It's no secret that fundraising is a significant part of sustaining any nonprofit organization. Without adequate funds, these organizations simply can't function, and the important work they do to help the community simply wouldn't be possible.

That's why it's so important to come up with creative and inventive ways to raise funds for your nonprofit. But how do you go about setting fundraising goals?

In this article, we'll look at some of the factors that affect fundraising goals and provide ideas about how to make the most of your efforts.

Public charities, also known as 501(c)(3)s by the IRS, must support themselves as they work on fulfilling their missions. Much of that support must come from the public.

To receive public funding charities must run fundraising campaigns directed toward individual donors. Nonprofits can also apply for foundation grants. Nonprofits can also charge fees for services, sell merchandise, and sell tickets for performances. There are specific rules for ow much income may be generated from charging for services. That revenue is called "earned" income, and many charities benefit from establishing these income sources.