Organizations with a strong endowment fund generally have a story about how they got there. It's a story of two parties.
The Surprise Party
In other words, the organization is waiting for someone else to throw them another surprise party.
Other organizations have been very deliberate about building their endowment fund. They have cultivated relationships over time as part of an endowment-building program. They celebrate regularly through legacy society events and special recognition. Their experience is one of continual gratitude and sharing, not surprises.
In other words, they’re hosting their own parties, not waiting for someone else to throw them one!
What kind of party do you want?
Starting is easier than you think.
The good news is that advanced strategies are not required to conduct a successful endowment development program. Rather, successful endowment development is directly related to faithfully and consistently implementing simple endowment development program strategies.The biggest challenges to a successful program are making the decision to get a program started and making the commitment to conduct the program year after year after year.
Implementing the basics turns out to be an advanced strategy!
Endowment development programs are perhaps the best source of additional contributed income available to nonprofits, one that allows their best supporters to make estate-planning decisions that are in the donor’s interests and benefits the organization as well.
The best time to start was 20 years ago. The second best time to start? Today.
Today is a great time to get started. Contact a long-time friend of your organization and invite them to sit down over a cup of coffee. Your agenda is simply to hear their story and share your vision. Commit to having these wonderful conversations regularly, and you’ll be well on your way to establishing your own successful endowment program!
Have you had a surprise party or celebration party at your organization? We’d love to hear more in the comments below.