Fundraising seems simple. Ask a corporation for money, as we read that they “give out money” for various causes. My personal experience is that this “ask” is difficult, if not overwhelming, especially if you do not know where to start. Through organizational projects with Engineers Without Borders and Outreach Ethiopia, I have learned various approaches and strategies for effective fundraising.
My learnings and how you can use them:
Tie the cause to the company vision and purpose
Corporations are overloaded with requests from their employees, local communities, non-profit organizations etc. daily for funds. Your project must be unique to catch their attention. If you are working on a particular project, make sure you seek out companies who have products related to your project. For example, if you are working on a food-related project, approach companies that are in the food industry since there is a clear connection to your project.
In addition, search for companies who have business ties in your project’s region or location. The corporation’s Public Relations and Community Impact departments are always looking for ways to be a good corporate neighbor or partner in their community.
Minimize your slides
For one of our Engineering Without Borders projects, we prepared 37 slides to make our case to a corporation. We were excited to get an appointment with the VP of their Engineering Department. After receiving feedback from a public affairs professional, we cut the slide deck to a total of seven slides, including the title page! Leaders at the decision-making level are busy with many meetings, and they do not have the patience to go through 37 slides. They just want the main story and immediately want to hear how their business can support your project. After cutting our slide count to 7 and giving a concise presentation, we successfully received $15,000 for our project.
Ask for a specific amount and show how it will be used
When you ask for project funds, make sure to ask for a specific amount and be clear how it will be used. For example, you could ask for $5,000 that will cover the cost of materials. Being specific will help donors understand where and how the money will be used. If you don’t propose an exact amount, the donor may give less than expected, leaving you disappointed. Hence, ask for what you want. Be prepared to receive more or less money depending on how your project is valued against all the competing projects for the company’s planned giving that year.
Update each step with your donor
Keep strong relationships with your donors through effective communication. After receiving the funding, follow up with a thank you note. Then, as each step of the project is completed, continue to update the donors on the project progress, so they see their donation “at work.” During the project, take pictures and videos. After the project is complete, make a short video with your team that shows the entire project from inception to completion. At the end of the video, add a thank you to all the donors. Seeing how their money impacted your project, and the community may drive them to donate again for your next project.
Don’t get disappointed and try, try, try!
The average success rate for a donation request, measured by donor conversion rate, is very low. Don’t get disappointed if you don’t receive any funding from potential donors. Rather, learn from it, adjust your information as needed, and go to the next potential donor. Always ask for feedback and keep in touch with the ones who couldn’t support your project because perhaps they can help with the next one.
Retention Rate
Building relationships with donors who previously supported your projects is essential. According to an article by Bloomerang, a nonprofit donor management software company, states that donor retention is around 40%. This means that 40% of people who previously donated, will donate again to that same cause. This is why networking and staying in touch is so important.
Powerful Fundraising Lessons for Effective Communication
Getting started with fundraising can be overwhelming, especially if you’re not sure where to begin. But with the right approach it doesn’t have to be difficult. As you build your presentation, you will learn effective communications. The key is to figure out how a company’s contribution will benefit the company and your project in just a few short slides. Keep it short and be sure to update your sponsor.
Anteneh Zewde is a Global Reliability & Maintenance Consultant/Leader at DuPont. He has 25 years of experience in various roles in design & development, reliability, maintenance, manufacturing support, project engineering, and leadership roles along with two patents. He is an active volunteer for Engineers Without Borders (EWB), leading the Eastern Pennsylvania & Delaware region projects across the world. He received the EWB Exceptional Leadership Award in 2022 and DuPont’s Corporate Community Impact Champion Award in 2023. Anteneh graduated from the University of Cincinnati with a B.S. in Mechanical Engineering and from Drexel University with an M.B.A.
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