How to Create Strong, Strategic Fundraising Plans for the New Year

By Lauren Greene, Consultant

Fundraising is core to the success of every nonprofit. It enables these organizations to recruit the strongest staff, enhance their programming and volunteer opportunities, and maximize the impact of the important work they do in their communities every day. Precisely because fundraising is so important, we know it can be intimidating when it comes time for an organization – whether it is staff, board members or volunteers – to create their fundraising plan for the coming year.

As we’re in the final stages of 2024 and beginning to look ahead to 2025, we have four tips to help you create a strong fundraising plan for the coming year.

1. First and foremost, make sure your organization has a clear and inspiring mission and vision. This will guide the everyday work of your organization, and it will inspire your donors and potential donors to support you. As you prepare for the coming year, spend time thinking about your organization’s “why.” Aim to succinctly articulate a passionate and inspiring “why” and make sure any fundraising goal you set can be directly tied back to this vision and the specific impacts you are working to achieve. For more information on crafting “your why,” check out my colleague’s blog post The Power of Storytelling: Harnessing “Your Why” to Elevate Nonprofit Fundraising.
2. The next step is to set realistic fundraising goals. I know it can be tempting to be overly ambitious with your goals because the need in your community is great and your mission is incredibly critical. It is important, however, to look at your past activity as well as at national philanthropic and economic trends to inform your future plans. Keeping track of metrics will help guide you as you work to set goals that are challenging but achievable.
   • YOUR TIP: When thinking about how to set realistic fundraising goals, keep the S.M.A.R.T. acronym in mind. Aim to have goals that are Specific, Measurable, Attainable, Relevant and Time-Bound.
   • FOR EXAMPLEFor example, if your organization has never raised more than $1.5M in a given year, while it would be nice, it is probably not wise or attainable to set your 2025 goal at $10M. You should, instead, consider conducting a thorough review of the $1.5M you raised. Do you know your major donors? Are you aware of any that will not renew at the same level next year? Did you benefit from a grant this year but are restricted from applying for the next three years? Are you launching a new program that will excite your donors? Or is there a recession on the horizon? All of these factors should be considered as you set not only the overall dollar goal, but also other goals, such as:
     • Individual dollars raised
     • Corporate dollars raised
     • Total number of donors
     • Renewed donors
     • New donors
3. Engaging your team – whether this is staff, board members or volunteers – in your fundraising activity is another key to a successful program. These are the people closest to your organization, and they can speak personally about the good work that you are doing in the community. Involving staff outside of the development department will ensure that you know about any new program expansions or changes, keeping you up-to-date about the exciting work your organization is doing as well as creating an open door of communication and teamwork with your colleagues. Board members and volunteers have a unique opportunity to share their passion for your organization with their personal connections and, hopefully, help bring these folks in as new donors. As you are working with those involved in your organization’s fundraising activities, make sure that everyone knows what the goals are, how they can help achieve them, and that they have the appropriate tools to support their work (e.g., impact statements, newsletters, pledge forms).
4. And, finally, make sure to thank your donors. We cannot overstate the importance of a strong stewardship program and the impact it can have on your donor retention rate. Whether this is a personalized call, thank you note, or email, taking the time to thank your donors and showing the impact of their support is key to gaining their trust and building a relationship with them, which can encourage their future support.

A strong fundraising plan is key to the success of every nonprofit and will help guide your work throughout the year, but it is not set in stone. Be sure to reflect on what has worked in the past and revisit your plan regularly. Celebrate your successes as you hit your goals, and, if needed, adjust your goals to address any unforeseen challenges or opportunities. I would welcome the chance to talk about your fundraising program and how we can help you implement these tips to raise more dollars as you continue to create positive, lasting change in the communities you serve.