Is Your Board and Development Committee Ready to Raise as Much Money as Possible?
Take this Quiz and find out!.
With rising inflation and the upcoming elections creating uncertainty, nonprofit leaders need to ensure they are effectively collaborating with their boards and development committees. How well are you positioned to navigate these pressing issues? Take this quiz for a gut check on some board governance and fundraising fundamentals. I follow each question with one piece of practical advice tailored to your current environment.
Question 1: Understanding Economic Impact
Q: Has your board adjusted to the impact of rising inflation on your organization’s operations and fundraising efforts?
- A: They are very well-informed and proactive in addressing the impacts.
- B: They are somewhat informed but could use more detailed insights, guidance and planning.
- C: They have minimal understanding of these impacts.
Advice: If you answered B or C, consider organizing a task force with the organization's financial director and the board’s financial and investment chair to collaboratively work to provide a clear picture of how inflation is affecting your resources and fundraising potential. Equip your board with the knowledge they need to make informed decisions.
Question 2: Fundraising Strategy Adaptation
Q: Relatedly, has your development office and development committee adapted the fundraising strategy to address the challenges posed by inflation and economic uncertainty?
- A: Yes, we have revised our strategies and are actively implementing changes.
- B: We are in the process of revising our strategies to adapt to current times.
- C: No, we are still following our old strategies.
Advice: For those who answered B or C, it's crucial to revisit your fundraising strategies. Consider diversifying your revenue streams, focusing on things like non-governmental sources, individual donor development and retention, and new fundraising methods such as virtual events or peer-to-peer campaigns. Stay flexible and innovative to maintain donor engagement.
Question 3: Communication and Transparency
Q: How frequently do you internally communicate with your board and development committee about current challenges and opportunities?
- A: We have regular, detailed updates and open communication channels.
- B: We communicate periodically, but not as often as we should.
- C: Communication is infrequent and lacks depth.
Advice: If you choose B or C, increase the frequency and depth of your communications. Regular updates through emails, meetings, or virtual check-ins can keep everyone informed and engaged, fostering a stronger, unified approach to tackling issues. Even short touchpoints can go a long way, especially if they’re frequent and personal.
Question 4: Election Preparedness
Q: Is your development committee prepared to navigate the potential uncertainty that can arise when elections impact policy and funding priorities?
- A: Yes, they are actively monitoring and preparing for different scenarios.
- B: They are aware but haven't started detailed planning.
- C: No, they haven't considered the potential impacts.
Advice: For those who answered B or C, initiate scenario planning sessions to discuss possible election outcomes and their implications for your nonprofit. Developing contingency plans for various constituents will help your team stay resilient and adaptable.
Question 5: Advocacy and Policy Influence
Q: How involved is your board in external relationships and advocacy efforts related to policy changes that may affect your nonprofit?
- A: They are very active and regularly engage with policymakers.
- B: They are somewhat involved but not consistently.
- C: They are not involved in advocacy efforts.
Advice: If you answered B or C, boost your outreach to external organizations and board's advocacy efforts by identifying key policy issues, providing training on effective advocacy, and facilitating connections with policymakers. Active engagement can help protect your organization's interests and amplify its impact, at the same time that you empower your trustees to act as ambassadors for the organization.
Scoring:
- Mostly A's: Excellent! You are well-prepared to work effectively with your board and development committee amidst current challenges. Keep up the proactive and informed approach.
- Mostly B's: You're on the right track but need to enhance some areas. Focus on increasing communication, strategic planning, and board engagement.
- Mostly C's: There’s significant room for improvement. Prioritize educating your board, updating your strategies, and fostering a more collaborative environment.
Conclusion:
Now that you’ve completed the quiz, how do you feel about the results? In these uncertain times, effective collaboration with your board and development committee is more critical than ever. By taking proactive steps and addressing any gaps revealed in this quiz, you can strengthen your organization's resilience and ability to thrive.
Most importantly, Board members want to help! They often respond well to workshops and guided roundtables to help them think through how they can use their individual talents to be most effective. They want to stay informed, communicate openly, and adapt strategically to ensure your nonprofit's continued success, and you can help them do that!
Need help with your Board? Feel free to contact me!
Carolyn Okin
Board governance and fundraising consultant
carolyn@carolynokinconsulting.com
201.805.6689
https://www.linkedin.com/in/carolyn-okin-1452ba178/