How to Ask for Money for Your Nonprofit (Step by Step)
There are a variety of avenues to fund your nonprofit mission through donations, and for a longer list of all the best ways to raise money, check out our recent article, but today we will be walking step by step through the process for asking an individual donor or business for a cash gift to your nonprofit organization. Many new fundraising professionals are assigned this critical part of their job without ever having training or information on the best way to step through it, so hopefully this simple guide will help!
Asking for private donations can be one of the most challenging parts of running a nonprofit organization. However, we all know it is a crucial part of keeping your organization running and continuing to make a positive impact on society. Here are some steps to help you ask someone for a donation for your nonprofit:
Start with researching your prospect: Before approaching someone for a donation, it is essential to research your prospect thoroughly. We've outlined the process in detail for a place to get started. Learn about the potential donor, their interests, and any past donations they have made. This will help you tailor your approach and increase the chances of a successful donation.
Build a relationship first if possible: Building a relationship with the potential donor is crucial to a successful donation request. It is important to engage with the donor and establish a connection before making the ask. Attend events or participate in activities where the donor is present and take the opportunity to engage in conversation. Alternatively, you can enlist the help of a board member or volunteer who already knows the prospect to help set up the meeting and participate in the ask.
Develop a compelling case for support: A compelling case for support is critical to a successful donation request. Develop a clear and concise statement that explains why your nonprofit deserves their donation. Be specific about how their donation will make an impact and how it aligns with their values.
Determine the donation amount: Before making the ask, the amount you choose must be specific to the exact dollar, not a range and not an open ended ask. Consider the potential donor's giving history and capacity, and choose an amount that is reasonable and within their means. Be clear about the amount you are asking for and what it will be used for, and when in doubt, ask high! You'll never offend anyone over-asking.
Make the ask: When making the ask, be direct and to the point. Start by expressing gratitude for their time and support of your organization. Then, explain why their donation is essential and ask for the specified amount. Be confident and genuine in your approach.
Follow up: After making the ask, it is essential to follow up with the potential donor. Send a thank-you note or email, regardless of their response. If the donor agrees to donate, provide them with a pledge form and information on how to donate and what to expect next. If the donor declines, thank them for their consideration and ask if they would like to stay connected with your organization.
Evaluate and adjust: Finally, it is essential to evaluate your donation request efforts and make adjustments as needed. Analyze your approach and identify what worked and what didn't. Use this information to refine your strategy and improve your future efforts. You'll never get a "yes" every time, and that's okay!
Asking someone for a donation can be intimidating, but it is crucial to keep your nonprofit funded and growing. Making a concrete plan backed by preparation and research is the best way to ensure your donors continue to support your mission. The more you ask, and the more you ask correctly, the more impact you'll have on the good of the world!
Want to learn more about specific trainings on how to ask for donations for your nonprofit? We might be able to help! Set up a free chat with us to learn more and get your mission funded!
