Ten Things You Need To Know To Raise Capital For Your Nonprofit
For most nonprofit organizations, financial success depends on building a board of directors that is generous in helping to contribute and raise the "venture capital" to launch the enterprise, and strategic in working with the CEO to help establish and achieve a financially sustainable revenue model. It's nearly impossible for a CEO to maximize an organization's financial potential without a highly effective board. And where there's no money, there's no mission.
Worst story ever: no venture capital from the board
A client of mine accompanied his board chair in recruiting high-level business leaders for a new social enterprise for which my client was the founding CEO. Since the organization was starting from scratch, the CEO expected the chair and board to be engaged in developing some of the "venture capital." To the CEO's great surprise, the board chair told each and every one of the new board recruits that they'd never have to give or raise a dime.
Korngold Consulting LLC assists corporations in building fully integrated, high-impact CSR strategies, including leadership development through nonprofit board service. Korngold Consulting trains and places business executives on nonprofit boards, and consults to nonprofit boards and leaders to strengthen governance for financial and strategic success.