Nonprofits looking to expand their financial base should engage finance professionals, such as wealth managers, estate planning attorneys, and accountants. These individuals can connect your organization to clients who are drawn to your mission.
The first step in engaging financial professionals, is to identify individuals who are influential in their clients’ charitable giving. As you identify these individuals, take the time to connect with them, introduce them to your organization, and invite them to see your organization’s mission in action.
When you invite financial professionals to experience your mission, you want to make sure that this is an event that involves your various stakeholders. Provide them with the opportunity to tour your operations and offer them with an exclusive opportunity that is not available to the general public. I recommend treating these individuals like your major donors. I would steward them to volunteer, receive special benefits and have them receive special communications for inside information and special events.
If done correctly, engaging these professionals will help to expand your nonprofit’s financial base. However, it is important to note that you will not reap the benefits overnight, but if you don’t invest the time to connect with these individuals, you could miss out on future six to seven figure gifts.
One concrete way to engage financial professionals with your organization is by hosting a speaker series where you can bring in different professionals to speak on various topics. For example:
- How to Legally Avoid Unnecessary Taxation
- Transform Taxable Capital to Social Capital
- Building Your Family’s Legacy
- How can I minimize estate taxes for my loved ones?
- Life Settlement: How to benefit you as the donor and your charity
- What are Charitable Trusts and is this a viable option for me?
- Estate Planning Attorneys set up the instruments
Remember, when reaching out to these individuals, that the relationship you’re cultivating must be mutually beneficial for them. For one thing, you want to make sure they are connected with your mission and want to help your organization thrive.