Before Rockefeller, wealthy philanthropists gave haphazardly to pet causes and rarely concerned themselves with the results of their giving. J.D. Rockefeller, on the other hand, was obsessed with measurable results and accountability.
He created the modern institution of philanthropy, but he also set the standard for the modern donor. Working in a nonprofit, you probably don’t have Rockefeller’s resources at your disposal, but understanding his criteria for giving can help you tailor your approach to donors and grantmaking organizations. Here are three lessons from the father of philanthropy to help you improve your fundraising efforts.
Respect Money
Rockefeller saw his wealth as a blessing entrusted to him for the betterment of society and felt a religious responsibility to dispose of his money consciously. While your donors may not be quite so extreme, they probably do feel a great deal of ownership towards the funds they set aside for giving.
You should understand your donors’ relationship to their money–as an expression of their value in the world–and make it clear to them that you will steward it well.
Talk and act from an understanding of the fact that they are handing you a piece of their time, work, and effort. Demonstrate to your donors that you respect and value their money as much as they do. Help them feel more at ease entrusting it to you. Show them they can entrust you with their legacy.
This means going beyond the obligatory budget sheets and projections. Understand that you probably think very differently about money you receive and money you get, so try to apply that understanding to how you construct your messaging in fundraising.
Show Accountability
One condition that Rockefeller placed upon all his beneficiaries, even the foundations, and institutes he founded, was that they help themselves before he committed fully. Instead of the free ride, many expected, backing from Rockefeller entailed showing an ability to raise funds independently.
You can use this principle to your advantage as you seek to entice donors, especially in crowdfunding.
While it may be obvious to you that you aren’t just resting on your laurels, waiting for donations to come it, make sure your donors know that you work hard regardless of their individual support.
That will give them the faith that their donations will be well-spent, which in turn will entice them to come back in the future.
Consider the Donor’s Needs
Generally, when asking for donations, you think about your needs, but giving is motivated by the desire to meet some needs as well.
Do you know what your donors need that they get from giving?
Rockefeller needed to justify his wealth, which was the subject of scathing criticism. He also needed to improve his public image by only dealing with organizations that had no political or ethical implications. Thus, he was always seeking out opportunities to support health initiatives and medical research but was very cautious around education, religious charities, racial issues, and government projects.
Those who sought his support had to address his concerns, and those who didn’t, appealing simply to the worthiness of their cause, left empty-handed.
What are the needs of your donors? Even in the context of a nonprofit crowdfunding campaign, there is a certain ideal donor. Spend some time getting to know that person. See if you can figure out what needs they are trying to meet by giving to your cause, and then do your best to cater to them.
Rockefeller’s wealth came from oil, but his legacy lives on in every modern philanthropy. Understanding what motivated him can help you appeal to donors and gain more support for your organization.
