The Power of Partnership: A United Approach to Fundraising
Chapter Leadership Brief 9.20.24
By Margaret Holman
President, Holman Consulting
In today’s competitive nonprofit landscape, organizations must be strategic and collaborative in their fundraising efforts. The partnership between the board, CEO and fundraising team is not just nice to have; it is essential for long-term success.
When these three entities work together as a unified front, the results can be transformative. This partnership allows your organization to leverage the unique strengths of each entity, creating a more comprehensive and effective strategy.
How do successful fundraising organizations achieve this? By establishing a collaborative and strategic partnership that includes the following three entities:
The Fundraising Team: The Architects of Philanthropic Success
A successful fundraising team understands that their role goes beyond simply asking for money. They are relationship builders, storytellers, and strategists who work to align donor interests with the organization’s needs. For the fundraising team to be effective, they need the full support and involvement of both the board and the CEO. This means regular communication, collaboration, and a shared commitment to the organization’s fundraising goals. The fundraising team can provide valuable insights into donor behavior and preferences, helping the board and CEO tailor their approaches to different donor segments.
In addition to their external-facing roles, effective fundraisers also play a key part in internal education and advocacy. They help board members and the CEO understand the nuances of fundraising , such as the importance of donor stewardship, the role of data and analytics in strategy development, and the need for a diversified fundraising portfolio.
The CEO: The Face and Voice of the Organization
The CEO is the face of the organization, embodying its values and vision. This role is crucial in fundraising, where trust and credibility are paramount. Donors want to know their contributions are being used effectively and that the organization is led by someone who is both enthusiastic and capable.
In fundraising, the CEO plays a multifaceted role. They are often involved in major gift solicitations, where their presence can signal the importance of a potential donation. But all CEOs are not comfortable in this role. They should work closely with the professional fundraiser to feel confident during the cultivation and solicitation of prospects. In my nearly 50 years of working with CEOs, I’ve found the most effective way to train a CEO in the art of fundraising, is to role play each meeting with a prospect. It’s the fundraiser’s job to arrange for a hesitant CEO to have a successful solicitation, as the more successes they have, the more willing they are to meet and make the ask with prospects and donors.
Another critical aspect of the CEO’s role in fundraising is setting the tone for the organization’s culture of philanthropy. The CEO must lead by example, demonstrating a commitment to fundraising and encouraging a collaborative approach across the organization. This includes working with the board and fundraising team to align efforts and ensure everyone is working towards the same goals.
The Role of the Board: Guardians of the Mission and Ambassadors of Fundraising
As we all know, the board should provide strategic oversight, ensure fiscal responsibility, and sets the tone for the organization’s culture. However, the board’s role doesn’t stop at governance; it extends deeply into the realm of fundraising.
Board members are uniquely positioned to be ambassadors for your organization. They often have extensive networks and can leverage their connections to open doors that might otherwise remain closed. Beyond introductions, board members can also play a crucial role in stewarding relationships with existing donors, ensuring they feel valued and engaged.
However, for board members to be effective in their fundraising role, they need to be fully committed and equipped with the right tools and knowledge. Not all board members will be suited for solicitations, but all board members should be involved with stewardship of donors by a willingness to simply handwrite thank you notes to donors. Those who have the skills and want to be part of the solicitation process, should be paired with the CEO or a member of the fundraising team. Needless to say, these board members should receive ongoing training and support to help them feel confident in their fundraising responsibilities.
Conclusion
A strong partnership between the board, CEO, and fundraisers fosters a culture of philanthropy that permeates the entire organization. When fundraising is seen as a shared responsibility, everyone – from staff to volunteers – becomes invested in the organization’s financial health and sustainability. This partnership is a powerful force that drives fundraising results, supports the organization’s mission, and ensures its sustainability for years to come.
Margaret M. Holman serves on the Board of Directors for the New York City Chapter of the Association of Fundraising Professionals. She is currently president of Holman Consulting founded in 1991 and was previously Senior Director of Development and Communications at the American Society for the Prevention of Cruelty to Animals (ASPCA). Margaret has also held fundraising leadership roles at the American Academy of Dramatic Arts, CARE, Barnard, and Eskaton Monterey Hospital.