## Fundraising Strategy Developing A Fundraising Strategy

Fundraising for Archives Sharon Elliot 
8th August 2017
We will demonstrate  the skills and tools required to develop an effective fundraising strategy.

## Why Is A Fundraising Strategy Important?

"Would you tell me, please, which way I ought to go from here?"
"I don't much care where –"
"That depends a good deal on where you want to get to."
"Then it doesn't matter which way you go."
The worst fundraising strategy in the world!

## Fundraising Strategy In Context

Mission

## What'S In A Name…. Examples

•
Oxfam Vision: A just world without poverty
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Mission: To create lasting solutions to poverty, hunger, and social injustice.
•
English Heritage: Our vision is that people will experience the story of England
where it really happened
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Mission: To make sure that the historic environment of England is properly maintained and cared for. By employing some of the country's very best
architects, archieologists and historians we aim to help people understand and appreciate why the historic buildings and landscapes around them matter. From the first traces of civilisation, to the most significant buildings of the 20th century, we want every important site to get the care and attention it deserves.
•
The British Library: Our mission: Advancing the world's knowledge
•
Our vision: In 2020, the British Library will be a leading hub in the global information network, advancing knowledge through our collections, expertise and partnerships, for the benefit of the economy and society and the enrichment of cultural life.
https://www.youtube.com/watch
?v=lNOQAuMGxBQ

## Fundraising Strategy In Context

Mission Objectives

## Fundraising Strategy In Context Income Options Income Sources: Setting Targets

•
Targeting is essential in any Fundraising Strategy
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Whether you have one overall target or several depending on what you want to achieve - make sure you have one!
•
Be realistic - make sure your targets and who you are targeting for the funds align!
•
Make sure you have a plan in place to manage how 
you are going to achieve your targets 

## How Much Money Do You Need? Need Is Not The Same As Want!

What do you need funds to pay for?
•
What is already funded?
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Can you justify your expenditure?
Do you need to generate more money over time?
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Why? What for? (is there a need for you to do more work, and if so, can you justify it?)

## Modesty Is The Best Policy Income Options Lunch After Lunch Exercise Fundraising Strategy In Context Resourcing Your Fundraising You Need To Also Make Sure You Allow Space For Fundraising

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How can you commit resource to fundraising?
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Does this impact on how much you can realistically raise?
•
If your need is great, how can you find extra resource?
•
Fundraising has lead-in times  so if you started today you may see returns in 

6 months+ for Trusts/Foundations
Anything from 1 to 10 years+ for 
Legacy gifts
2 years+ for Major Donors 
1 years+ for Corporate sponsorship

## Wider Context Remember - Not All Archives Are Equal (When It Comes To Fundraising)

How well equipped is your sector to fundraise? How much internal support will you need to have, particularly if your archive is part of a larger body?

How much funding can your archive raise from within your larger organisation If your archive is independent/ specialist what are the reasons that you should be going into fundraising, and who are you competing with? How geared up will you be to resource a fundraising campaign?

"Have we thought about asking Richard Branson for a donation?"

## Fundraising Activities Risky Business… Building Risk Into Target Setting: Developing A Pipeline

As part of your target setting you should have pipeline of prospects, at least for the next year you need funds for.  
Then you can….

1.
Determine definitions which work for you for what constitutes a High, 
Medium or Low probability of being successful.
2.
Grade each income opportunity as 'high probability, medium 
probability or low probability' of success. You may also want to have 
a category 'cold ask' for those that are a complete long-shot.
3.
Adjust the amount of potential income accordingly. 

## Addressing Other Risks Format

There is no 'right' format or structure –
do what works for you! The next few slides give some options for different headings you may want to use, and questions you may want to answer. 

Don't feel constrained by them however!  Do what works for you. 

## Thank You Fundraising For Archives