Through Virginia Main Street’s (VMS) Firm Principles, Flexible Paths series, the Center of Nonprofit Excellence (CNE) is diving into their 7 Actionable Principles (7APs) to strengthen nonprofits and their relationships with funders. The 7APs offer a common language around key and proven practices, infused with values of equity and growth. The third principle emphasizes the importance of building relationships.
Action items include:
- We work hard to develop relationships with a range of funders who are best-suited to fund our work;
- We cultivate and steward our funder relationships, seeking to build on shared interests and foster mutual trust and accountability; and
- We are guided by a resource development plan that is tied to our strategy and owned by the whole organization, not just development staff, with all staff and board actively involved in fundraising and ambassadorship.
“I’d like funders to think broadly and generously about making a difference – in other words, consider your gift as a contribution toward healthier communities. The less restrictive you can be, the more creative and innovative we can be. I acknowledge this requires trust – so hold us accountable, too.”
Local nonprofit funder
Bringing It Back to Main Street
Building strong relationships is instrumental in securing financial support for Main Street organizations. When a strong rapport exists with local businesses, residents, community leaders and other stakeholders, it creates a foundation of trust. This trust is a key factor when seeking financial backing, as potential donors or investors are more likely to support organizations they know and believe in.
Effective relationship-building allows Main Street organizations to clearly communicate their mission, vision, and the positive impact they have on the community. This, in turn, resonates with potential supporters, making them more willing to contribute financially. Additionally, strong relationships can lead to collaborative initiatives and partnerships, expanding the organization’s reach and influence, thereby attracting more financial support.
In essence, the personal connections forged through relationship-building serve as a catalyst for financial growth, fostering a supportive network that understands and values the organization’s role in the community. Click through to learn more about how to grow financial support by building mutual trust and accountability.
At CNE, our vision is equitable, thriving, and just communities powered by healthy nonprofits, and our mission is to be a champion, learning partner, and advisor for Virginia nonprofits.
Virginia Main Street 