Inflation is at a 40-year high, and it is hitting nonprofit organizations particularly hard. The impact is two-fold: It wreaks havoc on any organization with tight budgetary constraints, and it can negatively impact donations from donors and association members, who must choose between giving less or not at all.

Even when nonprofits receive the same amounts, the purchasing power of those funds declines as the cost of goods and services rise. This creates a challenge for nonprofit event planners. While budgets are being stretched, events that attract cash-conscious attendees struggle with having to either raise ticket prices or take a revenue cut.

How can nonprofits organize quality events during times of inflation?

While there is no magic wand to get around event inflation, there are some very logical steps every event planner can take to maximize purchasing power and continue to host high-caliber nonprofit events.

Double your planning time. Doubling your event planning cycle increases your timeframe for consulting with potential vendors. Use the additional time to negotiate better value prices and compare more suppliers to ensure that you’re getting the best deal.

Boost your purchasing power. Start by asking for a nonprofit discount. This is a great screening question to determine whether the vendor is worth having more detailed discussions with. Then, leverage hosting multiple events a year—it can actually save you money. When engaging vendors, don’t exclusively discuss the next event. Talk about all your upcoming events. In the eyes of a vendor, hosting multiple events makes you a higher-value customer. Use this to your advantage and ask for a corresponding discount. Logistics-wise, this will save you a headache down the road, too. Your vendor will become more familiar with the needs of your events, increasing the efficiency and level of dedicated service.

Also, consider approaching other nonprofits hosting events at different times of the year. Discuss the possibility of combining your budgets and thus increasing your collective purchasing power.

Map logistics with precision. The setup and breakdown of your event can incur hefty costs. To minimize those costs, plan every detail meticulously to determine in advance where you can shave minutes and manpower. The less time this process takes, the fewer days you’ll need to hire your event venue一a notorious budget drain.

In the wake of the COVID-19 pandemic, most event attendees are looking to connect and exchange ideas with their peers. Focus your spending on enhancing those opportunities and meeting the goals of your events. Splurging on the latest technology and gadgets is an unnecessary expense in the eyes of your attendees.

Use event management software. Time is money. More often than not, nonprofit event planners do far more than just plan events. Maximize every minute of their workload by investing in event management software. Nonprofits typically have fewer resources dedicated to planning events. Event management software makes it easy to decentralize the planning process and facilitates collaboration. Dedicated tools are built for efficiency and controlling costs in your event budget. Associated costs such as printing attendance lists, invitations, and badges can also be cut by digitizing them. In addition, some event scheduling software have reduced pricing for nonprofit organizations that you can take advantage of.

Squeeze before you splurge. Tap into your vendors’ network before storming into making purchases. Most have a dedicated list of partner suppliers they frequently collaborate with. A referral from your selected vendor could secure you a discount from those secondary suppliers. You should also negotiate additional services or materials with your vendor. For example, a catering company may include cutlery, crockery, and waitstaff in the quote they’ve provided.

Rethink your catering. Food is high on an attendee’s priority list. It can seem trivial, but happy tummies are the key to attendee satisfaction and engagement during your event. That said, catering is expensive. To maximize quality without wincing at the price, rethink your dining setup. Sit-down meals are costly, requiring furniture rental, staff, a larger venue, and more set-up time. Buffets and “grab and go” are economical alternatives. These formats also set another tone for your event, which will encourage attendee interaction and networking.

Strive for flexibility. The venue is a large part of any event budget. If you’re hosting an in-person event, it’s an unavoidable expense. To cut costs, leverage any flexibility you have concerning timing and location. Weekends are notoriously more expensive than weekdays. When approaching venues, ask them to specify their off-peak periods to maximize savings. You should also consider choosing an area of the city that isn’t centrally located to avoid premium rental costs, but ensure that your chosen venue is located near public transport hubs.

Take a back-to-basics approach. Research by Sched, the event scheduling software firm where I am CEO, suggests that what attendees want from an event has changed post-pandemic: They care more about great content, a comfortable setting, and easy access to session content after the event than about amazing audio-visual and a swanky venue. Prioritizing the budget around what attendees want is a great way to potentially make hard decisions about what’s in and what’s out.                      

Nonprofits are suffering under the weight of event inflation and increased difficulty in generating donations. Its clear that every nonprofit has to set priorities for  spending on events, which are vital for fundraising and creating awareness around their causes. But by planning well ahead and speaking candidly with event vendors, nonprofits can increase their purchasing power and continue to host meaningful and impactful events that help drive their missions. 

Marvin McTaw is CEO of Sched, an event scheduling software firm.