Year-End Considerations
A Few Things to Consider as 2022 Comes to an End
The end of 2022 is fast approaching. This time of year, many organizations are hard at work on an annual fundraising appeal, updating the organization’s strategic plan, and formulating their financial and operating strategies for the new year. During this busiest time of year, we encourage organizations to take advantage of the resources Brady Ware has available to assist with these year-end activities.
Annual Funds
At our 2022 Take Five Nonprofit Leadership Conference, Libby Villavicencio provided guidance on how to develop an Annual Fund Blueprint for Success. Libby noted that research shows the #1 indicator of fundraising success is having a solid fund development plan in place. To learn more about Libby’s approach to raising money please view her webcast at:
Strengthening Your SWOT Analysis
As noted in our article, Effective Strategic Planning with PESTELC Analysis, many organizations begin the strategic planning process by assessing the organization’s strengths, weaknesses, opportunities, and threats, using a traditional SWOT analysis. Evaluating external factors (opportunities, threats) as well as internal factors (strengths, weakness) is important in developing an organization’s strategic plan.
To strengthen the effectiveness of the traditional SWOT analysis, we suggest an organization first perform a detailed assessment of the organization’s external operating environment by performing a PESTELC analysis. This analysis examines the is a very useful tool to help planning participants develop a common understanding of the world in which the organization exists.
Building Donor Relationships
Having served as a volunteer and Board member for several organizations over the years, I understand securing major gifts is a challenge. To generate major gifts and recurring donations, all things start with building strong donor relationships.
The following are the general steps to build a strong relationship with a donor:
- Introduce them to your organization
- Develop trust.
- Make the ask.
- Do not forget the little things.
Reminders for the Coming Year
In closing, the following are but a few things in store for nonprofits in the coming year:
- Increased reliance on social media in communications, marketing, and fundraising
- Continued growth in on-line giving
- Creation of a customized donor experience
- New approaches to events and donor engagement
- Continued focus on diversity, equity, inclusion, and wellness
- Increased investment in Board development and training
- Responding to the continued “graying” of America
These are a few of the things to consider as we move into 2023.
Brady Ware Nonprofit Advisors want to help you fulfill your mission with financial health and compliance services and a network of nonprofit consultants who specialize in strategic decision-making.
Questions?
Jacob manages a variety of accounting, audit, review, and compilation engagements for the firm’s Columbus, Ohio, clients in numerous industries, including Nonprofit, Retail, Construction, and Auto Dealers. He has an extensive background in auditing nonprofit organizations, as well as experience in auditing employee benefit plans.