The Art of the Ask. February 22, BDO KNOWLEDGE Webinar Series The Art of the Ask

Transcription

1 The Art of the Ask February 22, 2018 BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. 1 BDO KNOWLEDGE Webinar Series The Art of the Ask

2 THE ART OF THE ASK BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member

3 CPE and Support CPE Participation Requirements To receive CPE credit for this webcast: You ll need to actively participate throughout the program. Be responsive to at least 75% of the participation pop-ups. Please refer to the CPE & Support Handout in the Handouts section for more information about group participation and CPE certificates. Q&A: Submit all questions using the Q&A feature on the lower right corner of the screen. At the end of the presentation, the presenter(s) will review and answer all questions submitted. Technical Support: If you should have technical issues, please contact LearnLive: Click on the Live Chat icon under the Support tab, OR call: Audio: Audio will be streamed through your computer speakers. If you experience audio issues during today s presentation please dial into the teleconference: , teleconference code: 3 BDO KNOWLEDGE Webinar Series The Art of the Ask

4 Presenters Ruth Westreich President, The Westreich Foundation Nonprofit Board Member Philanthropist Nonprofit Advisor Paul Jan Zdunek, MBA, PROSCI Change Management Certified Managing Director, Nonprofit and Education Advisory Services, BDO Nonprofit CEO Nonprofit Board Member Nonprofit Donor Corporate Sponsorship Advisor 4 BDO KNOWLEDGE Webinar Series The Art of the Ask

5 Session Overview Nonprofit Landscape A New Approach to Solving the Fundraising Puzzle Building a Toolset for Success The Role of the Board Summary and Final Thoughts Q & A 5 BDO KNOWLEDGE Webinar Series The Art of the Ask

6 Nonprofit Landscape 6 BDO KNOWLEDGE Webinar Series The Art of the Ask

7 7 BDO KNOWLEDGE Webinar Series The Art of the Ask Source: BDO Nonprofit Institute Benchmarking Survey 2017

8 Nonprofit Giving in the United States Source: The Nonprofit Times 2016 (billions) 8 BDO KNOWLEDGE Webinar Series The Art of the Ask

9 Surplus = Organizational Investment = Greater Impact = Surplus $ $ $ Investors 9 BDO KNOWLEDGE Webinar Series The Art of the Ask 9

10 Company Clock = The Pulse of an Organization FUNDERS PREFER HEALTHY ORGANIZATIONS Fiscally Strong Good Management Strong Governance & Oversight Respond to Change Recreate Themselves 10 BDO KNOWLEDGE Webinar Series The Art of the Ask

11 Funders Don t Invest in Unstable Organizations Case Study: Medical Research School 11 BDO KNOWLEDGE Webinar Series The Art of the Ask

12 Current Nonprofit Funding Models 12 BDO KNOWLEDGE Webinar Series The Art of the Ask

13 Current Nonprofit Funding Models 13 BDO KNOWLEDGE Webinar Series The Art of the Ask

14 If our current model of FUNDRAISING was working, our nonprofits & social causes would be funded and we could all relax and go home! 14 BDO KNOWLEDGE Webinar Series The Art of the Ask

15 A New Approach to Solving the Fundraising Puzzle 15 BDO KNOWLEDGE Webinar Series The Art of the Ask

16 Change the Vocabulary Change the Framework Old Thinking: Not for profit Charity Mission Statement Survival Inform On the board Competition Cultivation Donor/Donation Warm fuzzies Special events Transactions Traditional campaigns Text heavy brochures Cold calls Appointments Ask for money New Thinking: For impact Philanthropy Message Vision Involve On board Collaboration Maximize relationship (ATGM) Investor/Investment Return on investment Memorable experiences Relationships Funding initiative Engagement tool Predisposition Visit Present the opportunity 16 BDO KNOWLEDGE Webinar Series The Art of the Ask

17 New Vocabulary 17 BDO KNOWLEDGE Webinar Series The Art of the Ask

18 New Framework 18 BDO KNOWLEDGE Webinar Series The Art of the Ask

19 Mission Matters The WHY? Your DIFFERENTIATOR GUIDEPOST To Do Not To Do MISSION IMPACT INCOME 19 BDO KNOWLEDGE Webinar Series The Art of the Ask

