In this episode, we are joined by Dave Sternberg, CFRM, author of Fearless Fundraising for Nonprofit Boards and founding partner of Loring, Sternberg and Associates. He walks us through the planning process of fundraising, best practices, and how to measure results.
- People want to make a difference. Dave reminds us that the United States is one of the most generous countries in terms of individual giving. Whether you’re a 501c(6) or 501c(3), there are donors or sponsors out there who want to give to you.
- Be sure to budget enough money to raise funds. Whether you use direct mail, email or other methods, ensure that you plan for all the expenses involved.
- Your donors are not ATMs. Raising funds is all about relationships. Individual donors and corporate sponsors are rarely a one-and-done deal. Foster these relationships by bringing them in on your mission and communicating often
- There are more ways to measure success than just the money. Dave recommends going to your donors and sponsors and asking about their experience in giving. Are they more engaged? Do they feel they made a difference? Are more people engaged in the work? Fundraising is so much more than just the dollars.
- You are not asking enough (measured in frequency and quantity). Dave says that you’ll know when you’ve tapped a sponsor or donor too much when they tell you so. Don’t hesitate to go back, explain why you’re asking, and see what they say. It’s all for a good cause.