October 31, 2008Comments are closed.fundraising
I spent yesterday at the Givewell Nonprofit Finance Forum, the topic dubbed ‘best practice financial management for nonprofits’ with a hundred other groups all wanting the answer to the same question; how do we fundraise when people are watching their life savings vanish in front of their eyes?
The news is grim, with the speakers from several funds managers predicting a continued depression and an increasing need for our services as people struggle to make ends meet – and fail. Large companies are pulling their grants programs, leaving less options for funding and those who have secured funding, are under increasing pressure to perform. ‘Once a year’ fundraising events are struggling to find sponsors, supporters and attendees. And for those groups with existing investments, their capacity shrinks as the economy slows.
When your public is under financial stress, having a fan club becomes vital. A one-way relationship just isn’t going to cut it, when there are other leaner, hungrier groups competing for your supporters.
Groups may need to consolidate to eliminate the duplication of services and reduce overheads. And more than ever groups will need to market themselves, tell their stories and not be afraid to ask for support.
Simply, the present financial market is an opportunity for groups who have a drive to do things better to shine. Those who think they can underperform, underdeliver and neglect their supporters and still get by, are in for tough times.
My next few blogs will be about the inspirational ideas from the day;
Should groups consolidate?
Using social networking to reach your members
Are we a business?
And I highly recommend getting to a Givewell seminar if you can.
