Although fundraising and development go hand-in-hand, they are not one and the same. Each supports the other in building sustainable revenue for nonprofit and social impact organizations.
How are they different? When talking about funding nonprofits, we primarily use the word fundraising. But most of work falls in the development category. Here is an easy way to discern the difference:
fundraising = transactional
development = relational
Fundraising describes an activity that is transactional in nature. The focus is on immediate solicitation - The ‘ask’ or as I like to say, The Invitation.
Development on the other hand, is the building and nurturing of life-long relationships between the donor and the organization that results in revenue through donations AND advocacy in the community on your organization’s behalf. These relationships are cultivated and nurtured based on education, curiosity and attentive stewardship AND include solicitation - but on the donor’s timeline.
This distinction is critical! In order to build a consistent, sustainable flow of financial support for your organization, it is essential to develop these authentic, long-term relationships.
How are you engaging your donors to create life-long partnership?