Reflect, Review, Refine: Your First Move in Effective Fundraising Planning
Goal: Understand what worked, what didn’t, and where to focus your energy in 2026.
1. Gather All Relevant Data
💗 Collect the full picture before analyzing.
- Pull all fundraising revenue reports (from your CRM, QuickBooks, spreadsheets, etc.).
- Gather expense data for campaigns, events, consultants, software, printing, ads, staff hours, etc.
- Collect donor files: lists of new donors, lapsed donors, monthly donors, major donors.
- Pull your grant calendar from last year (submitted, awarded, declined).
- Locate metrics from digital channels: email open rates, social media engagement, website traffic, donation form conversion.
2. Create a Master List of Fundraising Activities
💗 Looking at the information you gathered, document everything that brought in revenue the previous year. List each activity separately so you can measure it accurately.
Examples:
- Foundation grants
- Corporate sponsorships
- Individual donations (small gifts, major gifts, monthly giving)
- Fundraising events (galas, online events, peer-to-peer campaigns)
- Year-end campaigns
- Giving Tuesday
- Earned revenue or program fees
- Government grants
- Board giving
- Workplace giving / matching gifts
3. Record Revenue for Each Activity
For each activity, capture:
- Total amount raised
- Number of donors/participants
- Average gift size
- Largest gift / smallest gift (if applicable)
💗 This becomes the foundation for understanding effectiveness.
4. Record the Costs (Financial + Staff Time)
To understand true ROI, include:
- Direct expenses (marketing, printing, software, venues)
- Indirect expenses (staff hours—estimate if needed)
- Consultant or contractor fees
- Any technology or tools used
- Volunteer time (optional but helpful for capacity planning)
5. Calculate ROI for Each Activity
A simple formula to do this:
(Total Revenue – Total Costs) ÷ Total Costs = ROI
Example:
A campaign raised $20,000 and cost $5,000.
ROI = (20,000 – 5,000) ÷ 5,000 = 3.0 → meaning $3 returned for every $1 spent.
You can also calculate net revenue, which is helpful for nonprofits:
Net Revenue = Total Revenue – Total Costs
6. Compare Activities Side-by-Side
Create a table or summary that shows:
| Activity | Revenue | Cost | Net Revenue | ROI | Notes |
| Grant A | $50,000 | $2,000 | $48,000 | High/$24 | Renew annually |
| Event B | $30,000 | $18,000 | $12,000 | Low/$.66 | Consider replacing |
| Year-End Campaign | $75,000 | $8,000 | $67,000 | High/$8.38 | Expand audience |
💗 Seeing everything visually shows where to double down and what to reconsider.
7. Identify What Worked Well
Look for trends:
- Which activities brought the highest ROI?
- Where did new donors come from?
- Which messages or themes resonated most?
- Which funders were easiest to renew?
- What campaigns grew year-over-year?
- Which investments (software, consultants, ads) actually paid off?
💗 Identifying these ‘success patterns’ allows you to direct your focus.
8. Identify What Did NOT Work
Honesty is key. Look for:
- Campaigns with low donor engagement
- High-cost events with low return
- Grants requiring heavy staff time but awarding small or inconsistent amounts
- Social content that didn’t convert
- Activities that drained staff capacity without significant fundraising benefit
💗 This helps avoid repeating mistakes, or investing in low performing fundraising activities.
9. Capture Lessons Learned
Turn reflections into actionable insights:
- What should we stop doing?
- What should we start doing?
- What should we continue doing?
- What requires improvement, not elimination?
💗 This becomes the transition into Step 2 – Setting Goals – our next article.
10. Summarize Your Findings
Create a 1–2 page summary for the fundraising plan:
- Top performing fundraising activities
- Underperforming activities
- Biggest opportunities for growth
- Threats or challenges encountered
- Key recommendations for the coming year
💗 This summary keeps the full team aligned from the beginning.
In closing…
As you wrap up this first step in your fundraising planning, remember that the goal isn’t just to look backward—it’s to learn. A clear, honest assessment of last year’s activities helps you avoid repeating what didn’t serve your organization and double down on what did.
💗 Here is a simple Fundraising Reflection Template to help you begin your planning. Download and edit as you see fit.
When you understand your true returns, your team’s capacity, and the strategies that genuinely moved your mission forward, you’re better positioned to build a plan that is both realistic and ambitious.
In next week’s article, we’ll dive into Step 2: Setting clear, achievable fundraising goals that guide your strategy for the year ahead.