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Boards have an important role to play
Financial sustainability is a core responsibility of the board. If private sector investment is part of your organisation’s revenue strategy, the board has an important role to play in:
- championing private investment success
- driving strategies to secure support
- fostering a culture of private investment in your organisation.
As an organisation, you’re more likely to excel in private sector fundraising if your board is active, committed and involved.
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If the board treats fundraising as someone else’s job, sustainability becomes fragile. When the board sees fundraising as part of its stewardship role, income decisions are more likely to be strategic, ethical and aligned with purpose.
The benefits of having an engaged board
When your board is engaged and involved in private investment, it helps your organisation in many ways.
Builds a culture of private investment
Private investment is strongest when it’s seen as a shared responsibility, not the work of one person or team. The board should help set this culture. When the board is actively and visibly involved, it:
- signals that building private sector support is an organisational priority
- encourages shared responsibility across the organisation.
Building a culture of private investment takes time. It starts with leadership and grows as people across the organisation understand the role they can play.
Strengthens credibility
Board involvement can give potential donors, partners and business leaders greater confidence in your organisation and its leadership.
Expands your network
Board members can open doors to individuals, businesses, trusts, foundations and other supporters.
Strengthens fundraising capacity
An engaged board can ensure private investment is properly resourced through realistic budgets and appropriate staffing levels. Board members can also contribute their own time, networks and skills to support the work.
Increases and diversifies private sector support
Board involvement fosters stronger relationships and networks. This can:
- grow the overall level of private sector support
- broaden the income mix across different types of private investment.
Builds continuity and resilience
When many people, including board members, are involved in managing supporter relationships, this builds continuity. It means relationships are less likely to be lost when people leave or change roles.
Development and the board
Learn more about why boards should get involved in fundraising.
The gratitude shift: How to thank supporters and build lasting relationships
How a well-timed, well-told thank you can help you build trust, deepen loyalty and raise more.
Private investment roles and responsibilities
Understand how leaders and boards can work together to drive private investment success.
