Four Key Questions... for Fundraisers to answer ....

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Howard H. Stevenson, a Harvard Business School expert on entrepreneurialism and himself a philanthropist, explains why people give and how fundraisers can reach them.

Fundraisers should expect to have to address four key questions when making their pitch for why their organization is uniquely positioned to tackle something that the donor cares about:

1. Does the organization do important work? Answering that question ties directly to how well its mission is articulated, and how important it is to the donor. Be bold and realistic in establishing a mission—and then make sure it’s communicated in a way that is memorable, differentiable, credible, inspirational, aspirational, and simple.
2. Is the organization well managed? “People who give significant gifts dive into that question pretty fiercely,” said Stevenson. Is the economic model sustainable? Is there effective governance? Is the organization’s staff passionate and collaborative in carrying out a mutually understood service model?
3. Will my gift make a difference? You must appeal to the head and the heart on this score. Show why the money you’re asking for is essential to accomplishing the organization’s core mission, and develop a means of showing a gift’s impact. Also, understand that some people may want to get personally involved in your organization as a way of answering this question on their own terms.
4. Will the experience be satisfying to me? “I don’t think of raising money as helping my institution,” said Stevenson. “I think of raising money as helping donors fulfill their philanthropic objectives. That’s very different from saying, ‘Won’t you help us accomplish our purpose?’” Saying thank you is important and involves “figuring out what the right stewardship is that isn’t generic and makes a donor very proud.” Finally, a relationship with a donor should be just as satisfying for the fundraiser and the institution. Gifts can be the beginning of an ongoing partnership.

If the answer to all of these questions is yes, it will be difficult for a donor to say no and turn down the opportunity to make a gift, said Stevenson, who also highlighted the rewards of philanthropy—namely, the satisfaction of “partnering with others to accomplish things that have a positive impact on the world around you now and in the future.”