This week, we discuss 3 easy ways to fundraise as a nonprofit board member. Fundraising as a nonprofit board member can be a contentious topic. Most people do not join a nonprofit board to fundraise. However, it is your responsibility as a board member to ensure the financial stability of your organization.

Fundraising as a board member does not mean you have to ask for money! Many people are uncomfortable making an ask. However, you should be making connections to your CEO/Development Director, participating in events, and making a personal financial contribution.

Remember, the organization in which you serve as a board member should be your primary philanthropic focus.

Timestamps:

00:00 Fundraising as a nonprofit board member – You do not have to make the ask

01:45 Make connections for your CEO/Development Director

02:37 Participate in events

03:10 Make a personal financial contribution

Transcript:

On this week’s episode of i501c You the podcast for nonprofit board members. I am speaking specifically to you board members out there. And first of all, thank you for your service. Really volunteering and serving on a nonprofit board is admirable and it does make a difference in our community and your community. So thank you for doing that because it is a time commitment and a personal commitment in order to to serve.

But I’ve done a number of retreats lately, and this topic always comes up, always comes up. And that’s the role of the board in fundraising. We’ve discussed this a little bit in the past, but I want to talk a little bit more about it because it just seems to be an ongoing issue. I don’t want to raise money.

That is not why I got on the board. Fair statement. But it is your obligation to ensure the financial stability of the organization. One way to do that is through fundraising. Although I will tell you, it doesn’t mean you have to ask for the money. And that’s the beauty of being a board member. That’s the executive directors job, or it’s the job of the vice president of Advancement or Development or whatever the the title is in that and your specific organization.

But there are ways that you can help as a board member and there are some roles and responsibilities.

Hey, I want to jump in real quick. Somebody asked me the other day, what does the CORLEY Company do? Well, we do three things for non-profits. One, we facilitate meetings. Yes, like board retreats where we discuss governance and strategy with all the members of the board. Number two, advise CEOs and help them as they make decisions and implement actions to drive their mission.

And then finally, we produce podcasts such as this one, but also for a number of nonprofits to help you get the word out, get your message out. So if you’re interested in any of these services, please feel free to reach out to Michael@thecorleycompany.com. Now back to the podcast.

Number one, connect, connect your CEO, your executive director to your friends, or maybe I should say connect your friends to the organization, ultimately to the CEO, to organizations you may do business with. Make those connections, those introductions. And let the CEO let the head of philanthropy or excuse me, of development speak to those people and engage in a discussion about raising money.

You do not necessarily have to do that. Or you can make dinner introductions to your financial planner who makes recommendations to people on how they should make tax deductible gifts. So there are ways you can do connections outside the norm, outside of what you would normally think that can benefit the organization. If you have questions on how you can do that, ask your CEO executive director what he or she would like you to do.

Number two, participate, participate in events and that your organization may have where that badge with pride. Let everybody know that you’re a board member. That kind of leads to number one, more people, you know, the more connections you have, the more opportunity you have to connect people to the organization. But also, as you’re at events, people will ask you about the organization, and that is a prime opportunity to share what you do with the opportunities are and how that individual might be able to support the good that you’re doing in the changes that you’re making in the community.

And then finally, number three, make a financial contribution. If you are on the board of directors of a nonprofit, you should make a personal financial contribution. I tell you, I love having this discussion and board retreats because there’s always somebody that says, Why should I have to do that? I donate my time. Yes, Yes, you do. But as a board member, as a board member, there’s an extra level of responsibility and obligation.

That’s why you chose to serve. And if you’re going to be connecting people to the organization for fundraising purposes, if you are responsible for ensuring the financial viability of the organization and you are you should make a personal financial contribution, which would be in addition to any corporate contribution. Your company, an organization you’re associated with, may make. Why is that important?

Well, for the reasons I just stated. But also a lot of funders will ask, Do all of your board member members make a financial contribution? And they will ask that in the grant application. They’ll ask, Do you make a personal financial contribution? And don’t put your CEO, your executive director, in that position of having to lie and say, Well, yes, they all do.

When Michael CORLEY did it through his company, well, Michael Corley should make a personal financial contribution. How much that’s really up to you, your organization. Some organizations stipulate a certain amount. You should know that before you become a board member. But most say a meaningful figure. If you’re serving on the board, this should be your number one funding obligation, in my opinion.

That’s why I encourage people not to serve on really more than one board, maybe two max, because it should be your primary focus in philanthropy as that board that you serve on. So there you go. As a board member, really, it’s not that difficult. It’s one make connections. You know, people just talk about the organization and feel free to introduce them to the to the CEO or to the the head of development.

Number two, participate in events. Be visible. Wear that badge with pride. People are going to talk to you. You’re going to be able to redirect them back to the CEO, head of development, and then finally make a financial contribution yourself. Every year, whatever is meaningful to you, just make a personal financial contribution so that your CEO, your executive director, can mark off when they get the grant request.

The grant application says, Yes, all of my board members do make a financial contribution. So there you have it. This is Michael Corley and this week’s episode, the i501c you the podcast for nonprofit board members and we’ll see you next week.

Join us every week as we release a new podcast with information about how you can be the best board member and provide great service to your organization.

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