FAQs From Business Executives Re: Financial Giving to Nonprofit Boards - Part II
"I'm okay with giving money to a nonprofit that I care about, but do I have to ask friends and colleagues for money if I serve on a nonprofit board?" That's another question that many business executives ask me when I interview them in preparation for conducting board trainings.
This post, with FAQs 6 - 12, follows Part I where you can find the first 5 FAQs and my responses.
6. Must I ask friends and colleagues for money if I serve on a nonprofit board?
This depends on the board's expectations and what you discuss and plan with the organization's CEO before you join the board (see Q. #3). In most cases, each board member has particular strengths--some have individual wealth, some have access to corporate funds, some are enthusiastic fundraisers, others have expertise related to government funding, and so on. The baseline for most organizations is that everyone make a personal financial contribution and also add significant value in their own unique way.
As to asking family, friends, and colleagues to contribute, you can do a great deal of good for your nonprofit if you can develop the ability to ask people for contributions; I have seen many people learn--people who never imagined they could.
Here's how: Get to know your organization, make site visits, understand how donated funds will make a difference, and learn how to make the case. If you are really passionate about the mission, it can become rather easy to ask people to help support your nonprofit's work. It can even become fun!
Think about it. Every new friend and donor you develop for your organization will help advance the amazing work of your organization--whether it's feeding malnourished children in Haiti, protecting Earth's most important natural places, or helping young people in public housing to get to college (my board!).
By the way, you do need to make your own personal financial contribution before you ask others.
7. How do I introduce friends and colleagues to my organization?
Korngold Consulting LLC assists corporations in building fully integrated, high-impact CSR strategies, including leadership development through nonprofit board service. Korngold Consulting trains and places business executives on nonprofit boards, and consults to nonprofit boards and leaders to strengthen governance for financial and strategic success.