Fundraising is a year(s)-long effort! Let's set you up for success.
- Fernando Torres + Andreina Weichselbaumer -
As a for-impact venture based in Miami, whether you’re a 501(c) 3 or a social enterprise like us, you're likely familiar with Give Miami Day: the largest fundraising day in the county led by The Miami Foundation. Every week in November, Miami turns purple and the generosity is contagious, as fundraising organizations of all sizes see the result of their year-round efforts.
This giving day ignites the community in a collective effort to uplift and empower more than 1000 local organizations shaping our Miami. Here at Radical Partners, we are proud to have invested in these ventures and maximized their fundraising efforts for over 7 years, in collaboration with the community foundation and other funders committed to building capacity.
Through capacity-building activities and community-building gatherings, we have witnessed firsthand the transformative power of strategic fundraising and investing in relationships inside and outside the social impact ecosystem. Let us share a few lessons learned as you gear up into the second quarter of the year.
1. INVEST IN RELATIONSHIPS
Fundraising isn't just about asking for donations — it's about engaging supporters on a deeper level, building trust, and cultivating connections.
We've found that training organizational leaders in strategic communications helps build the skill of fostering transparency and accountability. A clear internal and external communications strategy keeps shareholders informed through various channels, including social media, email, and in-person engagements. Additionally, activating board members and stakeholders before the fundraising process officially begins can later lead to greater buy-in, collaboration, and generous support from the community.
What can you start doing now?
Stay in touch with your constituents all year long by making your organization top of mind for donors. You want to creatively foster relationships long before you make your ask in November.
Personalize the communication updates tailored to your audience’s interests. Make sure you highlight the aspect that is most meaningful to the specific person you are reaching out to.
Bring board members close to the mission! Host a lunch, a side-by-side work day, or a site visit so they can experience the impact that your organization generates. The more people align to and love the mission, the more engaged they will be during Give Miami Day!
2. TAILOR STRATEGIES FOR SUCCESS
A massive giving day like Give Miami Day looks different for organizations of varying sizes and capacities. Whether you're a small grassroots organization or a larger established organization, the key is to set realistic expectations and tailor your strategies based on your team’s capacity and size of network.
From setting fundraising goals to engaging donors, there's no one-size-fits-all approach to achieving your fundraising goal. However, by understanding your organization's unique strengths and challenges, you can develop a customized plan that maximizes your effort.
What can you start doing now?
Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify where your efforts are best allocated and guide you in building a clear plan.
Review your fundraising history and segment your donor base. Make sure you know who they are and why they care enough to donate. This will give you some ideas on what to focus on during your strategy for 2024.
3. SET CLEAR GOALS AND PLAN ACCORDINGLY
Setting a fundraising goal involves assessing past fundraising performance and budgetary needs, the organization's mission, programmatic goals, and donor relationships. Strike a balance between setting an ambitious goal that stretches your organization while also being realistic and achievable.
What can you start doing now?
Define a specific program or asset that your organization wants to finance and define how much that will cost. We’ve found that donors feel more inclined to give when they know specifically what will be done with those resources!
Set SMARTIE goals! SMARTIE stands for Strategic, Measurable, Ambitious, Realistic, Time-bound, Inclusive, and Equitable. By incorporating an equity and inclusion component to your SMART goals, you can make sure your organization’s commitment to racial equity and inclusion is anchored by tangible and actionable steps.
4. TAKE EARLY ACTION: SIGN UP FOR UPDATES
As Give Miami Day approaches, we encourage you to stay informed and tune in for support by signing up for The Miami Foundation’s Newsletter. By joining their mailing list, you'll receive timely updates and valuable resources to help you navigate the fundraising process with confidence among fellow impact-driven leaders.
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Remember, fundraising success is not just about what happens on the day of the event—it's about the groundwork you lay in the months leading up to it and how you manage those relationships afterwards. So, let's start now and set ourselves up for success on Give Miami Day and beyond. Together, we can make a meaningful difference in our community.