Are You Ready to Get That Money, Honey?

Quiz Questions

• 1.
  Who makes up your board?

  • A.
    Haven’t gotten around to forming one yet
  • B.
    Friends, family, and well-wishers
  • C.
    An eclectic mix with the occasional outsider
  • D.
    Diverse professionals with the right expertise
• 2.
  What’s the primary focus of your board?

  • A.
    Huh?
  • B.
    Operations and crisis management
  • C.
    Strategic planning with a dash of micromanaging
  • D.
    Long-term sustainability and policy oversight
• 3.
  How involved is your board in fundraising?

  • A.
    What board?
  • B.
    Think that it’s someone else’s job.
  • C.
    Helpful(ish) but no overall plan
  • D.
    Clear expectations and reliable revenue year over year
• 4.
  What’s your organizational budget size?

  • A.
    0-250K
  • B.
    250-500K
  • C.
    500k-$1M
  • D.
    $1M+
• 5.
  How diversified are your funding sources?

  • A.
    Uncle Joe’s lottery winnings
  • B.
    Mainly one or two grants
  • C.
    A mix of grants, donations, and perhaps a bake sale or two
  • D.
    A healthy portfolio of grants, individual donors, and planned giving
• 6.
  What’s your fundraising strategy?

  • A.
    A strategy would be nice, wouldn’t it?
  • B.
    Hoping and praying
  • C.
    Some events and campaigns, could use more structure
  • D.
    Well-planned annual campaign with multiple channels
• 7.
  Do you have a strategic plan?

  • A.
    We’re flying by the seat of our pants
  • B.
    It’s a work in progress, but we’re getting there
  • C.
    Yes, but it needs refining and better execution
  • D.
    Absolutely, and it’s aligned with our mission and vision
• 8.
  What is the size of your current email list?

  • A.
    What email list?
  • B.
    A modest list, but it’s growing
  • C.
    A decent size, but engagement could be better
  • D.
    Large and engaged – it’s a key asset for us
• 9.
  How often are you communicating with your email list?

  • A.
    We send out an SOS when we’re desperate
  • B.
    Quarterly updates, unless there’s an urgent need
  • C.
    Monthly newsletters with the occasional fundraising appeal
  • D.
    Regularly, with a mix of updates, asks, and engagement opportunities
• 10.
  What’s your online presence like?

  • A.
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    Does a Facebook page we never update count?
  • B.
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    We have a website, but it’s not optimized for fundraising
  • C.
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    Active on social media, but we could be more strategic
  • D.
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    Strong and integrated with our fundraising efforts

Quiz Outcomes

• 1.
  Starting Line

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  You've got a big vision, but we gotta walk before we can run. Here are your current challenges before you can Get That Money, Honey...Funding ChallengesLack of Initial Capital: Difficulty securing seed funding to get started.Sustainable Revenue Streams: In the early stages of establishing funding sources, often relying heavily on initial donors and grants.Grant Writing: Often inexperienced in writing successful grant proposals.Donor Acquisition: High cost and effort required to attract new donors, starting from scratch.Resource ConstraintsLimited Staff: Often reliant on a small core team or volunteers, leading to overwork and burnout.Insufficient Infrastructure: Building from the ground up, lacking necessary tools and technology.Capacity Building: Difficulty investing in staff training and professional development from the onset.Awareness and VisibilityBrand Recognition: Virtually unknown, working hard to build a recognizable brand and gain public trust.Marketing and Outreach: Limited budget and expertise for initial marketing campaigns.Community Engagement: Beginning stages of building relationships with the community and stakeholders.Strategic PlanningVision and Mission Clarity: Difficulty in defining a clear and compelling vision and mission.Long-term Planning: Challenges in developing and executing long-term strategic plans.Board Development: Building a skilled and engaged board of directors that contributes to strategic planning.Leadership and GovernanceLeadership Skills: Leaders often come from program backgrounds, developing management skills or led by the passionate founder.Governance Structure: Establishing governance structures and processes.Your Action Plan:Recruit Board Members: Find those fired-up individuals ready to jump on board. You need passion; experience can come later!Concept Plan: Get your brilliant ideas out of your head and into a plan. Dream big, aim high.Initial Fundraising: Hunt down those initial dollars. Bake sales, lemonade stands—whatever it takes to get the ball rolling.Basic Marketing Plan: Plan out how you're gonna shout your mission from the rooftops. Social media is your new best friend.Founding Meeting: Get your crew together for a meeting of the minds . Align on goals, swap stories, and maybe have a dance-off.Promotional Materials: Whip up some eye-catching flyers, a snazzy landing page, and start hitting those social networks.Community Engagement: Get talking! Spread the word in your community and stir up some excitement.Initial Fundraiser: Throw a launch party or a small event. Time to show the world what you’ve got.
• 2.
  Warming Up

