Returns on fundraising expenditures in the voluntary sector

There has been much interest of late in the relative efficiency of various forms of fundraising activity. It is the purpose of this article to establish the typical returns that might be expected to accrue from a variety of fundraising methods. Based on a postal survey of the United Kingdom’s top five hundred fundraising charities, this article presents the average returns for nine different forms of fundraising. The authors also examine whether differences in returns between charities can be explained by size or sector effects. © 1999 Wiley Periodicals, Inc