This is an excerpt from “Fundraising Realities Every Board Member Must Face—A 1-Hour Crash Course on Raising Major Gifts for Nonprofit Organizations,” Third Edition.

No goal, no objective

“Heck, we’ll just raise all we can. We don’t need a goal.” If you’re new to fundraising, you might consider this a sensible approach. What can it hurt?

Nothing but your credibility.

“How much are you trying to raise?”

“Not sure.”

“How much do you need?”

“Loads.”

Prospective donors won’t take you seriously without a carefully formulated goal. They’ll also doubt your organization’s competence.

How do you go about setting a dollar goal?

It’s a bit tricky, for sure. You have to strike just the right balance between what’s feasible, and what’s challenging.

On the one hand, potential donors have to sense your goal is attainable (or they’ll simply toss loose change your way). On the other hand, they must be inspired to make a stretch gift.

Goalsetting is about balancing a number of variables: your need for funds, the persuasiveness of your case, the financial capacity of your prospective donors, your constituency’s appreciation of your achievements, and the strength of your leadership.

Some will argue for a high goal, relishing the challenge.

Others insist on a low, achievable benchmark that leaves everyone proud.

Still others lobby for a goal reflecting the exact costs of the project.

Each side has merits. Which one is right for you depends on the unique makeup of your group—its
talents, ambitions and dedication.

The revised and updated Third Edition of “Fundraising Realities Every Board Member Must Face” is available from Civil Sector Press.