If you think creating a strategic fundraising plan is scary, try not having one
Unlike this scary creature, no crystal ball will show your organization’s fundraising future. You have to make a plan.
Even during COVID, you should have a plan. Instead, it would be best if you were moving forward with your fundraising plan, making room for adjustments and pivots, and even re-imaging aspects of your plan in this new climate of uncertainty. Fundraising planning is a service I offer clients. Interestingly, many folks don’t think about a plan unless they are considering a capital or comprehensive campaign. Every fundraising department should have a multi-year plan that is not just based on deliverables or goals but also a real vision for their fundraising department. And that plan should be aligned with a larger institutional plan. Goal setting is not a plan. It typically is an exercise done in collaboration with Finance and leadership about finite financial targets. Although it can and should be tied into the overall fundraising plan it doesn’t replace a strategic plan.
Folks usually find a strategic plan a bit scary. It isn’t as scary as it is time-consuming. Make sure you include others in creating a plan; this is not the time to go at it alone.
How to get started:
Start with Questions: We all have been caught up in the cycle of raising dollars based on goals passed down to us or created in partnership with Finance and the board. But how can we think about our fundraising more comprehensibly that would not just worry about this fiscal year but also think of the years to come? Do you want to create new donor experiences that align with your mission and programs? How do you want your donors to think and feel about your fundraising program? Start with questions before you dive into the logistics and process of planning.
Be Ready: Crafting a plan will take time. Weeks possibly even months as you work across departments and engaging stakeholders. Make sure your plan is connected to the larger organizational strategic plan and goals. Your plan should have a vision, specific goals, timeline, and benchmarks. Tips: Understand projected income, know fundraising needs, assess previous giving history, build a strategy for donors (individual and institutional) and major gifts, benchmarks, and realistic outcomes and goals. Start with a vision and create a few high-level goals that move beyond metrics. Think elevate organization profile or deepen donor engagement.
Collaborate: Make sure you have invited key people to the table. Depending on the organization, invite program directors, development committee chair, finance director, key board members, and of course executive director or president. You will need to invite people to the process at different stages but the plan should never be made in isolation.
Leadership support: Although I mentioned this above, leadership should be involved in crafting a plan but fully support the development of the plan. Receiving buy-in early will be essential to the success of your vision. Also, understanding the resources (staff and financial) needed to execute the plan and having open and constant communications about the organization’s willingness to invest and support the plan.
Execute: Create a document that can be easily referred to by your team and development committee and shared easily with leadership. Make sure you’re tracking your progress and sharing it with your staff, leadership, and the board. There may be elements of your plan that you share with your constituents, too, depending on the aspects of the plan. Benchmarking progress, sharing lessons learned, solving setbacks or unforeseen challenges with your staff and development committee is an effective way to build interest and co-ownership in your plan.
Your plan is not static; it should be dynamic. Review with your team on an annual basis organizational changes or new programs and services that may impact the plan. As we move into the new year, begin to ask questions of your team, your development committee, and other stakeholders about what could be possible for your fundraising efforts