Bringing in the Bucks

In challenging economic times, many nonprofits find it’s even more difficult to do one of their toughest, but most important jobs: raise money.   Corporations that have provided generous support in the past may have cut their philanthropy.  Some individual contributors might have lost their jobs and, for human services agencies in particular, gone from donor to client.   A nonprofit’s investments may be down, and thus their financial cushion may have diminished. 

Nonprofits looking to boost their fundraising capacity might bring in experts to provide training or guidance.  Several kinds of technical assistance can help: creating a detailed fundraising plan, participating in fundraising training, or bringing in outsiders to guide you through developing a new revenue stream, such as an annual event. 

When creating a fundraising plan, organizations look at current sources of revenue, assess strengths and weaknesses, and lay out goals and specific action steps to raise new funds.  As a part of their plan, an organization could articulate how they will cultivate, approach, and thank new donor prospects.  Other organizations might bring in a consultant to train board members on one of their most important roles: raising funds to support the organization’s mission. 

How about you?  What strategies have you employed to raise funds in tough times? 

Resources related to fundraising plans and raising funds in tough economic times:
http://www.coloradononprofits.org/documents/HowToDevelopAFundRaisingPlan.pdf

http://www.richardmale.com/articleelementsofafundraisingplan.htm

http://www.afpnet.org/ka/ka-3.cfm?folder_id=2545&content_item_id=24662