Mobilizing Fund Development Services for Long-Term Success and Sustainability

Posted on by Department of Housing and Community Development

In fall of 2023, two of 10 Mobilizing Main Street (MMS) communities – Martinsville’s Uptown Partnership and The Phoebus Partnership – engaged in fund development training with consultant Jennifer Goldman of Jennifer E. Goldman, LLC. Board members and staff participated in a training and strategy session that included a presentation, discussions, and activities with an end goal of creating a comprehensive fund development plan and fundraising strategy. Jennifer’s approach to creating a fund development plan includes multiple steps, and nonprofits can follow this formula to start thinking about their own finances.

  • First, review of current/existing financial information, including annual budgets, recent tax returns, annual work plans, financial statements, a list of funders, and more.
  • Next, staff and board members are invited to complete an anonymous survey and/or participate in private, informational interviews to share feedback.
  • After this information gathering phase, Jennifer facilitates an in-person, multi-hour training around fundraising best practices.
  • Finally, a detailed report outlining refined financial goals, potential revenue streams and sources, opportunities for alignment with work plans, and recommended tracking and reporting practices.

This consultation service was so successful that the remaining eight MMS communities will be receiving a similar service in 2024. This opportunity is right on the heels of Transformation Strategy services with Main Street America (MSA) and work planning sessions with Virginia Main Street (VMS). The goal of this slate of services is for these new Main Street organizations to have a clear picture of the activities they intend to engage in over the next couple of years. And, as they continue to work through the MMS curriculum—in preparation for Advancing Virginia Main Street (AVMS) Designation and Accreditation with MSA—they will begin implementing a robust fund development plan that focuses on relationship building for long-term success and sustainability.

Photo credit: Uptown Partnership & The Phoebus Partnership