Event Management Assignment Example | Topics and Well Written Essays - 1750 words

Event Management - Assignment Example The purpose of fundraising is usually organized by an individual or a social organization for non-profit purposes. However, fundraising is also used to obtain funds from potential entities that are capable of investing money in the interests of an organization typically for financing some strategic operation in which case, the practice of fundraising indicates towards a for-profit motive. There are a number of ways in which fundraising is usually organized. The first and the foremost among them is by way of an annual endowment that is usually received from either a governmental agency or a financial institution. Such an endowment is usually given on a periodic basis whenever the beneficiary has invested money on a prior basis so as to entitle it to receive such a periodic financial return. This form of fundraising is usually adopted by non-profit organizations in order to ensure a periodic flow of income that helps the organizations to perform its yearly activities (L. Peter Edles, 2006). There is also another form of fundraising, which is different fr... For example, a non-profit entity may sell devotional books in order to generate the necessary funds. It is also not uncommon to see banners in stores which say that a part of the proceeds would go towards the benefit of war veterans. This not only helps boost sales, but ensures that the intended target audience benefits in the end. There is also another form of fundraising wherein the organization that is to receive funds, does not receive it in the form of monetary funds, but rather some gifts are donated to it, in which case it is known as an 'In-kind gift'. The practice of fundraising is nowadays being vigorously being carried out over the internet too. Thus, it can be seen that the fundraising is carried out for a number of purposes by a number of entities for both profit and non-profit purposes (Adrian Sargeant and Elaine Jay, 2004). SPONSORS The concept of sponsorship is another important aspect of event management, wherein it is concerned with receiving financial and other forms of support from an individual or an organization in order to organize an event. Apart from supporting events, sponsorship is also utilized for supporting individuals as well as organizations that are in need of funds and are themselves unable to generate it on their own. Under sponsorship, the individual or organizations that arranges for providing the required assistance is referred to as a 'Sponsor'. Therefore, a sponsor would either have the necessary financial backing or the requisite capability to provide support such as personnel, infrastructure etc. or a combination of both. Unlike a fundraiser, a sponsorship is an activity that is intended to benefit both the Sponsor as well as the entity that receives the funds from the