After spending so much time working in fundraising, I’ve learned to tie the job to the seasons. Christmas lights going up in the neighborhood? Time to send out the year-end appeal. Fireworks for the 4th of July? Time to get serious about planning that big fall fundraising event.
The summer heat is stubborn this year, but we’ve had our first few moments of crisp fall air here in the Midwest. That means it’s almost time to dive into year-end giving - and with it, assessing how we did hitting our goals last year and setting ourselves up for next year.
This is a crucial exercise that can have ripple effects throughout your organization.
A good fundraising goal sets fundraisers up for success while giving programs the confidence they’ll have the resources in place to do their jobs effectively.
At the same time, a poorly set goal can quickly burn out fundraisers, leave the organization in flux, and create resentment at all levels of the organization.
Now is the time to start thinking about goals - and preparing to enter the new year with a target that energizes your organization.
It’s why I like to think about goal setting as both an art and a science. It needs to reflect the best aspirations of your organization while being grounded squarely in data.
The art of goal-setting
Before you start putting numbers on paper, you should assess where your organization stands and where it needs to go. Are you on track to hit your goals for the current year? Are there big new opportunities on the horizon in the year to come? Does your organization hope to pursue major strategic initiatives in the new year?
Begin engaging stakeholders, including Board members and program staff, to understand what they would like to see happen in the next year. Instead of setting arbitrary goals, think about what needs to happen over the next year and work backward.
This process gives everyone involved the chance to be heard and shape the organization’s approach to creating revenue. Instead of a one-sided process, this makes it an organization-wide effort that helps everyone achieve their goals.
The science of goal-setting
Once you establish what needs to happen and how the organization wants to approach the new year, it’s time to answer a few questions:
How much money do you need to implement your core programs?
How much money do you need to accomplish any major new goals?
How much did you raise (or do you project to raise) in the previous year?
Do you have any major funding sources set to expire?
Do you have any new funding sources that you anticipate developing over the course of the next year?
How you answer these questions - and weigh these different priorities - should make your new fundraising goal come into focus.
Too often, organizations set arbitrary fundraising goals that either leave opportunities on the table or set unrealistic expectations. Just saying, for instance, that you’ll raise 20% more money than the previous year leaves out the nuances of multi-year funding, new initiatives, and feedback from donors and stakeholders. If that target is unattainable, then it can become a burden to the organization rather than something that motivates people at all levels to push the organization to new heights.
Goals are a driving force behind successful fundraising efforts - and they should be treated with a high level of care and consideration. As you prepare to set your goals for the next year, Team Kat & Mouse is here to help. Reach out today to set up a free consultation so we can help you optimize your goals for fundraising success!
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