NextGen Donor, pt. 4 – Diversify

It’s risky to have all your eggs in one basket!

Last week I mentioned creating a fundraising plan. Perhaps you took a moment to scratch out some notes on a napkin.

Now it’s time to go back and review your thoughts. Ask this question – will my plan have more than one big revenue stream? Are do I have all my eggs in one basket?

If you count on one or two pots of money for your budget, you do at least two things: 1) you put your mission at risk if those sources dry up, and 2) you bend your mission to fit the funders wishes as they change, and 3) you probably aren’t able to invest for the future (next week’s topic).

Plan to diversify now. Think about your donor base – annual support, special or major gifts, estate gifts. Each is a different stream that needs attention. Are there grant funders for your mission? Government contracts? Earned income, user fees or sales income?

How can you spread the burden across many revenue streams and put your mission on a solid footing?

Next week, investing now for tomorrow.