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Running for a Cause: Lessons From a First-Time Fundraiser

Last October, I was selected to be part of the 2015 Boston Children’s Hospital Miles for Miracles Marathon team. (That is quite the mouthful, isn’t it?) Aside from the rigorous training I knew I would have to go through to prepare for the marathon in April, I was also tasked with raising $5,000 to benefit the hospital when I joined the team. Boston Children’s really understands the importance of training the next generation of top pediatricians and nurses so that they can continue to provide the best, most innovative care possible to kids. I witnessed this firsthand when a loved one of mine was in their care—so while I knew raising $5,000 was going to be a challenge, I am happy to be able to give back to such an amazing hospital.

Up until the start of the marathon training season, I didn’t have any experience with fundraising. Although I’ve happily donated to causes that my friends, family, and colleagues are passionate about, this marked the first time I’ve been the fundraiser—unless, of course, we look back on the time I solicited “donations” for that American Girl doll I absolutely had to have.

In this day and age (I sound 100 years old), the importance of utilizing modern technology to get your message out has become abundantly clear. After setting up my fundraising page, the very first step I took when I learned that I had been accepted onto the Miles for Miracles team was craft one heck of a plea for donations in the form of an email. The message ended up eliciting a solid number of donations before it inevitably fell into the black hole that is everyone’s inbox.

 

I knew I needed to ramp up my efforts, so I turned to—you guessed it—social media. Realizing that social media was the best chance I had of reaching everyone in my network, I started posting the link to my donation page once or twice a week on Facebook: “Hey!? Have you donated? Do you want to do donate? You guys, you should donate!” Lo and behold, the gifts started rolling in.

To add a little extra incentive, I started publicly thanking those who gave by tagging them in posts on my Facebook page (for example: “Big hugs go out to Audrey Hepburn for your donation in support of my marathon run!”). That strategy drove even more donations; when people saw that a friend or family member had made a gift, it encouraged them to donate to my campaign too.

Social media was also key to promoting the fundraiser that my boyfriend (who is also running with me this year) and I hosted to benefit Boston Children’s. What better way to get the word out than through an event invite on Facebook? We had a fantastic turnout and ended up raising $1,285.

I can say with confidence that if I hadn’t incorporated social media into my fundraising campaign, I would not be anywhere close to my goal right now. Sending a mass email and asking for donations face-to-face are both effective tactics, but they just didn’t produce the same results as using Facebook. Thanks to the wide reach of social media and the immense generosity of my friends and family, I’m nearly at that $5,000 mark—and I plan on powering through, right to that Boylston Street finish line!

 

EverTrue’s Anna Dynarski is a biz dev guru. She is also a black belt wordsmith and an avid Cranium player. A trained actor, Anna brings a special “something” to the inside sales world.

 

Endowment Spending & Growth Calculator

Enter your fund's current value and adjust the return, spending, and inflation sliders to see how its value in today's dollars changes over time.

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4. Continue to Steward Donors

Your relationship with the donors who give to your endowment doesn’t end when you secure their gifts. Because your endowment exists to make a difference in the long term, your supporters will want you to keep in touch about its progress. Ongoing stewardship means keeping donors updated about your endowment’s performance and impact. A report that strengthens your relationship with donors should cover:
  • The fund’s balance at the start and end of the year
  • Spending amounts and allocations
  • How the fund’s returns compare to your investment targets
  • A short narrative detailing the specific impacts the endowment achieved
Create a report for each endowment rather than sending an identical document to everyone. A donor who endowed a scholarship wants to hear about the students it supported, while a donor who endowed a building fund wants updates on construction projects.

5. Upgrade Your Endowment Management Tools

Your endowment management tools should make applying your spending policy across every fund easy. Investing in dedicated software is especially useful as your endowment grows. Handling unitization in spreadsheets might work for a few funds, but as you begin to manage dozens or hundreds of gifts, dedicated software can save your team time spent manually calculating gains and losses for each one.

Why Nonprofits Need Dedicated Endowment Management Software

Dedicated endowment software brings accuracy and consistency to every part of the management process, from tracking individual funds to improving security. See how these solutions compare to a spreadsheet-based approach: nfographic table outlining the information below.

How These Methods Compare:

In managing your endowment with traditional spreadsheets, you may see:
  • High administrative burden: Manual entry across disconnected systems
  • Limited security and audit footprints: Reduced version control and audit trail visibility
  • Difficulty with donor transparency: Spreadsheets provide only static data that is difficult to turn into custom results.
By using dedicated software, you are likely to find the following improvements:
  • Lower administrative burden: Automated fund tracking and calculated allocations
  • Enhanced security and audit footprint: Audit-ready reconciliation with clear tracking
  • Greater donor transparency: Connects with reporting platforms
Dedicated endowment management software keeps your organization compliant while freeing up the time your team once spent manually managing spreadsheets.

Secure Your Endowment with Balance by EverTrue

Effective endowment management begins with excellent accounting. Balance by EverTrue handles unitization, applies spending rules, and produces audit-ready reports, so your team can spend more time on the donor relationships that built the fund in the first place.
  • Turn your data into a clear picture of long-term impact. Combine accurate fund accounting with donor reporting that showcases impact.
  • Connect with the tools you already use. Pair Balance with Impact by EverTrue and ODDER by EverTrue to create and deliver compelling digital endowment reports that you can send to donors with ease.
  • Know where every fund stands in real time. Check market values, gift history, and available spending for any fund. Then, share view-only versions with your team, so everyone stays informed.
With Balance, your team can stop spending all your time on manual management and instead add balance to your endowment workflow.

Additional Resources

To learn more about managing your endowment and other ways that technology can help your organization, check out these additional resources: Less stress, higher endowment funds. Discover how Balance provides the organization, security, and accuracy your endowment needs. Request a demo.
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