Michelle Lovely, CFRE, Senior Vice President of Development and Donor Services
Ensuring that your nonprofit organization has enough funding to carry out its important work can be a daunting and difficult task. Wouldn’t it be great to know that each year you could count on a specific amount of operating revenue? One way that your organization can do this is by establishing an endowed fund through The Dayton Foundation.
Like most nonprofits, your organization likely raises the majority of its funding through special events, annual campaigns and capital campaigns. Often, these activities are labor intensive and require work by volunteers, staff and even outside consultants. And while these efforts are essential to your organization’s viability, establishing an endowed fund through The Dayton Foundation can give you peace of mind by creating a permanent source of income for your organization.
Building an endowment to sustain your organization does not happen overnight. That said, putting some simple strategies into place today will help grow your endowment well into the future. First, your organization’s leadership and development staff will need to make it a priority to discuss with prospective donors the possibility of providing for your organization in their estate plans. These “asks” should be an open-ended conversation that doesn’t necessarily focus on a dollar amount but rather aligns the estate gift with the donor’s passion for your cause. Second, marketing and development efforts should regularly promote estate gifts to prospective and current donors by emphasizing the impact these gifts will have on your organization’s future stability. Finally, your board members need to be your nonprofit’s biggest and loudest cheerleaders. Enlisting their help to tell friends, members of service clubs, neighbors and co-workers about the importance of your work and why they should support it is key to building a successful legacy for your organization.
Partnering with The Dayton Foundation is a great way to encourage legacy gifts while simplifying the burden on your organization. When you create an endowed fund through the Foundation, you have access to our personalized service and knowledgeable staff who will help you accept gifts that will contribute to your organization’s longevity. We also will work to maximize the charitable benefits of your donors’ estate gifts, helping them to achieve their charitable giving goals and ensuring their gifts will be meaningful to your organization. From tax-saving techniques to handling the investment management and administrative details, it’s a win-win for you and your donors.