voluntary organisations, social enterprises and volunteering
voluntary organisations, social enterprises and volunteering
voluntary organisations, social enterprises and volunteering
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How the learnings from the Heritage Fund Endowment Programme can help your fundraising
Created: 25/11/2024
News/Events Category: Funding and Finance
This item will show under the following categories: Governance Volunteering
Evaluation of the National Lottery Heritage Fund's Endowment Programme shows how endowment schemes can help protect heritage and strengthen organisational resilience. They have released a report on these findings.
Summarising the experiences of the 15 organisations, the report sets out six recommendations for other heritage organisations considering an endowment fund:
- Don’t be deterred: Smaller organisations benefit from their ability to be flexible and pivot their campaigns quickly. Larger organisations benefit from having existing donor bases and established fundraising teams. Use the early stages of the campaign to set up internal structures, gain organisational buy-in and lay the foundations for success using a solid strategic plan.
- Remember you are not alone: Grantees drew strength, support, and momentum from a range of networks to develop their campaigns – existing trustees and donors, community organisations, and other museum and heritage organisations.
- Create excellent communication tools and channels: Raising awareness and maintaining communication includes celebrating key successes along the way. It keeps funders engaged and can attract unexpected donors.
- Diversify your fundraising methods, but not too much: A range of fundraising methods and tactics – from large-scale public events to specialist dinners and tailored donor events – proved successful for their grantees. Use a variety of methods tied to benefits and gifts which recognise the value of the donation to the organisation, but don’t overstretch your resources.
- Match funding improves the offer: Heritage Fund match funding was highly significant, demonstrating trust in the grantees that other donors valued. Taking up opportunities for match funding from a range of sources means the value of one donation can be substantially enhanced.
- Plan for and balance risk and reward: An endowment fund plan needs to integrate both risk and reward, demonstrating to potential donors how it can give a return on investment even in times of economic and social uncertainty.
Click here to read the report.
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