A chief financial officer is referred to as a “development director.” The term is most commonly used in the nonprofit sector to describe people who are in charge of managing a nonprofit’s funds and working to raise additional funds. This position typically requires a bachelor’s degree in finance, public relations, or communications, as well as extensive experience working with nonprofits, such as serving as an aide or assistant to a development director.
The role of development director can be challenging. It’s sometimes referred to as “fundraising,” but it’s actually a lot more complicated. While these directors must raise funds and ensure consistent supplies and sources of funds, their job entails much more than that. In fact, some nonprofits have a fundraising director who is not the same as the development director, emphasizing the distinction between the two positions.
Relationship development is the responsibility of development directors for their parent organizations. They work to maintain strong relationships with current donors and friends of the organization, as well as seek out new donors and connections with the potential to increase fundraising. Furthermore, these directors are involved in promoting a positive image for the organizations with which they collaborate, as well as participating in outreach campaigns that encourage people to contribute to and participate in the organization’s activities.
A development director’s responsibilities might include planning donor events, calling donors to maintain relationships, launching mailing campaigns, and responding to donor concerns, among other things. The goal is to cultivate and retain donors, as well as to make them feel good about their contributions and other forms of involvement. This can be a delicate task, especially when working with donors who are known for making large contributions, because donors often have expectations about what they will receive in return for their contributions.
The development director must also consider the most efficient and effective way to allocate funds while maintaining the company’s public image. Nonprofits are frequently accused of being wasteful or frivolous, while also being expected to produce things like glossy quarterly magazines, which can be quite costly to produce. To hit the right note in everything from donor solicitation letters to exclusive private fundraising events, the development director must consider the character of the organization, available funds, and how donors and the public interact with the organization.