What grade does your board earn in fundraising?
More than 73 percent of the United States’ charitable giving in 2010 came from individuals, according to Giving USA 2011. When coupled with BoardSource’s report that asserts fundraising is the area most in need of improvement, nonprofit leaders can’t afford to ignore this challenge any longer.
In fact, when nonprofit CEOs were asked by BoardSource to rate board performance on a report card, fundraising received the lowest grade, a D+, and only a C+ when board members rated themselves. Fundraising Guide author, Julia Walker, acknowledges a board’s capacity to raise funding doesn’t change overnight, she does demonstrate it’s absolutely possible over time.
Having personally gone through the board fundraising experience as board chair and board member, I was impressed by Walker’s thorough approach in her book. Chock full of interesting facts, real-world anecdotes and useful tables for planning purposes, Walker’s book doesn’t leave you guessing.
I’ll excerpt one of her sidebars today because it’s a good reminder about motivation. If you want to get better grades on board fundraising, consider first how to make the grade on reasons for giving.
“When asked about their chartable behavior, high-net-worth households reported that their top motivations for giving were:
• Being moved by how their gift can make a difference (72%).
• Feeling financially secure (71%).
• Giving to an organization that will use their donation efficiently (71%).
• Supporting the same causes or organizations annually (66%).”
This information was quoted from the AFP wire report on the 2010 Bank of America Merrill Lynch Study of High Net Worth Philanthropy and was conducted by Bank of America and Merrill Lynch in partnership with the Center of Philanthropy at Indiana University. The study focused on 800 high-net-worth households. Respondents’ household incomes were greater than $200,000; net assets were at least $1 million; and the average household wealth was $10.7 million excluding the value of their residences. Over 98 percent donated to charitable causes.
Think about what your supporting materials say to emphasize making a difference, spending efficiently and promoting financial security of your donors. Furthermore, consider how you’re training your board members to induce these feelings in their personal asks.
Watch for more highlights from Julia Walker’s book next week at our Page to Practice™ blog. If you can’t wait that long, purchase her book at www.wiley.com or download our Page to Practice™ summary and author interview by joining CausePlanet or visiting our summary store.
Photo credit: ACCCBuzz