Organizations must find new ways to secure funding with so much competition in the social good sector and limited funds. Nonprofit board fundraising plays a crucial role in helping them achieve their mission and goals. But these leadership groups often struggle with fundraising.
No matter what your organization does or who it serves, you should get your board involved beyond board governance. A well-functioning board offers a unique set of skills that aren’t duplicated elsewhere. So, with the right amount of support from your board, you can significantly increase your fundraising efforts.
Since nonprofit board fundraising is always a struggle, let’s explore five tips to help you increase their help.
1. Set your fundraising targets
Every board member should know their fundraising targets before they join your board. You should have an action plan outlining prospects you need to reach, when, and how you plan to ask for funding. Your board members should see this plan to know what you need of them. For instance, every board member could attend major gift meetings.
Set fundraising targets based on your organization’s needs for the year. If your organization needs $50,000 for its annual operating costs, set a fundraising target of $10,000 from your board alone. If your organization needs $100,000 for a project, set a fundraising target of $25,000 from your board alone.
2. Communicate often about your nonprofit board fundraising
Board members don’t want to hear from you only once a year. Your board should be considered an extension of your nonprofit marketing team. Meaning, that board members can help you plan and execute campaigns, recruit new donors, and obtain much-needed funds.
If you focus on fundraising for the organization’s needs, you prioritize nonprofit board fundraising. Your nonprofit board is valuable, from fundraising events to donor outreach. Give your board the information they need to participate in your organization actively. Make it a point to speak about the vision of the organization often. And underpin that vision and mission with money.
3. Ask for what you need
If you don’t ask for what you need, you won’t get it. That idea applies to everything, including fundraising. Be honest with your board members about what you need from them financially. You can’t expect them to read your mind. Many board members want to help but don’t know their options.
If you make your needs known, your board members can act. They may increase the amount they donate to your organization. Alternately, they may make introductions to donors interested in supporting your work. Or they could help you plan multi-channel fundraising efforts. Whatever you need, make sure to ask for it.
4. Be proud of what achieve
If your organization is just starting, you should find ways to highlight the value it brings to the community. Let your board members know the success stories the organization has had. As you know, people want to see a nonprofit’s impact. So, show them the difference the organization makes and the difference it can make in the future.
Highlight your organization’s achievements to show your board members the value they already provide. Let them know their donation is an investment in the organization’s success. It can help ease any concerns they may have about making a financial contribution.
Be transparent with your board
Asking for money can be a sensitive topic—even in nonprofit board fundraising efforts. Some board members may be reluctant to donate to your organization. Others may be unsure of how much to contribute. And still, others might like the prestige of board membership but will support the organization with minimal funds.
As a result, it’s vital to set clear expectations. First, you need to be transparent. Second, you should let board members know exactly what you expect from them. When you’re open and transparent, you help ease any concerns the board may have about your nonprofits. Further, your ‘open book’ approach means individual members should genuinely become part of the group.
Your board is your primary champion.
Many fundraisers believe board members should be your organization’s top fundraisers. If nothing else, they must be your primary champions opening doors to fundraising. As a result of their positions, they should be committed to your work. And as community leaders, they should have the connections you need to make a difference. With the right support, you can significantly increase their nonprofit board fundraising efforts to help your organization achieve its goals.
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