3 kinds of fundraising goals
The tragedy in life doesn’t lie in not reaching your goal.
The tragedy lies in having no goal to reach.
–Benjamin Mays
Goal setting is a critical element of fundraising. Goals provide a clear roadmap for your Development work and create benchmarks for success. Many kinds of fundraising goals exist, and Development shops use any combination of them.
Here are three key types of fundraising goals. Try incorporating these into your fundraising plans and activities!
1. REVENUE
It's easy to understand the importance of setting a monetary fundraising goal. Among other things, it clarifies how much your fundraising staff needs to raise in a given year, provides a common target around which to rally and work, and allows your organization to estimate in its operating budget what percentage of revenue will likely come from Development's efforts. Ideally, your nonprofit will be able to aim for--and raise--incrementally greater amounts of charitable dollars year after year.
2. "MOVES” OR “TOUCHES”
Consistent, meaningful communication with prospective major gifts donors often correlates with fundraising success. You'll likely bring these individuals closer to your organization--and a big gift--through strategic, personalized "moves" or "touches," such as
in-person or virtual conversations (topics could include getting to know the prospect, asking for advice, or discussing the nonprofit's current activities)
letters describing upcoming programs of interest to the individual
organizing a private tour of your facilities
arranging meetings with your nonprofit's leadership
emails offering updates from your nonprofit about areas that the donor is particularly interested in
volunteer opportunities
3. NUMBER OF DONORS
Keeping existing donors is critical, but so is finding new ones! Through prospect research, tapping your board for connections, social media, mail appeals, donor cultivation, events, grant proposals, and more, your nonprofit should continually fill its pipeline with new prospects that align closely with your organization's mission. You could aim to increase the number of donors to one area of your organization (e.g., double the number of unrestricted funders) or overall (e.g., increase the number of donors to your nonprofit by 10 percent).
In closing, remember: The most important action is to set goals. You may blow them out of the water or you may fall short, but setting a baseline this year will give you valuable data for next year. Consider goals as flexible targets that be updated based on actual results. Ready, aim, fire!