On Tuesday, June 3 F+H Partners hosted a virtual roundtable discussion on building strong foundation relationships. Moderated by Peter Hussell of F+H Partners, the discussion included guest speakers Nancy Starner, Senior Director of Foundation and Corporate Relations at Cleveland State University; Katherine Korey, Executive Director at Bright Promises Foundation; and Lauren Krieg, President of Iris Krieg & Associates.
This engaging conversation delved into best practices when it comes to stewarding foundation relationships. For grantseeking organizations, our panelists had two key pieces of advice: Focus on cultivating genuine connection and leaning into authenticity and honesty.
Cultivate Genuine Connection: Just as with all people and organizations, foundations are each unique in their priorities, funding strategies, and communication channels. Learning and understanding these preferences is paramount to successful relationship development. Our speakers emphasized that securing funding is not a transactional process but rather one built on genuine relationships.
Cultivating this connection begins with thorough research. Nancy Starner encouraged organizations to utilize resources like 990s to understand a funder's priorities, past grants, and preferred communication methods. This in-depth research allows organizations to identify true mission alignment and avoid wasting time on ill-suited opportunities.
Additionally, building relationships outside of formal application cycles involves understanding a funder's communication preferences, being personable in correspondence, and strategically identifying touchpoints throughout the year. Lauren Krieg emphasized that it's crucial to discern when a funder welcomes proactive engagement versus when they prefer limited contact, as attempting to persuade a foundation that doesn't desire an open relationship can be counterproductive.
Lean into Authenticity and Honesty: Repeatedly highlighted throughout the conversation was the need for authenticity and honesty in interactions with funders. This means openly sharing challenges and what isn't working, alongside successes, to foster a problem-solving dialogue rather than a performative presentation.
Katherine Korey recalled a day of site visits she attended. One visit was with operational staff and took place in the same room as organizational programming which gave the funders a first-hand look at the organization’s day-to-day experiences and challenges. The second visit was highly orchestrated with director-level executives in a conference room and focused on highly scripted talking points. These vastly different examples highlighted the importance of embracing transparency to foster genuine problem-solving conversations with funders.