Assuring Your Financial Future: Strategies to Sustain Your Program - PowerPoint PPT Presentation

Collaborative Mentoring Webinar Series Assuring Your Financial Future: Strategies to Sustain Your Program January 21, 2016

2016 Collaborative Mentoring Webinar Series Planning Team Collaborative Mentoring Webinar Series

Good to Know… One week after the webinar, all attendees receive an email with:  Instructions for how to access PDF of presentation slides and webinar recording  Link to the Collaborative Mentoring Webinar Series webpage, where all slides, recordings, and resources are posted. Please help us out by answering survey questions at the end of the webinar. Collaborative Mentoring Webinar Series

Participate in Today’ s Webinar All attendees muted for best sound • Type questions and comments in • the question box Respond to polls • Who is with us today? • Collaborative Mentoring Webinar Series

DOJ Financial Guide Section on Fundraising • OJJDP grantees must adhere to DOJ Financial Guide Section on Fundraising • “You may not charge as direct or indirect costs against your award the costs of organized fundraising, including financial campaigns, endowment drives, solicitation of gifts and bequests, and similar expenses incurred solely to raise capital or obtain contributions” Collaborative Mentoring Webinar Series

Dr. Susan G. Weinberger • President of the Mentor Consulting Group located in Norwalk, CT • Pioneer in the creation of school- based mentoring in America in the early 1980s • Served on the Board of MENTOR and was Chair of its Public Policy Council • Received President Clinton’s coveted Volunteer Action Award at the White House • Has mentored a young woman since age 7 who is now 29 Collaborative Mentoring Webinar Series

Jerry Dash • CEO of VIP Mentoring, Inc. • Has led grant-seeking efforts for 27 years • Resulted in $15 million in Federal, State and Foundation grant awards Collaborative Mentoring Webinar Series

Dr. Susan Weinberger’s Presentation Four areas for discussion • The need for fundraising • Board development and engagement • Individual and annual giving • Corporate and foundation giving Collaborative Mentoring Webinar Series

Mentor Coordinators Job Description • Create long range and marketing plans. • Recruit, screen and train mentors and mentees. • Match the pairs and monitor the relationship. • Keep accurate data reporting and tracking. • Evaluate the program and celebrate success. • Create long term marketing plans. Collaborative Mentoring Webinar Series

How can I do all that is required of me in my busy job and FUNDRAISE, too? Collaborative Mentoring Webinar Series

Fundraising • If more than 30% of your budget comes from only one source, you are already in a crisis mode. • We must get comfortable with the “f” word: FUNDRAISING. • Key to fundraising is to DIVERSIFY and work at it 365 days a year. • Number 1 reason people donate to charity – because they are asked. Don’t be afraid to ask….. Collaborative Mentoring Webinar Series

Need to Fundraise - Why Diversify? • One funding source could dry up. • Don’t wait for the crisis. • Building a stable, diversified base will give you “breathing room.” • Prospective donors and funders will be impressed. They will only invest when they know you are financially stable. • Not when program is in final year of a grant. • Not a solution to a crisis, but rather a comprehensive effort over 365 days a year. Collaborative Mentoring Webinar Series

Interesting Factoid How important is each of the following reasons to contribute to a charitable organization? 72.1% Someone I know well asked. 60.7% Have volunteered at the organization. 59.1% Asked by the clergy. 43.3% Read or heard a news story. 38.2% Asked at work Door-to-door solicitations and Phonathons. Where are they in the mix? Collaborative Mentoring Webinar Series

Your Private/Public Partners • Identify your current private and public sources of funding. • Consider both your successes in engaging them along with issues and challenges you have encountered. Collaborative Mentoring Webinar Series

Challenges for Mentoring Programs • Government funding cutbacks but good news …NMRC portal – FREE TA & Training • Shortfalls in traditional grant sources. • Competition with other programs. • Small staff with limited time beyond program operations. Collaborative Mentoring Webinar Series

