How to Ask for Money as a Nonprofit Organization
As non profit organizations part of our job descriptions, no matter what our job description is, is “ask for money”.
If it’s not, it should be.
Why? To sustain our missions, to further our missions, to be able to do more than the bare minimum, fundraising powers our dreams and oftentimes, our bottom lines. So how do we ask for money? Is there a rhyme to the reason? A method to the madness? A way to make it a little less terrifying to think of, much less do? Absolutely.
There are a few basic boxes to check before you make your ask, and they’re sure to give you the confidence you need to be bold in asking for the support needed to further your organization’s mission.
Identify who you’re going to ask, what you’re going to ask for (a specific amount), and what it will do for your mission. Does anyone else need to be with you to make the ask? Does anyone else need to be with them for you to ask?
Practice making the ask. Yes. Practice. Say the words out loud “we would love for you to consider a gift of $25,000 to become a member of our Founding Society to ensure we can continue to provide X, Y, Z services to the children of our community”.
Consider hard to answer questions ahead of time. What questions are you worried they might ask? What are the answers to those questions, or how will you answer? A LOT of anxiety can be calmed if you’re prepared to answer any questions. Bonus points, you might not know ALL the answers, and that’s ok. Know how to get the right person to answer them, and report back.
Plan what you’ll need, where you’ll be, and how to establish a follow up. This is important to give you an additional level of confidence.
Do you need collateral about the giving club you’re asking them to join? Do you need example of what their name might look like above the area you’re asking them to name? Do you need some stories of impact that your organization has made lately? What about a pledge card for them to fill out when they say “yes, absolutely, we would be honored!”? Have these items, and make sure not to lay them out until after your ask.
Where will the prospect or donor be the most comfortable for this conversation? Their home, on a tour, at a lunch or coffee, there are a multitude of places you can initiate the ask, but make sure to consider your environment. You don’t want a server asking if you want dessert as you’re making your pitch. Plan accordingly, you’ll be glad you did.
How will you follow up? By saying, “can I give you a call Thursday?” or “when would be a good time for me to follow up, I want to make sure to schedule that time”. Don’t leave it open ended with something like “I’ll give you a call when I talk to my accountant”, or “we’ll think about it and you’ll hear from us”.
Imagine yourself in their seat. What would you want to hear if you were them? What would you want to hear to help you WANT to give money, to help, to say “yes”? The more you can think like your prospect, the more prepared you will be to ask confidently.
Ground yourself in your mission. Have a few powerful impact stories that inspire YOU and remind you why you’re asking for money, why your organization needs the funds. If you’re truly grounded in the mission and the impact of what you do for the world, you become someone asking others to join you in your quest, not just asking them to open their wallets and throw money at something.
Confidence is key in making asks, no matter the size. If you identify properly, practice out loud, consider hard questions ahead of time, plan out the details, and imagine yourself on the other side of the table, and ground yourself firmly in your mission, you’ll have the confidence you need to successfully make the asks.
And remember, in fundraising we like to think in the law of thirds. One third of your asks will be successful, one third will be a different amount than you ask for, and one third will be people better suited to support other organizations (our polite way of saying, the painful ones). When you get a “no”, dust yourself off, ground yourself in the mission, and move forward.
Whether you’re asking for a gift of $1000 or $1M it’s important to be flexible and remember that you’re asking for them to be a part of your mission. Think of the act of becoming a donor of your organization as an exciting and exclusive invitation and that will radiate from you as you make your appeal. Be brave, be bold, and raise that money!
Having any trouble making “The Ask”? You might benefit from one-on-one coaching from one of our PRIDE Philanthropy team members! Feel free to schedule a free call with us, we would love to help you learn to “ask” like a pro.
