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Fundraising Success

Fundraising Success . Applying a Proven Philanthropic Model to Downtown Revitalization . Participatory Session. Name Position Title Organization Main Objective Group Discussions First: Assign note taker: who likes to write? Assign reporter: who likes to talk in front of a group?.

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Fundraising Success

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  1. Fundraising Success Applying a Proven Philanthropic Model to Downtown Revitalization

  2. Participatory Session • Name • Position Title • Organization • Main Objective • Group Discussions • First: • Assign note taker: who likes to write? • Assign reporter: who likes to talk in front of a group?

  3. Fundraising is Fun! • If you enjoy working with a high functioning team. • If you’re proud of the work you are doing. • If you’re committed to the cause you’re pursuing. • I get to meet fascinating people that you get to talk to about meaningful issues.

  4. My Story • Not a professional fundraiser • But enjoy doing it • See myself as an entrepreneur • Leveraging existing revenue streams (BID, membership, etc) • to increase impact on our core mission. • Result: Tripled operating budget over past 5 years • + Raised 300k for downtown plan

  5. Clearly Defined Mission is Crucial • Results in higher productivity and efficiency • Discourages taking on new sexy projects that undermine core mission. • What are the key attributes of a mission statement?

  6. My Preference • Okay to have a separate vision statement • But consolidating your vision or main aspiration makes it easier for staff, board, stakeholders to understand • And makes for easy communication with funders! • Avoid “fuzzy mission syndrome”

  7. Key Components of Mission Statement According to David • Main Aspiration/Vision/Goal Up Front • Unique Role that guides how you attack your aspiration • List the specific services you provide every day that impacts the longer-term aspiration • Circular logic – its impenetrable!!!

  8. DRA Mission: • Aspiration: Continue the revitalization of Raleigh’s Central District! • $2.5 billion in new investments since 2005 • Unique Role of the organization: By enhancing (essential BID role) the investments of our public and private sector stakeholders • Saying clean and safe only, or create a live work play environment is meaningless and is really downplaying your impact!!!

  9. How do we impact the continued revitalization of downtown on a daily basis? • Through Five Core or Performance Services • Economic Development (Attracting Investment) • Clean and Safety Patrol Ambassadors (Maintaining physical environment) • Branding, Marketing and Events (Inviting & Hosting community) • Advocacy, Membership, and Planning (Engaging our stakeholders) • Public Space Management: (Bringing to Life)

  10. Based on Book Entitled: Getting to Giving: Fundraising the Entrepreneurial Way by a billion-dollar fundraiser Authors: Howard Stevenson With Shirley Spence

  11. Key Tenets of Fundraising • Fundraising is far more professionalized • But it remains a personal act • Its voluntary • Lots of people give money without getting something tangible

  12. More Tenets • If you’ve done your homework, people will say “yes” more often than not. • It’s measurable: you know exactly how you’re doing. • You have to find the right prospects. • Every organization has to be entrepreneurial. • Nonprofits (including BIDs) must pursue opportunities beyond the resources they currently control

  13. Fundraising: The Donor’s Four Big Questions • Are you doing important work? • Are you well managed? • Will my donation make a difference? • Will the experience be satisfying to me? • The Donor Must Implicitly say yes to these four questions about your organization and your cause.

  14. Detailed Table

  15. Key Responsibilities of Fundraising Leader • Create a shared vision of success • Accept responsibility for financial health of organization • Ensuring fundraising plans are ambitious but realistic • Take the competitive landscape into account • Build competencies on every dimension • Ensure fundraising plans are well-executed • Ensure resources are available to everyone • Remove impediments to performance • Set ethical standards and norms

  16. Formula: Measuring Your Fundraising PerformanceDeveloping the Appropriate Strategy • Number of Donors x Closing % x Average Gift = Total Dollars (page 32) • Each variable is a “point of leverage” for developing a strategy • Raising $500,000 through 100 (5,000) donations will take forever • Get one $100,000 donation and two of $50,000

  17. Success in Fundraising Leadership Laying Foundation for societal good (revitalized downtown) that others will build on Helping Others Achieve their goals and improve their lives Getting results, while solving important societal (dirty and dangerous downtown) problems Satisfaction in job well done, working with people you respect

  18. Raising Money: Breaking Down Key Aspects of Fundraising Leadership

  19. Applying Model to Corporate Executives versus a Philanthropist • Every CEO wants to be part of a successful “group” or organization • Focus on sense of achievement for younger executives, legacy for older ones • If not the CEO, ask your board member of SVP how should the request be made? • Ex – lead gift for a downtown plan

  20. Group Discussion:Are you doing important work? • Passion for Mission: • What are the social/community benefits of a successful downtown? • What are the dangers of a dying downtown?

  21. Group Discussion:Are you well managed? • How do I know your organization is well-managed? • List 5 quantitative indicators of your organization’s past success.

  22. Group Discussion:Will my gift make a difference? • Be clear on impact and outcomes. • Identify a fundraising project • List 5 quantifiable outcomes if project is funded

  23. Group Discussion:Will the experience be satisfying to me? • List 5 best practices that display excellent customer service from the time you make the request to after the donor has agreed to make a contribution.

  24. Benefits • One Approach for every situation • Model is easily tailored to donor • Can be used to help yourself and other nonprofits • To fund a new downtown plan • To fund a day-time facility for homeless • To fund a live-work space for creative class • To fund a new park in your downtown

  25. Lessons Learned • Searching for magic tool for anything in your work is folly • Avoid the magic bullet philosophy!! • Constantly refining your approach based on a proven model is easier and you will enjoy success over the long-term • Buy the book!

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