In the first installment of this discussion, we explored different funding sources and how to set your nonprofit up for success in the early planning stages. This second section will explain building trust and a positive relationship with potential donors and stakeholders.
Demonstrate Success
A clear mission and a good plan can help an organization successfully carry out its operations. Although good planning is essential, it is also important to demonstrate the organization’s capacity by performing well in its current activities. For instance, if an organization is planning on launching a pilot program for after-school tutoring, then it should start by establishing a track record of success.
Most organizations start with a passion or need for their founders. Usually, these individuals are involved in the issue in some way. A clear understanding of their experience and qualifications can help an organization demonstrate its capacity.
One of the most critical factors an organization should consider when developing its track record of success is its relationship with an ally organization. This can help it build a stronger relationship with its potential customers.
Engage with Potential Donors
Reaching out to potential donors and partners is vital to developing an organization’s resources effectively. Although having an endless list of potential supporters is not necessary, it is essential to regularly engage those passionate about the organization’s mission.
Most new organizations start with the family and friends of their founders. However, as the organization matures, it should include other individuals and institutions passionate about the mission and supporting its efforts. Before a potential donor can give an organization financial support, it should be aware of its operations and goals.
One of the best ways to learn about an organization is through its existing supporters. This can be done through a relationship with someone who has already supported and is involved in the organization. Although it can be challenging to develop a list of potential supporters, having the discipline to cultivate each supporter can help an organization reach its goals. In addition to identifying and connecting with potential donors, it is also essential to maintain a consistent approach to fundraising.
Be a Good Steward
The success of an organization depends on its relationship with its potential donors and partners. Proper stewardship of its resources can help it achieve its goals and sustain its operations. Good stewardship involves planning and managing the organization’s resources effectively.