Funding Chamber and
Economic Development Programs

Is Your Organization Ready for New Fundraising?

• Do you have a strategic initiative in mind, or are you going for “maintenance” money?
  Most business and professional firms still prefer to fund “strategic initiatives” rather than supply general operating funds.
  
  
• Can you accept support spread over 4-5 years instead of all at once?
  Your ability to budget and forecast for several years demonstrates an ability to plan and manage that is attractive to the business community. Requests for up-front funding can imply poor management or lack of planning. Plus, a longer-term financial commitment will lead to longer-term interest and involvement from funders. A longer implementation period also increases your ability to show progress.
  
  
• Are you willing to encourage leaders outside your inner circle to take part in your planning process?
  Business and community leaders are more likely to put their funding behind projects in which they feel they have a stake. In other words, what they help write, they’ll help underwrite.
  
  
• Can you show how an investment in your program will have a positive return on investment (ROI) that will be attractive to business leaders?
  Although some outcomes may be hard to measure, there are few arguments as compelling as documented results. For example: If your program’s goal is to diversify your economic base, you might show how your present situation makes Then, show how your program will have a positive effect (or ROI) by increasing jobs in other areas that will increase incomes and add to the quality of life of the residents of the area.
  
  
• Can you demonstrate reliable oversight and accountability?
  If your organization’s board of directors does not have a reputation for smart management and direct accountability, it will be difficult to convince potential investors that their investment will be in good hands. It pays to spend time strengthening your board before embarking on a large fundraising campaign.
  
  
• Do you have the staffing needed to conduct a successful campaign?
  Do you have the community connections? If not, do you have the resources to engage professional counsel? Conducting a fundraising campaign is time consuming, specialized work, and sometimes requires expertise in areas uncommon to staff or boards. Identify areas where you’ll need help before you start.