Last Thursday, over 100 people joined us for our second Summer School webcast, Diversify Your Funding. David Holmes, of The Foundation Center Cleveland walked us through the actions nonprofits need to take to cultivate multiple revenue streams and develop a solid fundraising plan. If you missed the webcast, no worries. You can download the slides here and listen to a recording of the webcast here.
Two key messages David shared were 1) nonprofits need to stay true to their mission and 2) funders give because of the needs your organization responds to versus the needs of your organization.
David went on to explain that oftentimes nonprofits get off track in their fundraising efforts because they focus too much on their specific needs and deficits. We need to make up X in fundraising for our budget, we need to hire another staff person or we need a $1000 to fund Y. However, funders give because your organization’s mission meets their need to do something good and make a difference.
To attract funders to your organization and stay on track, nonprofits should take stock of their strengths and focus on the positive outcomes their organization delivers. To help nonprofits with this task, the Foundation Center recommends conducting an Assets Inventory first. A snapshot of what an Asset Inventory looks like is on the left. You can download it here courtesy of the Foundation Center.
The process of completing an assets inventory will help ensure your fundraising plan reflects your organization’s vision, showcases your accomplishments and clearly communicates how your mission meets the needs of potential funders.
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