny social raffle tickets online using fundraising and donor management software, you can streamline this step of the event planning process.
If you decide to go with traditional physical tickets, your participants can buy these at the penny social. Be sure to keep a close track of ticket sales when selling in person.
Whether your organization opts for digital or physical tickets, the best way to sell raffle tickets is to stay organized and track every ticket sold.
7. Host Your Penny Social
Now, it is time for the fun part! The last step in the planning process is getting ready to host your event. For in-person events, be sure to account for preparation and cleanup times. Hosting will be even simpler if you choose a hybrid or virtual event! The key to throwing a great penny raffle is staying organized and presenting transparent instructions to your guests.
Request A Demo From GiveSmart Today!
GiveSmart mobile bidding and silent auction software give nonprofit and charity organizations the tools they need for effective fundraising events. We design our products to help our customers raise more money for their causes with less stress. Whether you want to host a raffle or sports tournament, we have the tools to help facilitate all kinds of exciting events.
