Hi, read David Miller’s article in this week’s issue of the Denver Business Journal. Then e-mail the link to everyone you know (staff, board members, volunteers, donors, other nonprofits).
Entitled The Power of Endowments, it clearly and succinctly makes the arguments about why your organization should establish an endowment:
- It lasts forever.
- An endowment gives you a steady stream of income.
- You are better able to attract other donors.
- Contributors are building a legacy.
This article provides great arguments when you are dealing with:
- Staff or board members who would prefer to see all money go to programs now.
- Funders who ask you why should they give you a grant when you have all that money in an endowment.
If you find you are still not convincing the skeptics, use David’s equation: 8-12=34. (You’ll have to read the article to see how this works).
Click here to read the article. Note: This article currently requires paid subscription to the Denver Business Journal, but editor Bruce Goldberg let me know that their content becomes available to everyone for free four weeks after the publication date. So if you don’t have a subscription, check back in a month–it’s worth it!