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21 Nonprofit Present State Impact Era: 2000 s Present Nonprofits rarely use rigorous, fact-based evaluation Donors give mostly in emotional response to fundraising Foundations expect measurement & impact, but don t help Overhead = Bad Ineffective Board Governance & Leadership High/Low Performance Reward/Discipline Measure of Impact Often Defined Years in the Future, if at all 21 BDO KNOWLEDGE Webinar Series The Art of the Ask

22 Nonprofit Future Impact Era 2.0: Present Future Successful Nonprofits are using rigorous, fact-based evaluation Donors give mostly for ROI Return on Investment Foundations are funding measurement tools & impact Overhead = Required for Impact Scrutinized Board Governance & Leadership High/Low Performance = Reward/Discipline Measure of Impact is Necessary for Income, More Impact 22 BDO KNOWLEDGE Webinar Series The Art of the Ask

23 Focus On What Matters We are in the Sales Business That s OK! Need to Implement Business Development Techniques from the For Profit Industry Data-based Qualifying, 3x Pipeline, Close Rate, Constant Follow-Up Work Smarter Not Harder Financial Resources + Human Resources = Real Net ROI CASE STUDY: SALK Institute Symphony at the SALK 23 BDO KNOWLEDGE Webinar Series The Art of the Ask

24 Building a Toolset for Success 24 BDO KNOWLEDGE Webinar Series The Art of the Ask

25 The soul never thinks without a picture. -Aristotle 25 BDO KNOWLEDGE Webinar Series The Art of the Ask

26 Engagement Tool The GOAL is a simple, visual tool (map) to help present a powerful case for support on a shoulder-to-shoulder visit. The PURPOSE of the Engagement Tool is three-fold: 1. It is a specific, visual way to engage the Prospect in conversation and dialogue. (Thus, Engagement Tool vs. Presentation Tool) 2. It s a great framework for the visit/presentation. 3. It puts the close (how you can help) right in front of the Presenter(s) (Sales Team) and the Prospect. The STRATEGY with the Engagement Tool is to control the flow of the Presentation. 26 BDO KNOWLEDGE Webinar Series The Art of the Ask

27 The Engagement Tool is: Not a brochure Not meant to be a standalone Not a collateral piece Not a text-heavy, small print, multiple-page document SHOW (Don t tell) LISTEN (Don t talk) ENGAGE (Don t pitch) 27 BDO KNOWLEDGE Webinar Series The Art of the Ask

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29 Engagement Tool: Purpose 29 BDO KNOWLEDGE Webinar Series The Art of the Ask

30 Engagement Tool: Priorities 30 BDO KNOWLEDGE Webinar Series The Art of the Ask

31 Engagement Tool: Plan 31 BDO KNOWLEDGE Webinar Series The Art of the Ask

32 The Role of the Board 32 BDO KNOWLEDGE Webinar Series The Art of the Ask

33 The Board as Fiduciaries Investors Investment Rainmakers Dispelling the I don t know anyone myth Investor Portfolios Investor Relations Advocacy Authentic Engagement Needed Skills 33 BDO KNOWLEDGE Webinar Series The Art of the Ask

34 Summary & Final Thoughts 34 BDO KNOWLEDGE Webinar Series The Art of the Ask

35 Nonprofit is a Tax Status Not a Business Plan Need a Sound, Healthy Organization Before Developing Your Case for Investment 35 BDO KNOWLEDGE Webinar Series The Art of the Ask

36 Can t Operate in a BUSINESS AS USUAL Environment Need to Engage your Investors AUTHENTICALLY Need to Engage your Board CONSTANTLY Need to Reframe your Funding Conversations IMMEDIATELY 36 BDO KNOWLEDGE Webinar Series The Art of the Ask

37 IMPACT = INCOME People to People People to Purpose Purpose to Prosperity 37 BDO KNOWLEDGE Webinar Series The Art of the Ask

38 Thank You! Questions? 38 BDO KNOWLEDGE Webinar Series The Art of the Ask

39 Resources The Westreich Foundation Ruth Westreich, President BDO USA Paul Jan Zdunek, Managing Director For Impact 39 BDO KNOWLEDGE Webinar Series The Art of the Ask