Importance of the 20-10-10 Plan
Whether beginning a major capital campaign or looking to build your organization’s annual fund, it is critical to understand who your donors are. This might seem like a simple idea, but many organizations don’t know how to uncover their top funders (not only individual donors, but corporate and foundation donors as well).
One exercise that PMA encourages our clients to undertake on a regular basis is to develop a “20-10-10” plan. The purpose of this exercise is for an organization to break down their top 50 funders into:
- Top 20 individual donors
- Top 10 corporate donors
- Top 10 foundation donors
When build corporate donors into your organizations planning, it’s important to know who has already given to your organization and why. Below are some tactics to consider when undergoing this planning process as you focus on corporate funding to help your nonprofit find success.
- Know your corporate funders: Organizations need to know not only who their corporate donors are but why these corporations have given. This will help gain continued funding, while also finding new corporations to give. Many times, corporations want to see support from other corporations. The more support that you have will help to open doors for more funding from others.
- Talk to your stakeholders: Board members, donors, and volunteers have ties to organizations that give philanthropically in your community. It’s not always the largest corporations that you need to target, but building relationships with medium and small businesses in your neighborhood that might find your mission compelling.
- Understand what is important to businesses: When filling out applications for corporate funding, it’s imperative to have done your homework ahead of time to know what part of your organization’s mission will resonate with the business. Not all corporations will be able to give to your organization. Knowing which corporations your nonprofit should target will help to save you time and effort.