7 Things Board Members Can Do to Raise More Money
I am often asked by exhausted board members and executive directors what the board can do to raise more money. My answer, let me tell you right away, is NEVER to launch a new event. Don’t get me started on my anti-events rant, that’s another post.
But there are other things that board members can do to raise significantly more money for their organization, in a much more effective way. Here are seven to get you started.
Make a significant financial investment in the organization. This is so obvious, yet rarely does a nonprofit organization enjoy 100 percent giving from the board. And those that do often have several board members who are only making “token” gifts. If the nonprofit on whose board you serve isn’t on the list of your top three nonprofits and you aren’t allocating your philanthropic dollars accordingly, then get off the board.
2. Open doors
Open up your network to the organization. We all have friends, colleagues, co-workers, family members, neighbors. They may not all be $10,000+ level givers, but you would be surprised at the capacity that probably does exist there. If you really believe in the organization, then spread the word about your involvement to your network and encourage people to become involved. If you’re uncomfortable doing this then perhaps you need to rethink how committed you are to the organization.
3. Get strategic
Demand that your nonprofit creates a strategic plan. Without an articulated direction and a strategy for getting there, how are you going to get donors to invest? So many nonprofit organizations operate without a plan, and that’s probably why they struggle to raise funds. People donate to a cause, but they invest in an executable strategy for impact. The former results in small gifts. The latter brings big dollars.