How to become a non-profit Fundraising Animal.
Ah yes. The mighty F word. The word that makes so many nonprofit organizations uncomfortable when mentioned – fundraising! I mean, why shouldn’t it make you uncomfortable? Money is an uncomfortable conversation. Especially asking for money. That shouldn’t be the case. Money talk can be less of a hustle. Here are a few things you’ll need to understand;
Why am I fundraising?
Whoever has the best story, wins the day. There has to be a story driving your fundraising campaign. At Impact Africa Network, our fundraising campaigns rely majorly on emails as the point of contact. Our story is literally the pitch—the needle mover. So, if a story is what gets you into the door, communicating the ‘why’ behind the campaign should be prioritized.
The work we do at Impact Africa Network can only be sustained best through a 501c3 model. Changing the African narrative by empowering our innovation fellows straight out of college with the paradigm shift in mindset, needs a structure of funding that is less ‘strings attached’ and more impact-driven. There is a resonance behind a philanthropic donation that goes deeper than corporate funding. I am part of the team that is tasked with ensuring our cause doesn’t wither out. That the projects we are working on continue to be watered every day so as to grow into solutions to Africa’s problems. See, that’s a story. It answers the why behind the fundraising campaign. It is a story that makes me proud that I am on the frontline for new Africa.
Some of the Innovation Fellows from the program
The story, therefore, is what matters. Everything else is persuasion and luck. But there’s no such thing as luck. You make your own. That is why you need;
Understanding the 'How'
You are armed with your story but it means nothing if it doesn’t get to the right people – the people who will help you turn your story into actionable results. As the fundraiser, you have to tell your story to the right audience. The scattergun approach won’t work. Answer the question, ‘who is my story relevant to?’ Be very specific and make sure your potential donor has an interest in your cause. List building is a fundraiser's biggest asset. It’s the holy grail as it contains every potential answer to your fundraising needs. Therefore, generate a list that contains every donor that aligns with your cause.
Now that you have your potential donors, understand;
The importance of relationship building.
As you reach out to your donors, keep in mind that the ask will only come across as genuine if it is backed by an authentic relationship. Yes, you can’t possibly build an entire relationship with a donor you have never met but you can make sure that you leave an impression by being authentic. Donors get hundreds of requests from nonprofits just like mine so what should make mine special? I ask myself this question every time I begin a fundraising campaign. I answer this by doing my due diligence on the donor. I understand their likes, what do they connect with, and what inspires their philanthropic activities? What is their platform? What is their story? How can I help them tell their story as they help me tell mine? Listen to podcasts they have featured; read blogs they have written and even their philanthropic history. Good thing is, all this information is all over the internet if you put in the work to source it. I know this is bordering on stalking vibes but this is the only way to understand your donor on a personal level.
As you initiate your email thread, keep it brief, casual but respectful. Keep in mind these are normal folks like yourself so the official ‘Sir and Madam’ talk could probably make them uncomfortable. Make the conversation more about them and less about you. If it's about you, it should be for example, why they should help you get to the moon and not what the moon is. What is NASA? What is the solar system? All this information dilutes the conversation and gets them disinterested in you.
Ask – DON’T ASK. DON’T GET.
Ask for what you want respectfully. You can fiddle with it all you want but you have to get it on eventually. After communicating your story and why they should help you tell it, finish with the magic words – ‘would you consider supporting our cause with...’ This softens the ask, giving the donor a chance to kindly decline. It also serves as a perfect Segway into the second part of the ask – what would you consider?
So, it’s out in the open now. You have made your ask but they;
Said No. Now what?
To be honest, why fundraising is a sensitive conversation goes back to our adherent fear of rejection as human beings. We do not like being told no because it leaves more questions than answers although it's an answer. Why did they say no? Is it something I said? Is it how I said it? If you follow my advice, most times, the reasons have nothing to do with you but other factors beyond your control such as; non-alignment with causes, concerns about your nonprofit’s track record or even timing. Take the ‘no’ gracefully and continue the conversation by asking for feedback on what informed their decision. You’ll be surprised at how much you can get out if you shift the no into an opportunity to learn. Maybe the fit was right but the timing was wrong because the donor has already set aside all philanthropic monies for that particular fiscal period. Now you know exactly when to reinitiate the conversation and potentially get funded. That’s the power of perspective.
Remember, as Aaliyah said, “If at first you don’t succeed, dust yourself off and try again...”
I tried again and got a yes!
That’s great. But now remember, it was never about the money, it was about the relationship. Well technically, yes, it was about the money but the money was only the consequence of the relationship you established. A relationship you have to sustain. Say thank you and proceed with the process of having the ask wired to you. Most fundraisers fumble the bag by terminating the relationship after the ask is honored. This, however, should be the beginning of the next stage of your relationship with your donor – sustenance. Most donors feel comfortable giving periodic donations, either semiannual or annual when there is a relationship post-funding. Keep them in the know of what is happening in your nonprofit, invite them for community events, send them newsletters and even show up for any events they could have organized. This will go a long way in establishing a long-lasting relationship between you and your donor.
In closing, if you forget anything else, remember this - fundraising is all about relationship building. The better your ability to foster solid relationships with your donors, the better your chances of getting over the F word.
Enough talk, let’s get to raising money!