Following four key provisos will spell success for fundraising initiatives:
1) Beware of “mission drift,” or chasing available money as opposed to that which matches your mission.
2) Do your homework when seeking funding: You’ll get turned away if there’s a mismatch between your group’s mission and the funders’ giving priorities.
3) Don’t underestimate the importance of individual donors; they are a must for a diverse funding base. Giving USA has found that 75% of nonprofits’ private donations are from individuals (plus 7% from bequests).
4) Don’t forget that successful fundraising hinges on strong relationships that demand cultivation, management, and good stewardship.