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MAEOPP EMERGING LEADERS INSTITUTE
RESOURCE MANUAL FOR NON-PROFIT ORGANIZATIONS |
PROCEDURES FOR RAISING FUNDS
Introduction | Cultivating Relationships | Developing A Donor List | The Art of Asking | -Stewardship and FollowUp Procedures | Strategies of Funding | Possible Funding Projects
Introduction
This chapter provides non-profit organizations with important
considerations with which they may use to approach fundraising.
The ideas presented in this chapter are designed to give the non-profit
greater structure when implementing fundraising strategies.
Strategies expressed in this chapter include:
cultivating relationships, developing a donor list, the art of asking,
stewardship and follow-up procedures, strategies for obtaining funds, and
possible funding projects.
Cultivating Relationships
In order for successful fundraising to occur, relationships among board members must be cultivated. When considering board members it must be determined that they are committed to fundraising and serving their organization or community. In order to make this possible, the cause must be worthwhile and effective leadership must exist. The board should consist of individuals that have made an impact in the community and are willing to commit time and talent to making the organization successful.
The board is the engine that drives the non-profit organization. Each member is the driving force of the organization and is responsible not only for fundraising, but also designing, overseeing, and developing the organization as well. Board members should be the first to contribute to the organization.
Developing
a Donor List
Planning and preparation is the key to successful fundraising.
A list of possible donors should be developed and investigated as soon as
possible. Preferably the board should establish a committee to work as
a team on this project. Committee
members should compare notes and present their findings to the board.
The following strategies should be implemented once the board (and the committee) have been created:
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Develop a list of prospective donors and follow-u |
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Investigate the donors (past amounts contributed, organizations donated to, etc.) |
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Consider a variety of sources (newspapers, publications, journals, etc…) |
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Involve prospective donors in various organizational events |
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Acknowledge the donors’ concerns by addressing their questions |
The
Art of Asking
The desire of giving is a need. Although donors have a need to give, they may not be as likely to give if the request is vague and not worthy. Donors are entitled to information regarding the organization’s goals, amount requested, and whom the funds will benefit. Making the initial request requires planning and preparation. It is imperative that the right individual approaches the donor when soliciting funds. The following strategies should be implemented for an effective meeting:
| Let the donor know in advance that your organization will be visiting |
| The person who knows the donor should make the initial call |
| Take along a staff member who knows the history of the organization |
| Take a board member to the first meeting |
| Mention board members have donated to the organization |
| Specify amount requested |
| Know something about the donor (previous amounts given, organizations donated to, etc.) |
| Ask for more than less |
| Offer perks as an incentive to donate (plaques, name plates, etc.) |
| If the donor rejects the request keep the door open for future possibilities |
Stewardship
and Follow-Up Procedures
Effective stewardship entails being consistent and
has to be constantly maintained throughout the relationship of the donor and the
non-profit. It is imperative that the non-profit continues to nurture the
collaboration after the initial contact. These
simple strategies will increase the likelihood of success:
| Demonstrate your appreciation by letter, perks, or in person during lunch/dinner |
| Invite donor to organizational events |
| Provide donor with feedback on how things are going |
| Have donor meet the persons who are being assisted |
| Offer tours of organization and allow donors to view the budget |
Strategies Of Funding
There are several fundamental items that non-profits should keep in mind when seeking funds for their organization. The following list is designed to assist non-profits in their efforts to seek support from donor organizations:
| Determine existing need(s) |
| Document need(s) |
| Define purpose(s) |
| Determine desired outcome(s) |
| Develop method of presentation(s) |
| Determine timeline to receive funding |
| Target individuals who would support initiative |
| Present purpose and desired funding |
| Follow-up to determine results and show appreciation |
Possible
Funding Projects
In
the quest to impact their
community, it seems that there are an array of challenges that await the new
non-profit organization. Many of
these challenges define the very purpose and function of the non-profit.
Here are a list of potential
projects subject to non-profit solicitation through MAEOPP or one of the state
chapters:
| Student
entrepreneurship training |
| Research
fair for undergraduate and graduate students |
| Marketing
and public relations training |
| Management
training |
| Workshops
and technical training for professional and support staff |
| Equipment
and training in technology for staff and students |
| Study
abroad experiences for students |
| Grant
writing workshops to obtain external funds |
| Job
and career skills for students |
| Professional
development programs for students |
| Business
organizations offering internships and/or stipends |
| Supplemental
program grants (i.e. increase stipends) |
| Cultural
events |
| Scholarships
for students |
| Funding
for SSS summer component |
| Year-end
cultural/educational trips for programs |
| Statewide
activities (i.e. College Fairs, trainings, TRIO Day, etc.) |