Engaging the Private Sector Program Components in Place • By-laws and 501(c)(3) status. • Clearly written mission statement. • Compelling and well defined goals and objectives. • Long range plan for long haul. • Statement of critical need. • Detailed budget. • Financial statement of growth outcomes. • Data collection procedures. • Demonstrated fiscal responsibility and accounting system. • Track record of successful outcomes.. ” how do we know it is working?” Collaborative Mentoring Webinar Series

Program Components in Place • Current funding from multiple and diverse sources. • Passionate and qualified manager. • Trusted by the community. • Responsive to changing needs. • Strong, active, experienced, enthusiastic and effective Board of Directors and Advisory Council. Collaborative Mentoring Webinar Series

Engaging Your Board of Directors/Advisory Council Board for Directors 1. Has fiduciary responsibility for the agency. 2. Conducts year round fundraising. 3. Hires and fires Executive Director (Governance) 4. Appoints designee as liaison to Advisory Council. Advisory Council/Committee 1. Helps with fundraising and marketing. 2. Opens doors and rolodex to recruit mentors. 3. Offers internships, part time employment and expertise for students. Collaborative Mentoring Webinar Series

Preparing to Engage Your Advisory Council • Formation or expansion of a strong Advisory Council. • Do you have a Council now? Who sits on it? • Poll #3 – Who sits on your Council now? Collaborative Mentoring Webinar Series

Advisory Council Roles and Responsibilities: • Provides input and leadership to the program. • Provides a voice to constituents and stakeholders as the program evolves over time. • Ensures youth, volunteers, and others have a say in how services are delivered and that the program gets the support it needs to recruit volunteers, provide meaningful match activities, and effectively engages the community. Collaborative Mentoring Webinar Series

Roles and Responsibilities Select only the right volunteers to serve. • Diversify your Council. Invite those who believe in your mission, your mentees and mentoring. • Consider current volunteers for the Council. • Identify natural leaders for membership. • Select among significant donors. • Meet on a regularly scheduled basis. • Indicate that serving is an honor and a privilege. Collaborative Mentoring Webinar Series

Advisory Council - Three “t’s” Time, Talent and Treasure Business Leader Community Organizer Financier-Accountant Fundraiser Educator Politician Philanthropist Grant Writer Public Relations Media Marketing Faith Community Tax Advisor Attorney (only one!) Physician Foundation Rep Juvenile Justice Municipal Employee Collaborative Mentoring Webinar Series

How Effective is Your Council? All members must be willing to: 1. Roll up their sleeves. 2. Work on the fundraising campaign. 3. Make the right contacts and ask for $$$. 4. Open their Rolodex. 5. Give annually to the mentoring program themselves. Collaborative Mentoring Webinar Series

Six Sources of Funding 1. Individuals/Annual appeal 2. Corporations 3. Private/Public Foundations 4. Government 5. Special or 3 rd party events 6. Tax Credits, In-kind And the art of grant-writing Collaborative Mentoring Webinar Series

Additional Sources of Funding • Planned Giving • Program Events and Direct Marketing • Direct Mail and Phonathons • Fee for model replication • United Way – designated donations Collaborative Mentoring Webinar Series

Individual Giving - Some Good News! • A total of 83% of all giving comes from individuals. (American Association of Fundraising Counsel & Giving Institute) • Nearly 9 out of 10 families make charitable donations. • People give to something that satisfies them on a deeply personal level. Collaborative Mentoring Webinar Series

Individual Giving • Misconception that only persons of wealth give. • Most annual charitable giving comes from middle-income, working-class, and poor people. • Study showed that 19% of families living on welfare give away average of $72/yearly. (Blocks, Syracuse University) • Seek Advisory Council/Board to help brainstorm all people they know that could give. Collaborative Mentoring Webinar Series

Best Time of Year for the Ask • Varies but most solicitations arrive in December before the holidays and year-end tax deductions. • Consider shifting to a request during January, National Mentoring Month. Make it the same date in subsequent years. • Annual campaign letter cosigned by you and a Council member who knows them. Have them write a personal note and follow up by phone. Collaborative Mentoring Webinar Series