Just what are fundraisers supposed to be doing in between writing grant proposals and direct mail for new donors and grantmakers? Why maintaining our existing funding sources, of course! As in a marriage, the relationship doesn’t end with the wedding. It has to be continually and nurtured so that no one requests a divorce. In fundraising, sometimes we get that generous grant or major gift and we send a thank-you letter, then a final report, and expect to get a repeat gift the same time the very next year. This is a dangerous mindset. Instead, we should be thinking of every funding relationship as a precarious partnership that must be carefully stewarded in order for it to continue. But how do we do that? Some great fundraising tips regarding ongoing stewardship came my way this week from an article by Jennifer Mansfield on Charity Channel. Jennifer reminds fundraisers that it’s important to “keep the love alive” with your supporters to ensure a repeat gift, and gives us 5 ways to put this into practice:
- Inform – Keep the funder in your information loop, at very least funders should be getting your newsletter, a quick 6-month report on programs they’ve funded and an end-of-year report (whether they “require” one or not). A bonus would be clipping any good press the programs/agency gets and sending that along throughout the year. Try to meet with funders at least every other year (about midyear from a current grant); it’s a great opportunity to get their perspective on the funding scene.
- Invite – In most agencies there are events and public gatherings throughout the year. Make sure that your funders are on your VIP guest list especially if the event highlights a program they have supported.
- Excite – In the midst of all we have to do to get money in the door it’s important to remember to “spice things up” sometimes. Don’t rely on one cookie cutter template with every grant you write – revise and improve your grant format. Do you have new programs that this funder might want to support? Can you focus on growth or change in the agency that makes operational support look vital and worthwhile?
- Appreciate – Always send a personal and heartfelt thank you when we receive the funding – from the Executive Director or Board Chair. Unless they ask to remain anonymous list them in your newsletter and annual report.
- Understand – Work to understand where your donor is coming from – that they have many people/agencies wanting funding, many proposals to read and often this is not their day job. Do your best to make your requests compelling and to the point.
Don’t forget about your existing donors. By keeping these relationships at the forefront of your work, you have greater chances of sustaining funding for your organization!
