Managing Generosity Better
Is there a better way to manage generosity? You bet! Generosity is a two-way street. The act of giving blends (or should) with the act of getting when you manage generosity properly. Today’s philanthropic efforts have far more tools to work with than ever before, but we still tend to judge philanthropic success or failure by old, now often antiquated, standards of operating our nonprofits and charitable ventures.
Too many give to, but do not invest in, their charitable initiatives of choice. Too many look for the quick cash gift at the expense of the more rewarding long-term performing gift because it requires more time and more skill than a foundation or charity might currently have at their disposal. It seems that many are happy to settle for less, even though it might cost more.
The advent of social media, web based protocols, learning apps, and third party providers have evolutionized the nonprofit and charitable communities in ways that are under appreciated, and for some organizations, unachievable, only because they do not try to do more with less. Nonetheless, as a result of access to this more affordable technology and broader skill sets, there is now a better way to manage generosity and managing that generosity is setting new standards for operating that show great promise for the philanthropic community.
When you see the list of what makes you a better manager of generosity, you would think that these recommendations would be common sense. Unfortunately, too often it is the case where these principles are still frequently ignored rather than practiced. If you want to be a better steward of getting and giving, consider adopting these elements when working your own philanthropic investments. Your returns on effort could be game-changing:
Reduce costs of fundraising to 10% or less using enterprise excellence processes that help a charity and a granting foundation operate more efficiently. Treat your charitable venture like a regular business. Your tax status is the only difference you have with other well-run organizations that have to compete for and retain their client base each day, each week, each month, each year. By expanding your prospect pool to include principal gifts, for example, which granted require more knowledge and skill than traditional fundraising often demands, you can greatly reduce cost-to-raise-a-dollar ratios to more reasonable return levels. The lower your direct non-program expenses are, the more a donor will be inclined to support you. Efficiency generates effectiveness.
Raise your impact by fully engaging in every aspect of achieving your philanthropic mission. Look to help as many as you can with as little as it will cost. Serve target markets that are at risk of being ignored because they are a little harder to reach. Leverage your assets so that more can and will benefit from your talents and vision.
Be more transformational in achieving your outcomes and mission objectives. If you are raising money to support a new cancer wing at your community hospital, make it the safest cancer wing possible. If you are seeking to build that new community center, make it the most accessible community center possible. By being transformational in your initiatives, you greatly encourage others to join your effort and collaborate where possible. Collaboration is leverage for a nonprofit, charitable initiative. The power of collaboration is beyond limit.
Be more transcendent by sharing your knowledge and advancements with others, everywhere possible. As they say, imitation is the sincerest form of flattery. Let others use it each time you can, where you can, when you can, without demanding why you can. By allowing others to build on your success, you leverage your charitable initiatives by several factors that traditional fundraising cannot match.
Be more transparent in how you conduct your initiatives. Be open. Be fair. Be complete. By doing so, you inspire confidence and trust. Confidence and trust, in turn, generate greater impact and transformational giving that will make a difference to many more than you might realize today.
Measure your success, as well as your shortcomings in ways that allow you to adjust and grow as you pursue your mission objectives. If your standards of measurement are accurate others will be willing to support and follow you. They will promote you with confidence and that confidence will spread like wildfire.
Be more relational and less transactional in how you approach giving and getting. The type of donor who can make a long-term difference to your initiatives prefers having a relationship with you and your organization, as opposed to simply getting that still-important tax deduction, too. They want to be vested in your success. They want to open their network of family, friends and colleagues to you. And more importantly: they have the ability to do so. Tax deductions are a dime a dozen. Relationships, on the other hand, especially those built on integrity, are far more rare to find. Cherish and honor them.
Be more compelling in your efforts and build enthusiasm for what makes you different. Tell your story to anyone who will listen. Make it as interesting as it actually is. Find all of the data and information you can to support your initiative. Make it universal in scope and encourage others to support you with stories of hope, innovation, and achievement.
Protect donor intent at all times, without fail. Honor their intent and you honor their commitment to your cause. Honor their commitment to your cause, and you ensure your success. Compromise this canon and be doomed to failure when you will be least able to endure it.
Set higher standards by doing rather than talking. Lead by example. Do it voluntarily. Set new standards that everyone will eventually have to adopt and employ. It will differentiate you and your charitable initiatives even more so many will be able to support you as you achieve yourobjectives, brilliantly.
Managing generosity better is a lot easier than you might expect.