CFRE Exam: Relationship Building Questions With 100% Correct Answers

CFRE Exam: Relationship Building Questions With 100% Correct Answers What are donor's motivations for giving? - answerTo get social acceptance To gain a position of influence in helping shape the future of institution and the lives of those being served Because of dedication to the same cause A moral obligation to "be thy brother's keeper" Direct personal benefits to the donor (e.g. access to events, celebrities, etc.) To gain tax or financial planning benefits A commitment to the overall well-being of the community In order to diminish negative feelings such as guilt, fear or anger. To gain immortality. (e.g. have a building named after them) To express deep emotion. (In memory or to honor a loved one) What is the definition of cultivation? - answerthe process of gradually developing interest of an important prospective contribution through exposure to institution, people, needs and plans to the point where a major gift is considered. What is the purpose of cultivation (4) - answeradds prospects to donor base helps move prospects to active and regular donors aids in improving relationships supports achieving the organization's mission. Who should you involve in developing the cultivation plan? - answer-development officer -CEO -board of directors -community volunteers -program leader What are the steps in creating a general cultivation plan? - answer1. identify constituent groups 2. undertake prospect research 3. determine connection, capacity and capability 4. determine best relationship 5. outline moves management plan What is the first step of cultivation plan for organizations? - answerResearch - prospecting What is the second step of cultivation plan for organizations? - answerInquire, Approach, Involve - letter of inquiry or call, determine appropriate and effective way to cultivate like inviting decision maker to site for a visit, etc. What is the third step of a cultivation plan for organizations? - answerDevelop a Request - define a project or funding opportunitiy that matches the source of funding's objectives with your mission What is the fourth step of a cultivation plan for organizations? - answerSolicit - send the proposal or make a call What are the four R's? - answerRight Ask, Right Time, Right Person, Right Amount. What is the fifth step of a cultivation plan for organizations? - answerFollow through. Provide more information if necessary, offer more info if necessary, make personal visit, keep funding source appropriately involved What is the sixth step of a cultivation plan for gorganizations? - answerThank and report back - some organizations have specific reporting procedures while others leave it open; report back honestly, thoroughly and in a timely way. What is the seventh step of a cultivation plan for organizations? - answerRepeat - If you continue to correctly cultivate your organizations they should be deeply engaged with your organization. If they have a positive experience with their first donation, you can continue to build the relationship with them, and eventually make another ask as you find a new match between donor values and organization needs. People or causes? - answerPeople! What is one of the greatest assets in cultivating donors? - answerVolunteers. Don't forget to engage them in building relationships. What do donor relationships need to be based on? - answerAuthenticity. You need to believe in your cause and know your case backwards and forwards.