Mastering Fund Development for Professional Associations
“In the United States, as soon as several inhabitants have taken an opinion or an idea they wish to promote in society, they seek each other out and unite together. . . . From that moment, they are no longer isolated, but have become a power seen from afar whose activities serve as an example and whose words are heeded.” — Alexis de Tocqueville, Democracy in America
In our world of professional associations, fund development is more than just a means to gather financial resources. It’s a long-term strategy focused on building meaningful relationships between an organization and individuals who are passionate about its mission. It’s about fostering a community of supporters who are invested in seeing the organization’s programs thrive. This strategy is not just about asking for money; it’s about nurturing connections and creating a shared vision for the future.
How Does Fund Development Work for a Professional Association?
Identify the Mission: Clearly define the association’s core mission and objectives. This serves as the foundation for all fundraising efforts.
Identify Members: Understand who your members are and what motivates them. This will help tailor your approach to align with their interests and values. Ask questions. Do our members understand the need for their support? Are potential supporters interested in improving their reputation in the profession, or do they want to make a difference in the organization and the community?
Identify Programs: Determine the programs and initiatives that are essential for achieving the mission. How can members and companies support objectives for conferences, professional education, or advocacy efforts?
Build Relationships: Engage with members and potential supporters to build trust and demonstrate the value of their support. Regular communication and personalized outreach are key.
Ask for Support: Once relationships are established, make a compelling case for financial support. Be clear about how their contributions will make a difference.
Show Appreciation: Always thank supporters and share stories about the impact their support has made. Recognizing their contributions fosters continued engagement and support.
A fundraising campaign is only as good as its plan. Before approaching any member or vendor for support, associations need a comprehensive plan to reach potential supporters.
Identify Fundraising Objectives: Consider whether the fundraising activities, such as sponsorships or campaigns, will engage members or feel like a beg for cash.
Assess the Competition: Understand which other organizations serve the same members or attract similar sponsors. Ensure your approach is distinctive and addresses a clear need.
Identify Market Trends: Stay informed about economic conditions and industry trends. Tailor your requests for support to fit current financial climates and member concerns.
Identify Potential Supporters: Regularly evaluate and update your list of sponsors, corporate supporters, and engaged individual members. Consider reaching out to companies and individuals who are closely aligned with your organization’s mission – even if they aren’t current members of the association.
Develop Strategies, Tactics, and Timelines: Set clear goals, such as raising $160,000 from corporate sponsors by April 1. Develop a plan outlining how you will achieve these goals, including specific tactics and timelines.
Evaluate the Campaign: Measure the success of your fundraising efforts using predefined metrics. Consider not only the total amount raised but also member feedback and overall satisfaction with the campaign.
By embracing a comprehensive and thoughtful approach to fund development, professional associations can harness the collective power of their members and supporters, creating a lasting impact on their programs and the broader community.
As de Tocqueville noted, when people unite with a common purpose, they become a powerful force whose actions and words are noticed and respected. Associations should channel that power into meaningful progress and sustained success for our organizations.
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