I used to hear about advisory boards and wonder how they could possibly help with fundraising beyond the profile-building value of a few big names on a letterhead and website.
But, over the last couple of years, we’ve been working with organizations to create advisory boards that really make a difference for their fundraising.
While an organization might want those big names, it might also consider creating an advisory board to:
- Add fundraising expertise to the organization
- Open doors to a key constituency or audience
- Make connections with funding partners and donors
In our experience, these three models have the potential to produce big change in terms of fundraising capacity and results:
The Brain Trust: We’ve seen professional fundraisers serve very effectively as advisory board members for organizations that have limited staff or that need a particular sort of fundraising expertise. One organization we know uses its fundraising advisory board to help with annual planning. Another recruited major gift fundraising experts when it started a high value program. The group may or may not meet regularly, but is more used as a “go-to” resource for the Development staff.
The Door Openers: Many organizations recruit advisory boards when they want to reach a new audience or constituency in the community. People close to the organization with roots in those audiences or communities are asked to build bridges of trust and information. Funding conversations can start here, too. For example, one group we know wanted more financial advisors to know about their planned giving program, so they recruited a small group of financial advisors to determine the right way to get the word out to their peers. These kinds of advisory groups tend to meet over a shorter period of time and then dissolve after doors are opened and the initial objectives are accomplished.
The Connectors: Organizations will sometimes form advisory boards when the current board of directors does not have access to the funders and donors that the organization needs to fulfill its fundraising ambitions. We’ve seen organizations fruitfully tap this kind of advisory board when when they start to raise money in the corporate or foundation sector by finding just a few people who are willing to make introductions. We’ve also seen our international clients form advisory boards to build funding relationships here in the US from their offices abroad. Depending on their scope, these boards rarely meet, but are open for staff to tap one-on-one for their input, advice, and access.
In all three examples, the groups are formed to engage people who are passionate about the cause and are willing to be called upon for their expertise and connections, but who don’t want the responsibility and time commitment of board membership.
(Of course there is also the added value of using advisory boards as an entryway for organizations to identify potential board members and get to know them in a low-key setting.)
Whatever the inspiration for forming the group, the successful advisory boards all have these 6 things in common:
- The goals are clearly articulated when the advisory board is established.
- There is a job description for the advisory board that is circulated to potential members that includes responsibilities, time commitment, and length of term.
- The group is staffed by an individual who can provide the necessary support from the organization.
- Advisory board members are thanked for their service and receive their own “insider” cultivation and stewardship in addition to receiving general communication about the organization’s activities.
- The chair of the advisory board and/or the supporting staff check in with members individually to ensure they are getting the support from the organization to meet their responsibilities.
- There is a willingness to disband the advisory board or change the goals and objectives as strategy changes.
To form an advisory group that really contributes to your fundraising goal, you need to be organized and strategic. But you also need to be flexible and open to thinking about partnerships in whatever way works for your unique group of people. It might take a while to hit your stride, but the results from high performing advisory boards can be significant in terms of dollars, potential donors, and long-term partnerships.
We’ve seen it happen! What about you? Do you have examples of advisory boards that work for fundraising?
photo by Mr.TinDC via Flickr Creative Commons
