11 Observations on Fundraising in an Uncertain Economy
The following rough outline was a presentation given at the NAADD Convention by Sheila Smith, Associate Vice President for Principal Gifts at The Ohio State University. It came during a presentation on The Future of Athletics Development. I found the presentation and points to be very applicable and something every development officer should know.
1.) Understand the Environment – This point spoke to the need for a development officer to see the life of the donor. This means watching the stock market for clues on the donor’s company performance and being able to talk intelligently about business matters. Also, she mentioned she tries to see donors on a day when their stock is going up!
2.) It is Competitive – There are more and more non-profits rising up all across America every day and they are all asking for gifts and contributions. This forces a development officer to be on top of their game, which only makes the school and the fundraiser better.
3.) Understand your Case for Support – This is was an excellent point for any type of fundraising organization. In two concise paragraphs, be able to define why people should donate to your cause. It will most certainly come into use when talking to new prospects and current donors.
4.) Engagement is the Key to Investment – A development officer should let people know that they care. Engagement should get people involved and not always worry about a gift right away.
5.) Be Open to New Collaborations – Seek new possibilities and resources across campus. This could mean a partnership with the communications department to produce a video or working with the IT office for online event registration.
6.) Be Inclusive - In today’s society, it is vitally important to include both parts of the couple in recognizing gifts and in building relationships. Women tend to be more generous than men, so never assume you should focus on one person, include both as equals. In fact, at Ohio State, they give awards to couples, not just one person.
7.) Results Really Matter – When a donor makes a gift, they need to see the impact of that gift, not be told to wait four to five years for project completion. When they can see a near immediate effect, they will feel their gift has gone to a worthy cause.
8.) Consistently Inventory your Development Assets – Use this practice to come up with innovations and imitations of best practices. Make lists of these assets and brainstorm on ways to use them.
9.) Rethink Endowments - Encourage donors to give cash now or to causes that are pressing. Endowments are important, but with the stock market hit, they can lose some value.
10.) There are Winners, Even in a Down Economy – While some or even most companies will be hurt by economic downturn, there will still be some that come out ahead. Find those companies and donors.
11.) Never Give up on a Prospect – There is always another move to engage the prospect or a different approach. Seek those out in tough times.
This is just one piece of our 2010 NACDA Convention Coverage. Over the course of the next few weeks, we will be posting on more topics we learned about during our time in Anaheim.
Taylor Wood