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  You're on the track and just starting to warm up.These are likely your current challenges in standing in your way of getting that money, honey!Funding ChallengesLack of Initial Capital: May have some initial funding but struggle to scale up.Sustainable Revenue Streams: Ongoing challenge to maintain and diversify funding sources.Grant Writing: Limited experience but may have some track record of grant success.Donor Acquisition: Existing but small donor base, requiring continuous efforts to expand.Resource ConstraintsLimited Staff: Small team, possibly with part-time or volunteer staff, leading to stretched resources.Insufficient Infrastructure: Some basic infrastructure in place but limited in scope and functionality.Capacity Building: Struggling to allocate funds for professional development amidst operational demands.Awareness and VisibilityBrand Recognition: Some recognition within a small community but struggling to expand beyond that.Marketing and Outreach: Modest budget for ongoing marketing efforts, often limited in scope.Community Engagement: Existing community relationships but needing to deepen and expand them.Strategic PlanningVision and Mission Clarity: Clear vision and mission but may need periodic reassessment.Long-term Planning: Implementing and refining long-term plans with limited resources.Board Development: Maintaining and developing an engaged board, potentially with some turnover.Leadership and GovernanceLeadership Skills: Leaders with some experience, continually developing management skills.Governance Structure: Existing governance structure, needing periodic improvements.Your Action Plan:Governance Structure: Formalize your board. No more roundtable chats—time for structured meetings. This INCLUDES a formal give/get policy.Strategic Vision: Map out your master plan. Your nonprofit is going places, darling.Fundraising Tactics: Develop targeted fundraising strategies. No more throwing darts in the dark.Marketing Plan: Launch that marketing campaign. Make it loud, proud, and professional.Regular Board Meetings: Schedule regular meetings—less coffee klatsch, more action plans.Upgrade Marketing Materials: Step up your game with a polished website and branded materials. Use ChatGPT to define your brand.Funding Diversity: Stop depending on one sugar daddy. Seek a mix of grants, donations, and in-kind glory.Board Training: Educate your board. Governance isn’t a spectator sport.Community Events: Host outreach events. Get that community rallying behind you.
• 3.
  Hitting Your Stride

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  You're out of the gate and starting to hit your stride. You're largely out of survival mode (though one a bad quarter or two could really tank you), and you're starting to think about long term sustainability.Tell me if this sounds familiar...Funding ChallengesSustainable Revenue Streams: Struggling to maintain and diversify funding sources, relying on a few major donors or grants.Grant Writing: Limited resources for professional grant writing and often competing for the same grants as larger organizations.Donor Acquisition and Retention: High cost and effort required to attract new donors and retain existing ones.Resource ConstraintsLimited Staff: Small team often wearing multiple hats, leading to overwork and burnout.Insufficient Infrastructure: Basic tools and technology in place but lacking the advanced infrastructure needed for growth.Capacity Building: Difficulty in investing in staff training and professional development due to budget constraints.Awareness and VisibilityBrand Recognition: Moderate recognition but struggling to build a stronger, more recognizable brand.Marketing and Outreach: Limited budget for comprehensive marketing campaigns, relying on word-of-mouth and low-cost strategies.Community Engagement: Existing community relationships but needing to deepen and expand engagement efforts.Operational IssuesAdministrative Burden: Significant time spent on administrative tasks, taking away from mission-focused work.Regulatory Compliance: Navigating complex legal and regulatory requirements with limited resources.Efficiency: Basic processes in place but needing optimization to handle growth efficiently.Strategic PlanningVision and Mission Clarity: Clear vision and mission but needing refinement to align with growth objectives.Long-term Planning: Developing and executing long-term strategic plans with limited resources.Board Development: Building and maintaining a skilled and engaged board of directors that contributes to strategic planning and fundraising.Leadership and GovernanceLeadership Skills: Leaders often come from program backgrounds and may lack experience in nonprofit management, requiring continuous development.Governance Structure: Developing an effective governance structure and processes to support growth.Your Action Plan:Expand the Board: Pull in the big guns. Recruit diverse, skilled professionals to mix things up.Fundraising Efforts: Roll out sophisticated strategies. You’re not playing around anymore.Marketing Plan: Your marketing game should be as strong as your morning coffee.Strategic Board Meetings: Time to track that progress and keep everyone aligned.Online Presence: Make sure your website doesn't look like it's from the GeoCities era—upgrade!Advanced Fundraising: Get creative with crowdfunding, peer-to-peer campaigns, and recurring donations.Board Development: Regularly train your powerhouse board.Community Relations: Network like a Kardashian at the Met Gala.Impact Monitoring: Evaluate your programs regularly and show the world you mean business.Long-Term Financial Planning: Keep those coffers steady with multi-year budgets and reliable reserves.
• 4.
  Cruising

