7 Things I Wish I Knew About Fundraising

When I began as the inaugural Executive Director at Indy Pride, I had no idea how to fundraise for a nonprofit organization. Making matters worse, the relationships between donors and the organization was strained with several high-dollar funders walking away prior to starting my position. My stomach was in knots as I cobbled together donor notes and contact information. From there, I reached out to past donors and new ones, building strong, long-lasting partnerships and increasing budget revenue over 200% in my time with the organization.

Here is what I wish I knew at the beginning:

Overcome Midwest Nice

I am from a small, rural town outside Indianapolis and it is part of my genetic make-up to not ask for money which can be a barrier to fundraising. It took some time to realize that professionals and those who invest in philanthropic endeavors are not only used to being asked for money, but they respect honesty, directness, and concise communication.

Identify the Right Donors

Fundraising stress is real. As the fiscal year rolls on and fundraising goals seem out of reach, beware of mission/vision drift. In the short term, you may receive funding but this practice often is detrimental to an organization and will ultimately damage relationships with current and new donors.

Ask them to Coffee/Virtual Meeting and Invite Co-Workers

When working with potential funders/donors, invite contacts to virtual or in person meetings. At the beginning of the relationship, try to encourage contacts to bring co-workers or those with similar interests/roles in the company to ensure the relationship does not falter when job changes occur.

Share your Vision, Listen to Theirs

Especially during initial conversations, a few things must be clearly communicated. First, your passion and importance of the work being funded must be palpable without being overbearing or cynical. It is easy to focus on obstacles or spiral into cynicism, but it is crucial to approach conversations from a place of hope, optimism, and moving toward success. Second, clearly outline how funding will provide meaningful and tangible results to improve the lives of community members. Finally, ask potential donors what motivates them to want to support your organization.

Follow up quickly, but be patient

After a meeting, within two business days, sending a follow up email is expected. During the conversation, if you were asked to provide written information, a proposal, or any other deliverables, provide that quickly. While donors/funders may need several months to review proposals or make final decisions, responding quickly and efficiently will demonstrate your commitment and also stewardship.

Keep records of emails/contacts sent

Much of fundraising is reaching out and waiting for a response which sometimes comes months after an email was sent. Be patient! Document each time communication is sent to avoid becoming a nuisance or appearing absent.

Once you have their money, don’t forget about them

Fundraising is about building a relationship between your organization and theirs which should be mutually beneficial. The relationship will be strained if donors/funders receive little or no communication outside fundraising solicitation.

Further, follow donors on social media, subscribe to their newsletters, and set up Google alerts. It is important to send congratulations when they have professional or philanthropic success, even when it benefits other causes. Donors want to be part of a community and have little tolerance for what can be perceived as “cash grabs”.

If you would like to discuss your organization, fundraising goals, and maximizing impact, please reach out. I welcome the opportunity to meet you!

Chris Handberg