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As the calendar year draws to another close, it’s time to begin finalizing your team’s year-end gifts while vigilantly keeping an eye toward accomplishing the remainder of your organization’s fiscal goals. This juncture presents a critical opportunity to evaluate your team’s performance from the first two quarters and lay the groundwork for ensuring a successful new year. There are many ways you can approach this challenge; however, in this article, we will focus on exploring strategies that will benefit your team for 2024 and the long term.
Initiate or Revisit the Strategic Plan
A critical resource for any thriving fundraising team is a well-crafted strategic plan. This document serves as your team’s guiding compass, ensuring a shared understanding of how each member contributes to achieving your collective goal. While an ideal strategic plan encompasses a multi-year strategy, you can always start with building plans for one year at a time.
At a minimum, ensure that your strategic plan includes key projects and objectives for the year. Whether initiating an emeriti giving program or bolstering your diversity, equity, and inclusion fundraising efforts, compile a comprehensive list detailing specifics about each project. Include a roster of key donor opportunities with associated ask amounts, projected close dates, and assigned solicitors who will manage each relationship.
Additionally, construct a timeline with anticipated milestones and provide expected outcomes at each stage. If your team travels, include their tentative schedules. Be as specific as possible with destinations, dates, and prospects in need of personal meetings. This document should be evaluated quarterly and shared with your team’s key internal stakeholders.
Enhance Your Team’s Expertise
As a leader, it is crucial to regularly assess and amplify the depth of your team’s knowledge. First, ensure that your team has a thorough understanding of your organization’s internal policies. Reviewing documents together, such as your gift acceptance policy, will ensure that everyone understands what is permissible to discuss with prospective donors. This knowledge will come in handy, for instance, when a donor expresses their intention to contribute through a donor-advised fund or their IRA account.
Additionally, frequently discuss your organization’s philanthropic priorities and opportunities. Ensure that your team is comfortable speaking about the importance of endowments and the minimum requirements necessary to start funds at various levels.
While in-house training is important, it is equally vital to develop a culture of continuous learning by encouraging your team to attend external professional development opportunities. Conferences and workshops are a necessary way for your team to learn from sector leaders and bring new knowledge back to your organization. Provide a platform for your team to present their findings and share feedback on how to incorporate their newly gained knowledge into the work of your team.
For those seeking ways to fortify their professional pedigree beyond conferences, consider promoting certifications such as the Certified Fund Raising Executive credential or Chartered Advisor in Philanthropy designation. These certifications are valued within the fundraising profession and provide credibility to your team and organization.
Strengthen Your Partnerships
Successful teams become stronger when they break down silos and establish mutually-beneficial relationships. Assess which academic partners your team needs to meet in order to develop internal bonds. Kassie Kissinger Cosgrove, CFRE, senior development officer at Loyola University New Orleans, recommends scheduling 30-minute coffee meetings with faculty and program directors each semester. She shares, “Understanding and appreciating their impactful work builds credibility for our development department, emphasizing our commitment to the university’s mission.” Having frequent discussions such as these will provide your team with social capital and informed responses when a donor asks, ‘What is most important right now?’.
Aside from meeting with academic leaders, it’s important to cross-train and partner with other philanthropy teams at your organization. Take the time to meet with your planned giving and principal gifts officers. Learn when it’s appropriate to partner and understand how you can provide symbiotic value to each other through consistent collaboration. It’s also important for you to develop a relationship with your annual giving office and understand how their strategic approach aligns with your work. You’ll be able to uncover whether there is an opportunity for you to highlight one of your gifts on #GivingTuesday or remain top of mind when it’s time to secure a donor testimonial.
Foster a Culture of Trust and Belonging
In the pursuit of ambitious goals, it is important to acknowledge and prioritize your most invaluable asset: your personnel. Steffanie Brown, director of prospect research and advancement services at Florida Institute of Technology, shares that when times get hectic, such as at year-end, it is imperative to reaffirm the intrinsic value of your team members. She shares, “It is important to understand who the individual team members are as humans, not just their role” and recommends starting meetings “…with “kudos awards” before getting into areas that need extra attention.”
Peeling back your work to a personal level will provide positive outcomes on the productivity of your team and remind everyone that you’re in this fight together.
Wrapping It All Up
December continues to remain the busiest month for philanthropy. Balance the intensity of this moment with a broader view of what your team needs to accomplish in the fiscal year’s remaining months. Now is the time for you to develop sustainable strategies, increase knowledge, strengthen relationships, and renew your commitment to providing a thriving culture for your team. By following these best practices, 2024 may be your team’s best year yet.
