I recently had a conversation with a staff member of a ‘not for profit’ organization here on Vancouver Island. She is in charge of fundraising for her organization and she was expressing to me the obvious challenges they’re facing trying to raise desperately needed funds for the organization.
The conversation eventually turned to how important it is for the board to understand the competitiveness of fundraising in the current environment and what boards can do to help their organizations succeed in this difficult climate.
In order for organizations to attract the quality of funder, and in turn, the quantity of funding, boards are going to have to “up their game”.
In our conversation we agreed that boards need to ensure the following things are in place and that this can be illustrated to potential donors, funders and outside agencies when asked.
The 5 key things that boards need to have in place right now,
- A clear and well understood mission (purpose) and vision (success) for the organization.
- A “best practices” based board governance model.
- A compelling and straight forward strategic plan.
- An appropriate board member recruiting and succession plan.
- A risk management mindset.
Unfortunately, the current environment of uncertainty and instability will be a challenge for many ‘not for profits’ to survive. The board of directors can significantly improve the chances for the organization they serve by ensuring that these five things are in place. Their future will depend on it.