Board members and fundraising
How can board members support the financial sustainability of the organization?
- Become donors. Giving money, in addition to time is a great way to help the organization meet its fundraising goals.
- Write grants. Board members skilled in this area who have an excellent sense of the day to day working of an organization can help with grant and report writing.
- Raise money. Have a dinner party and invite people to donate over coffee and dessert. In a band? Put on a benefit show!
- Approve a resolution. At a very minimum, board members will be called upon to approve of the idea of asking for money. Resolutions are usually sent to potential funders along with grant applications.
What makes fundraising a perfect task for the board of directors?
- Successful fundraising requires a solid understanding of the organization as a whole. Engaged board members know about the organization, its mandate, goals and objectives and can speak about them with passion!
- Fundraising is about relationship building. Fundraising gives board members an opportunity to connect with friends, family, colleagues and other networks about the organization, helping build the organizations membership base, or more importantly in this case – its donor base.
- It can be very satisfying teamwork! Giving the board a task to own as a team gives them a reason to get to know one another through important fundraising work. Every dollar earned brings a sense of accomplishment and satisfaction for the board, and the organization as a whole.
- Fundraising is essential to sustainable financial planning. Financial oversight is one responsibility of the board. While most boards delegate financial management to the staff, raising money is a perfect way to participate in the financial growth and sustainability of the organization.
- Fundraising requires a cultural shift; the whole organization must be involved. Investment in fundraising from the board of directors sets a good example.
- Fundraising provides opportunities for staff and board collaboration and ongoing learning.
- Raising money and communication planning are linked. How we talk about our work, our documentation and website are all tools for fundraising. Staff and board can work together to develop and share a cohesive message.
Do we need to be a Charity to Fundraise?
Charitable status and fundraising Boards can fundraise whether or not the organization has charitable status. However, only organizations that been approved by the Canada Revenue Agency will have a charitable number and the ability to provide charitable tax receipts to their donors.