After reading Wendy’s post about endowments last week, I realized that there’s a second part to this issue. Because even if now isn’t the right time for an endowment or other major campaign, that’s not to say you can’t or shouldn’t be cultivating major gifts.
At last week’s Giving Institute Summer Symposium, keynote speaker Dr. Paul Light emphasized that the nonprofits with the foresight to become more robust organizations during this economic climate are the ones that will be able to grow when the economy recovers. And the way to accomplish that is by implementing a capacity-building plan now that fosters long-term sustainability.
In a recent article, Clara Miller, president and CEO of Nonprofit Finance Fund, wrote, “It may seem counterintuitive, but this is the time to invest in change and growth,” such as adding mission-based programs, new technology, and development infrastructure. “And the bottom line is that all theses ‘changing’ activities require capital.”
That’s why fundraising today is no longer an either/or situation. It’s not either do a major campaign or hunker down and pray that your annual appeal will see you through. Plus, as many nonprofits are finding out, government grants are going by the wayside.
To secure your financial future, ongoing major-gifts fundraising needs to become your “new normal.” What are you doing to move in that direction?