4 Steps to a Successful Fundraising Strategy for BIPOC-led Organizations

According to a report by Echoing Green, over the last 20 years, only 10% of philanthropic capital has gone to people of color, while Black-led organizations receive 76% less in unrestricted net assets than their white counterparts. So when it comes to receiving funding that can support and sustain organizations for long-term success, BIPOC-led and serving nonprofits need to be creative and resourceful to move beyond the barriers to serve their communities effectively. 

Through insights gained from a recent webinar Resilia hosted, this blog post dives into effective and successful strategies BIPOC-led nonprofit leaders can use to enhance and diversify their fundraising efforts.

Effective fundraising for your nonprofit organization requires strategy and planning. The following four steps can help you initiate your fundraising activities regardless of your goals, organization size, or areas of focus.  

Step 1: Partner with Organizations to Offer a Product or Service for a Fee
If your nonprofit provides products or services, could you think of which organizations or companies you can partner with, for a fee? For example, S.E.E.K Foundation creates opportunities for children to build products and learn specific skills through STEM/STEAM educational programs. Part of their revenue model is to provide STEM kits to organizations for a fee. 

Does your nonprofit have a product or service to offer? If so: 

• Identify which products or services you can provide 

• Make a list of potential organizations or companies to partner with in your community

• Reach out to these organizations to pitch your products or services, and be sure to follow up
  
  

Step 2: Host Events or 1:1 Meetings to Share Your Nonprofit’s Story
Hosting special events and experiences is a great way to showcase your nonprofit’s story, highlight partnerships, and share your mission. Events don’t have to be massive productions. They can be in-person or online, and even 1:1 - think coffee dates with your donors and supporters! You can even allow your partners to participate by organizing and volunteering at an event for your organization. Engaging local partners in planning and executing events is a great way to expand your nonprofit’s audience and build meaningful connections. 

• Make sure your nonprofit’s story is solid - see Resilia’s Storybuilder tool on our nonprofit platform to get started.

• Pull out your calendar and schedule dates for your events for the year that align with your organization’s strategic planning.

• Create goals for each event, including a post-event recap to evaluate each event.
  

Step 3: Attend Fundraisers for Larger Organizations to Get Ideas
Often large, heavily funded organizations are more equipped to host events. But that doesn’t mean you can’t get inspired by their ideas and adapt them to your organization. If you’re a small, grassroots nonprofit just getting off the ground, you probably don’t have the means to host a huge fundraising gala, but you can start small and work your way up. Follow nonprofits whose work you admire, attend their events, and pay close attention to how they are executed. 

Can you partner with a local business to sponsor a cocktail hour or small dinner with your most enthusiastic donors or supporters? 

• Choose three organizations to follow and attend at least one of their events (This is a great way to get ideas, meet people, and spread the word about your organization!)

• Sign up for those organizations’ newsletters and follow them on social media to stay abreast of their fundraising efforts.

• Brainstorm and develop a list of fundraising event ideas for your nonprofit. What can you do differently or put your own spin on?

Step 4: Consider All Potential Corporate Partners 
If your organization doesn’t already have a corporate partnership strategy, now is the time to start planning. When done right, these sponsorships can bring in additional funds for your organization. Consider companies whose values align with your mission, and compile a list of potential corporate sponsors. 

Ask these questions as you determine ways to grow your corporate sponsorship opportunities:

• Is there someone in your organization who is responsible for reaching out to local large and small businesses to build relationships? 

• If not, are you dedicating time to work on developing partnerships? 

Be sure to research and get your nonprofit on the list of employer donor-matching programs in your area. Large employers often provide matching donations to the nonprofits that their employees support. That means if a local donor gives $25, the employer will match their contribution, providing $50. This encourages potential donors to choose your nonprofit to contribute to because their donation will go further. 

“If we had not had Resilia, I’ll tell you the truth; we would still be completely overwhelmed and underwater. We’re very grateful - so grateful for everything that Resilia has done for us to help support our community. We want to continue to learn with technology. It’s been wonderful.” -Monu Chhetri, Deaf New Americans Advocacy.

To learn more about nonprofit fundraising strategies through short courses, easy-to-use templates, and 1:1 coaching, sign up for the Resilia Nonprofit Platform today!