The Perfect Time to Raise Money

We are often asked. “Is there a ‘best time’ to raise funds?” During uncertain economic times, most non-profit organizations are especially concerned about the timing for any new fundraising effort. It may be surprising to learn that turbulent economic conditions may be the most favorable time to launch aggressive new initiatives that require new dollars.

The timing issues that we hear expressed most frequently from clients include:

• Local economy/national economy
• Fluctuating stock market
• Competing campaign(s)
• Seasonal or summer/winter vacations

In short, external factors beyond anyone’s control. It would be a rare community that did not have one or more of these factors present most of the time. So, how do you ever get a “green light” for your fundraising initiative? When is the timing really right? The answer is: When the following critical elements are in place:

	An urgent need or opportunity is clearly identified and explained. A plan of action to address the need is devised. The right leadership is in agreement about the need and the plan. The organization is committed to delivering measurable results

Note that all these elements are internal, not external, to the organization. If these elements are not in alignment, even flush economic times will not assure a successful campaign. Of course, these steps alone won’t cause the cash to flow, but it will be impossible to even assess the feasibility of fundraising without their being addressed.

Is the issue or need clearly identified and articulated?
Even in good times, no one wants to expend effort to give money to causes that are not critical or urgently needed. So, job #1 is to Identify and document the problems or opportunities that your organization must address. Citing statistics and empirical data, along with the “human interest” side of the issue, is an excellent way to define the nature and scope of the situation. Add a sense of urgency and explain why your group must take action — now! This critical first step will help galvanize the issue and get your leaders “in on it and up on it.”

Is the plan ready?
Without a defensible plan, the time will never be right to raise money. Develop general plans, programs, timetables and budgets that deal with the documented problems/needs. Even broad strategies and estimated financial needs are acceptable at this stage. Sooner than later, everyone will want to know the preliminary cost of implementing the plan, so be bold. A feasibility analysis later on will reveal how much can actually be raised, but at this stage, think big. Put a plan together that will get the job done, not a timid, anemic program that fails to inspire anyone about results that could be achieved with proper funding.

Are the right leaders in place?
It’s a strange phenomenon, but campaigns in the worst of times, even for perceived weak causes, often exceed goal. The reason? Leadership. Those with the influence and stature to draw others to their cause can raise money at any time. Of course, they must lead the way with their own significant dollars and the must strongly believe in the cause, the plan and the budget. A major step is to get the best community leaders familiar with the cause, gain their buy in, and ask their help in testing the waters for the organization’s new initiative.

Can measurable results be achieved?
Organizations that are most willing to be measured on what they plan to achieve will have the best chance to reach goal. Regardless of timing issues. Donors, especially corporations, are insistent that funds be used for measurable results by a fully accountable organization. That time has passed when a non-profit’s proud history would assure continuation of funding. Prove to potential donors that you are setting measurable goals and that results will be reported to those providing funds.

Avoid the “paralysis of analysis”
Delaying a decision, waiting, then waiting some more for the perfect time to raise funds can be a fatal decision (or non-decision) . You are likely to find more determined or aggressive organizations moving to secure scarce community dollars. The perfect time for fundraising is when the need is urgent, the right leaders take up the challenge, and the organization pledges to roll up its sleeves and get a major civic chore accomplished. As one volunteer campaign chair put it at a recent NCDS campaign kickoff, “If not us, who? If not now, when? The time is now and it is time for us to get to work and raise this money!”