Members

Tips for weathering the economic storm

Michelle Perl April 15, 2009

< 1 min read

Be pro-active. Stay in touch with key donors and prospective donors – now is a time to reach out, not retreat.

Be alert. Understand that some individuals are being impacted significantly by current conditions, both negatively and positively, and others are not – adjust conversations and requests accordingly.

Be discriminating. Sharpen the case for philanthropic support and focus on institutional priorities that are central to advancing the mission of your organisation and that are viewed by donors as essential priorities.

Be flexible. For some individuals, long term commitments will be unrealistic, but gift decisions one year at a time will be possible – for others, there will be little or no change in how they consider major requests.

Be resolute. Seeing the institution through the eyes of the prospective donor often provides the insights and the sensitivities required to move relationships and gift requests forward.

Be knowledgeable. Focus on what is at stake, or at risk, for the institution that is central to its mission and its aspirations – discuss serious issues confronting the institution and avoid ‘fundraising talk’ that diminishes the importance of the visit and request.

Be patient. Most philanthropic initiatives have a longer life span than the ups and downs of most economic cycles.