Asking for, and Receiving, Money
Whether you’re fundraising for nonprofit organizations such as the YMCA or raising money for your own organization, it’s vital to know how to properly ask for and receive money.
Money doesn’t grow on trees, nor does it drop off like leaves in the fall! If we need monetary contributions to help a worthy cause, we must ask for them.
We must be bold and forthright in our asking. People cannot read our minds or sense the feelings of our hearts unless we are open and direct. If we really believe in the enterprise, and have given money ourselves, then our request will ring loud and true.
Specificity is Key
It’s important to be specific with your question, as well as with a suggested amount. If I ask you to give “something,” you’ll give the smallest amount you think you can get away with. But if I ask you for a specific amount or to match what I’ve given, that challenges and inspires you to dig deeper. No one is insulted by being asked, or for being asked for more than they might be able to afford to give.
The “best in the business” are people who:
- believe in something deeply enough
- to be able and willing to sell it, and
- are then willing to call on their peers and “ask for the order,” and
- to use their credit to call in favors.
Changing your Mindset
Asking for money is really about exposing people to new arenas and giving them an opportunity to reach beyond themselves to do the extraordinary. In other words, it is a privilege to expose others to facets of our common lives. And it’s a privilege to ask them to join in common cause for the common good. We’re really doing them a favor!
Dealing with Rejection
They may say no, but that’s okay. You can ask them again, and next time you may be pleasantly surprised. You may eventually determine that they are not interested, and then must move on to someone else. Asking for money is tough, but it’s also a chance to underline what you believe in and give others a way of buying in. Often they don’t know what’s out there unless you tell them! You are the messenger.
Don’t Forget to Say Thank You!
A simple “thank you” is the minimum response in thanking your donor for whatever has been offered. It reinforces the instincts of the giver, and it reminds the receiver that what has been given is also the gift of someone’s heart.
Eight letters, yet so many fail to say them, write them, or use them in appreciation for what has been given. So how should you thank your donors? A call and a note are minimum responses to any gift. It takes so little time, yet means so much. It reminds us that we have been taken seriously in our ask for help, and reinforces donors that their gift really means something.
CDS has been a leader in nonprofit fundraising for the past three decades. Contact us if you need more intensive help with your major gift fundraising, strategic planning, or in preparing for a capital campaign.