Printable Version Tell a friend Download PDF Version

To download PDF version of this web page, right click the link and select "open in a new window" or "save target as."

The Silver Lining of the Financial Crisis

(National Wildlife Federation)

The Silver Lining of the Financial Crisis
by Larry Schwieger

We are living in a time of financial chaos and economic uncertainty.  The U.S. government has implemented the largest economic intervention in history.  Other world leaders are taking similar steps to restore confidence in our interconnected financial systems. 

For those of us who earn our living serving the greater good, these times force us to recalibrate our expectations and obligations.  While the current situation can seem fearful, we have an historic opportunity to transcend today’s uncertainties and seize the momentum to help create a thriving world for people and wildlife.

By clearly defining your top priorities, diversifying your revenue streams, and instilling discipline in the conveying of your outcomes, you can help distinguish your organization from other worthy causes, build a more resilient funding base, and become more effective in your mission.

The current financial uncertainties highlight the need for not-for-profits to be clear about what they are achieving.  As Ray Fisman, Lambert Family Professor of Social Enterprise at Columbia Business School notes in his blog A Philanthropist’s Guide to Rainy Days, philanthropists seek organizations that achieve tangible outcomes.  The organizations that most consistently and clearly articulate their programmatic niche and their ability to be an agent of change among their constituencies are the ones more likely to keep the interest of philanthropists who have many worthy causes vying for their attention.

            And while your eyes might glaze over when hear ‘strategic plan,’ this essential management tool is both process and product that will identify benchmarks to show your supporters how your organization is an agent of change.  And as you engage your team and your key constituencies in developing your strategic plan, you’ll be building their support of the outcomes you will achieve together. 

            The diversity of an ecosystem is its strength.  Similar to monocultures that are more susceptible to a single stressor, not-for-profits that rely on a single or limited income stream are more susceptible to financial disruption.  Now is the time to evaluate your income types and expand your fundraising base.  Income types include unrestricted giving from major donors, members, and supporters; project grants; events; capital gifts; income from planned gifts; and in-kind contributions of goods and services.  If you haven’t already done so, talk with your Board about implementing a policy where every Board member is a donor of record every year.  And consider establishing an advisory council of diverse individuals who can expand your circle of influence and help you secure resources to aid your work through cultivation and/or solicitations.

            By celebrating achievements along the way, and giving credit and thanks to those leaders and supporters who help make your victories happen, you’ll be acknowledging the importance of all your supporters and sending a signal to those considering supporting your organization they will be supporting something larger than themselves.

At National Wildlife Federation, we believe that together we can create a prosperous world for people and wildlife.  That’s why the theme of our 2009 Annual Meeting is “People and Wildlife:  Thriving in a Clean Energy Economy.”  I hope you’ll join us next April in Pittsburgh where together we’ll celebrate our achievements.