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  Great job getting here, my friend! Now, you're likely dealing with "champagne" problems like getting a major gift program up and running and diversifying your revenue.Here are some of your likely obstacles on your next step:Funding DiversificationOver-Reliance on a Grant Funding: Heavy reliance on one or two revenue sources, leading to unpredictable revenue streams and restricted funding.Sustainable Revenue Streams: The need to diversify funding sources to ensure financial stability and growth.Donor Acquisition and RetentionIdentifying Major Donor Prospects: Difficulty in identifying and cultivating potential major donors within their existing donor base and beyond.Donor Engagement: Challenges in developing deep, meaningful relationships with major donors to ensure long-term engagement and commitment.Retention: Retaining major donors requires a different strategy and more personalized attention than retaining smaller donors.Resource ConstraintsDedicated Staff: Lack of experienced staff dedicated to major gift fundraising and stewardship.Training and Professional Development: Need for specialized training in major gift solicitation and relationship management for current fundraising staff.Infrastructure and SystemsData Management: Inadequate CRM systems for tracking donor information, interactions, and contributions at the level required for major gift programs.Research Tools: Limited access to tools and resources for wealth screening and prospect research.Strategic Planning and ExecutionLong-Term Strategy: Need for a well-defined long-term strategy for major gift fundraising that aligns with the organization’s overall mission and goals.Campaign Planning: Challenges in planning and executing major gift campaigns, including setting realistic goals, timelines, and benchmarks.Board and Leadership EngagementBoard Involvement: Difficulty in engaging the board of directors in major gift fundraising efforts and leveraging their networks.Leadership Buy-In: Ensuring that the organization’s leadership fully supports and understands the importance of investing in a major gift program.Relationship BuildingPersonalization: Need for highly personalized approaches to donor cultivation and stewardship, which can be resource-intensive.Stewardship: Developing and maintaining effective stewardship practices to show major donors the impact of their contributions.Brand and Mission AlignmentCompelling Case for Support: Creating a compelling and urgent case for support that resonates with major donors.Mission Communication: Effectively communicating how major gifts can significantly advance the nonprofit’s mission and impact.Market CompetitionDonor Competition: Competing with other nonprofits for the same pool of major donors.Differentiation: Differentiating the organization’s unique value proposition and impact to stand out in a crowded philanthropic landscape.Internal Culture and Buy-InStaff Resistance: Overcoming resistance from staff who may be accustomed to other types of fundraising.Cultural Shift: Shifting organizational culture to prioritize major gifts as a crucial revenue stream.Capacity BuildingScalability: Ensuring the organization has the capacity to scale its programs and operations to effectively utilize major gifts.Sustainability: Building a sustainable major gift program that can be maintained over the long term without overburdening staff or resources.Your Action Plan:Strategic Plan Review: Keep that plan tip-top and updated. Set sail with a clear direction.High-End Fundraising: Pull out the big guns—major gifts, corporate sponsorships, planned giving. Think big!Marketing Strategy: Your marketing should be Hollywood-level professional.Continuous Board Development: Train, recruit, and train some more. Keep it fresh.Brand Strengthening: Make sure your brand is strong enough to survive a zombie apocalypse.Financial Management: Keep a diversified funding stream and an emergency fund that’ll make Scrooge McDuck jealous.Community Leadership: Be the nonprofit rock star in your community.Data-Driven Decisions: Use data to drive your strategies. Numbers don’t lie.Succession Planning: Ensure there’s a backup for every top role. No more playing Russian roulette with leadership.