By Dr. Kelsey Bassett
Responsible stewardship has long been a buzzword in development and philanthropy, and it can remain an elusive but critical part of the donor lifecycle – especially for nonprofits with limited resources. The Association of Donor Relations Professionals defines stewardship today as the practice of nurturing a relationship with a donor. But really, what is stewardship, and what is at the heart of the art of stewardship?
At Alloy Fundraising, we have subscribed to a set of core values – Wholehearted, Truthful, Curious, Allies – that guide the way we approach our relationships with clients, and we feel these same values apply to the art of stewarding donors, too.
Wholehearted Stewardship
Just as Alloy prides itself on caring deeply about our clients' missions, it is important for you, as a grant-seeker, to care deeply about the philanthropic priorities of the organizations you are trying to engage. Leading conversations with integrity and authenticity can go a long way in building trust with potential and current funders. Keeping your word – and owning up to times when you can't – is more valuable than ever in our fast-paced and often over-stimulated working world!
Alloy Tip: Don’t limit your communications with donors to just the expected donor acknowledgement and annual report. When you see them in the press or notice their Executive Director receives a reward, reach out to them and congratulate them. The relationship is always more than just about the financial investment they have in your organization.
Truthful stewardship
Taking accountability, even when it is difficult, shows a donor that you are committed to a shared responsibility – to not only them but also to your own organization. Being proactive with conversations when a grant-funded project isn't going according to plan is usually much appreciated and welcomed. Most funders do not anticipate you having all the answers, and they truly want to be in partnership with you through the ups and downs.
Curious Stewardship
Don't underestimate the power of listening. When getting to know a prospective donor, curiosity matters – asking thoughtful questions and welcoming new perspectives helps lay the foundation for a strong relationship. The old adage, "If you want money, ask for advice," still holds true!
Alloy Tip: Have you considered having a listening session with some of your closest donors? You may find that an authentic conversation around expectations is insightful for both you and the donor.
Allied Stewardship
Think about ways to bring your donors into your community in an immersive way – not just when you're writing a proposal to them. Are they invited to your annual state of the organization address? What about your scholarship luncheon, your opening day, or your monthly volunteer opportunity? Are you thinking of ways to surprise and delight them with handwritten notes, text messages, birthday cards, or invitations to lunch, outside of your expected reporting period? Do you turn to them for advice when struggling with a challenging situation, and do you offer to be a sounding board, living up to your role as a community pillar?
Donor stewardship is an ongoing effort that requires intentionality and resources. Whether your organization is ready to grow, or you just want to take your donor relations to the next level this year, Alloy Fundraising is here to help. Our new strategic service line offers tailored fundraising plans, donor engagement strategies, and comprehensive campaign support designed to build on your strengths and drive sustainable growth. Let us help you lead with your organization’s unique he(ART) of stewardship.
Contact us today at info@alloyfundraising.com to learn how we can help you cultivate meaningful and long-lasting relationships with your current and prospective donors.
