The rollercoaster ride that nonprofits have experienced since the beginning of the ‘great recession’ has been anything but fun!
Although the great recession began in 2007 according to the National Bureau of Economic Statics, the reality of its effects on nonprofits really hit home the day the venerable brokerage firm Lehman Brothers filed for bankruptcy in September ’08. Pretty soon nonprofit leaders and staff came to realize that how nonprofits managed their fundraising would be changed forever.
The Nonprofit Finance Fund provides financing, funding and advocacy services to nonprofits and funders nationwide. For the researchers among us, they are a fount of data. Their “Guide to Navigating Changing Times” provides answers and resources to help weather these difficult times.
An October 11 blog posting from David King, president Alexander Haas highlights “10 Lessons Learned from the Great Recession.”
- Relationships matter more than causes
- Serving on a board in not an honor, it is a real job with real responsibilities
- If you stop fund raising, you will stop raising funds
- Endowment is not an insurance policy against declines in earned and donated revenue
- Take donors for granted and they will take their donations elsewhere
- Financial acumen is, in fact, a requirement for nonprofit executives
- Your next campaign does not “have” to be larger than you last campaign
- We have a new definition for what we “need”
- The donor pyramid has been pinched in the middle (think hour glass)
- Fear of multi-year pledging has reshaped how capital campaigns are executed.
I have always been committed to a fundraising board. Last year I was asked to do a presentation on the “Role of the Board & Successful Fundraising Techniques.”
This presentation is a Call to Action for nonprofit boards to encourage ownership and enthusiasm for fundraising.
You are welcome to share with your nonprofit’s board of directors. I’d love to hear from you to learn of their response.
I know this is an extremely busy time for fundraising. We at Creative Solutions & Innovations wish you the very best in your quest.