| Have you ever
been asked to lend your business expertise to a not-for-profit board -
only to learn later that board members are expected to help raise money as
well? If you suddenly find yourself in this role, how can you help ensure
a successful campaign and the productive use of your own time and energy? Raising resources requires an investment, and a savvy board will determine early whether the organization is willing and able to spend appropriate amounts on technology, donor research, travel and communications. A successful campaign also requires: • The right development staff. • Committed, capable board and volunteer leadership. • A feasibility study confirming that a campaign is warranted and that goals are achievable. With this structure in place, the remaining steps all involve prospects - identifying, ranking and cultivating them; soliciting gifts; and keeping donors engaged. |
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With this
structure in place, the remaining steps all involve prospects -
identifying, ranking and cultivating them; soliciting gifts; and keeping
donors engaged. Identifying and ranking prospects Not all donors are created equal. Given limited resources, the organization must devote most of its attention to the prospects most likely to donate large gifts. A successful campaign will begin by using technology to create lists, starting with: • Past donors. • Relevant constituencies, such as alumni and parents (for a university). • Other individuals and organizations with some connection, including associates of board members, former board members and staff, and names drawn from files, annual reports, magazines and newsletters. Software and electronic screening tools can help generate estimates of each prospect's ability to give. Public sources provide biographical details, stock and property holdings, seats on boards and gifts. Lists can be sorted by assets, zip codes, affinity groups (upcoming reunion classes, for example) or giving patterns. A prospect's motivation to give - which will require further research - is as important as his or her ability to give. The higher a prospect ranks in both areas, the more personal attention the fund-raiser should devote to him or her. Cultivating prospects Visiting the prospect's home or workplace allows the fund-raiser to learn more about the donor's motivation and to customize giving opportunities that will match the donor's interests - making it easier for him or her to say yes. A university president and successful fund-raiser once asked a donor to endow a chair in engineering. The donor had earned an engineering degree at the university and had gone on to help build a multimillion-dollar firm. Surely, the president reasoned, the donor would be interested in supporting engineering students. But the donor had a different motivation. So proud was he of his children's involvement in the business that he did end up funding a chair - but in family business, not in engineering. Solicitation and stewardship While many board members cringe at the prospect of actually asking for the gift, thorough preparation and completion of earlier steps will ease the process. A savvy solicitor will present a one-page proposal with bullet points highlighting up to three options - leaving the donor less opportunity to say no if just one proposal is offered. Having the right folks present is crucial. The institution will want to include staff and volunteers important to the donor. The donor will want to include spouse, advisers and company officers. But the process doesn't end there; ongoing stewardship is crucial. At one institution, we discovered through research that a student's parents appeared very capable of giving. We involved them in university activities and then began soliciting them for $10,000 annual fund gifts. When the student graduated, we continued communicating with the parents - and eventually obtained a gift for a building renovation. Conclusion Any successful campaign achieves its fund-raising goals while also preparing the organization for the next campaign. With the right structures in place to support effective research, communications and stewardship, the organization will be well positioned to ask for more and bigger gifts in the future. Carol Wittmeyer, Ed.D. Carol is principal of the Meliora Group LLC, a firm devoted to serving leaders passionate for philanthropic success. She has been active in this area for decades and has national clients including colleges and universities, foundations and non-profits. Carol served as Interim VP for Newman University, where she led a $14.25 million campaign for a library. She served as Associate VP for University Relations at Alfred University where she managed the New Millennium Campaign raising $82 million, $7 million over goal. She served as VP for College Relations at Medaille College where she restructured the staff and procedures to model best practices. Annual giving, participation and trustee membership increased. For two years she served as President of the Raymond Family Business Institute, dedicated to serving family business owners. Along with colleagues from the Kauffman Foundation, London Business School, Babson College, and Kennesaw University, she coauthored projects in the 2003 Global Entrepreneur Monitor and the 2003 American Family Business Survey. Please respect the intellectual rights of the author.
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