Strategies for Keeping Funds Up When The Economy Is Down
Many of you have expressed frustration with the down-turned economy and the impact it has had on your organization's endowment, the endowments of your supporters, and much more. Sometimes in the toughest of times, we can find our greatest inspiration.
Take this time to review your organization's strengths and weaknesses. Which strengths can you leverage during this time? Long-time donors? Passionate board? Which weaknesses do you have the opportunity to address? No formal stewardship program? No donor management database? Think of these in the larger context of grant seeking and grant making and share your strategies for using this tough time to take your organization to the next level! It can be done!
Share your strategies ... and creative solutions.
Take this time to review your organization's strengths and weaknesses. Which strengths can you leverage during this time? Long-time donors? Passionate board? Which weaknesses do you have the opportunity to address? No formal stewardship program? No donor management database? Think of these in the larger context of grant seeking and grant making and share your strategies for using this tough time to take your organization to the next level! It can be done!
Share your strategies ... and creative solutions.
Replies to This Discussion
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Permalink Reply by Carol Diveny on -
Although your past funding from a loyal grantor may be cut in half or not be granted this year, the current climate presents a great opportunity to stay in touch with donors, maintain relationships or just put your name out there. Perhaps your corporate donors can make inkind donations in lieu of a grant. Or if your organization has programs where corporate employees can volunteer such as a walk, mentoring program, etc., keeping them involved will help when things begin to turn around.
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Permalink Reply by Joseph V Held on -
Times right now stink! The money pool has dried up but if there is a silver lining it is this. We have become more diligent in searching for lesser known private and public foundations. Out of necessity, we must dig deeper for less money. I think this challenging time will result in a stronger organization once the economy turns around. We have been forced to become thrifty with the funds that we currently have and are receiving. Instead of lavish spending on new equipment, etc. We are receiving less in grant funds but by being thrifty in the use of the funds by not always buying new or accepting bids from the lowest bidder versus selecting the company that has connections to the organization, we all know oft his.My cousin works for this company so we are gonna choose him to do the work even though they are not the lowest bid. Becoming thrifty is becoming efficient. Just as the survivors of the great depression learned how to make things stretch,and continued with that tenancies for the rest of their lives, so too will non-profit agencies will become more thrifty and efficient and hopefully will remain so.
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Permalink Reply by Ron P. Muriera on -
Given the current economic situation, I have been able to get our organization to "think outside of the box". Our development team (myself, our development director and programs assistant) brainstorm on a weekly basis on possible funding prospects, connections and strategies. We found through these brainstorming sessions that several of our individual donors also sit on boards of family and corporate foundations. As a result, we have been able to gain access with an invitation that has led to the submission of a grant proposal to one of these family foundations (which led to successfuly receiving a grant award!).
We are also re-engaging our stakeholders (donors, funders, community members) by holding scheduled "focus group luncheons" sponsored by our board officers (they pick up the tab!). We facilitate conversations about issues in the community that we as an organization are addressing and responding to, and solicit other areas that we should be looking for funding. We have held 2 of these focus group luncheons so far, and they have been very successful. We are planning another luncheon for January.
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Permalink Reply by Melanie R. Negrin, GPC on -
Thanks, Ron. Sounds like you are on an excellent track. I hope others can learn from your experience. Amazing how much more you can do with the supporters you already have, isn't it? I have a client doing something similar, reaching out to engage current donors in new ways. Love the idea of engaging the board in "focus group luncheons". I hope you will continue to share your success stories. ~ Melanie
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Permalink Reply by Pamela Grow on -
For what it's worth, I'm sharing my article, Fundraising in a Recession - 7 Tips: http://www.pamelasgrantwritingblog.com/3/fundraising-in-a-recession.... I'm taking my own advice and am in the process of creating monthly giving programs for two of my clients. Not mentioned: pick up the phone. Spend 30 minutes to an hour a day calling donors to thank them. Call current and former foundation funders; ask their advice on other potential funding sources.
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Permalink Reply by Saadia Faruqi on -
Melanie,
Perhaps the best positive that comes out of a weak economy is an increase in true partnerships between nonprofits. Many of my clients and the organizations I surveyed recently reported that they have started working with their counterparts not only to provide services but also to save on back office operations, training resources and much more. And funders love that too!
Saadia Faruqi
http://grantwriterszone.blogspot.com/
© 2012 Created by Melanie R. Negrin, GPC.
