Should you have a fundraising strategy? Why not!?
A fundraising strategy is one of several planning documents that can help an organisation to maximise their resources and achieve their charitable purposes.
It could be part of a wider business plan or a standalone document. As well as focusing fundraising activity, having a strategy could help an organisation to see how other departments/ teams/ colleagues can contribute to their fundraising, whether it be finance supporting the budget development or project officers identifying areas of need.
A fundraising strategy will be different from organisation to organisation. What is appropriate for a large charity with 400 staff would probably go into much more detail than is needed for an organisation run entirely by volunteers, but the principle is the same. A fundraising strategy will help any sized organisation to make the most of their fundraising activities and focusing on what benefits the organisation and their donors the most.
Regardless of the size of your organisation, you can base a new fundraising strategy around three questions:
- Where are we now?
- Where do we want to get to?
- How are we going to get there?
Tools such as SWOT and PESTLE can help an organisation assess where they are now. The organisations wider vision and mission can give direction to where they want to get to, then SMART objectives can be identified to plan how they are going to get there.
In the IoF Cymru Fundraising Health Check project, these questions form the basis of the fundraising strategy that our dedicated expert coaches will support Welsh charities to develop for their own organisation.
Registered charities with voluntary income under £50,000 and at least two members of staff (part- or full-time) can apply to the project. Successful applicants will receive four days of support from an experienced fundraising coach for their strategy development.
Contact Alison Pritchard, Project Coordinator, at: firstname.lastname@example.org or on 02920 340 062 for more information and an application pack.
Alternatively, for more ideas about how to develop your own fundraising strategy, you can watch the Institute of Fundraising’s Five Minute Fundraiser on Developing a Fundraising Strategy.
- Fundraising strategy