Likewise, your organization’s philanthropic portfolio should be diverse. Foundations and corporations might be able to provide generous grants, but they are also highly sensitive to economic conditions. Special events great for a quick boost to your contributions, but are hard to rely on for a long-term base. Individuals and their estate plans are wonderful for long term equity building.
By not becoming over-reliant on any one contribution source, your organization can survive the ebbs and flows of our economy. This is critically important, because many nonprofit organizations have been asking lately, “Will donors still give during an economic downturn?” Historically, yes!
According to Giving USA, people in the United States gave $306 billion in 2007 to charitable causes. While we may not see enormous, record-setting gifts this year, we will probably see more people getting involved. Often people think, “If I’m having a tough time, others must be too.” The contributions may not be as large, but there will be more of them!
So if your organization has a solid, diverse base of support, you too can weather the economic storm. And, you can continue to do great things for your community!
This Tip is excerpted from “Fundraising Boot Camp: Diversifying Your Donor Base,” soon to be presented in Yuma, Arizona and Las Vegas, Nevada. For more information on this workshop, contact GoalBusters or check our Workshops and Presentations page.
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