The 5 Steps to Maximize Your Board's Fundraising
An engaged and committed board of directors can be a powerful asset for any nonprofit organization. In addition to providing strategic guidance and oversight, a board can also play a significant role in fundraising. This is a point of frustration for SO many nonprofits, so you are not alone. Today we'll share five steps to help maximize your board's fundraising potential.
Set Fundraising Goals and Expectations To engage your board in fundraising, you must first set clear fundraising goals and expectations. Provide the board with a clear understanding of the organization's fundraising needs and the role that they can play in meeting those needs. Establish specific fundraising targets and create a plan for how the board can achieve them. Most boards were never given these precedents, and therefore are reluctant to fundraise if there is not a clear objective and timeframe in mind.
Provide Training and Support Many board members may not have experience in fundraising, so it's essential to provide initial training and ongoing support. Consider offering workshops or training sessions on fundraising best practices, and provide the board with the tools and resources they need to be successful. This might include sample fundraising letters, donor profiles, or fundraising scripts. Don't know where to start? Ask us! We've conducted hundreds if not thousands of board trainings over the years and may be able to get your board on the right track.
Create a Culture of Giving To maximize your board's fundraising potential, you need to create a culture of giving. Encourage the board to make a personal financial contribution to the organization, and celebrate their contributions publicly. By modeling the behavior you want to see, you can inspire the board to give and set an example for others in the organization. A board that does not have 100% participation in giving will never succeed in fundraising.
Assign Specific Roles and Responsibilities To ensure that fundraising efforts are successful, it's essential to assign specific roles and responsibilities to board members. Identify board members who have specific skills or connections that can be leveraged for fundraising, and assign them to specific tasks. This might include identifying and cultivating new donors, stewarding existing donors, or soliciting major gifts. Don't ask everyone to do everything, but do ask everyone to do something.
Monitor and Evaluate Performance To maximize your board's fundraising potential, you need to monitor and evaluate performance. Set up a system to track fundraising progress and evaluate the effectiveness of the board's efforts. Share progress reports with the board on a regular basis and recognize and celebrate their achievements. Putting some time on the agenda to review numbers adds accountability to the mix and encourages participation.
Getting a board that doesn't help raise money to start raising money can be tricky, but working through these steps one at a time, you can engage your board in fundraising and ensure that your organization has the resources it needs to achieve its mission!
Still need help? Schedule a chat with us to see if we can assist in jumpstarting your board's fundraising potential.
