The Annual Giving Exchange

Walter Cronkite, who died the other day at the age of 92, was truly an icon.  I watched the media coverage of his life with curiosity.  On one hand, it’s interesting to watch a community (in this case, the media) honor their own.  But I was also struck by what “Uncle Walter” represented to an entire generation.  Referred to as “the most trusted man in America,” Walter Cronkite embodied something that many would argue has been lost in today’s media – trust.

Trust can be a nonprofit organization’s most valued asset.  But it’s fragile.  Trust has no recipe.  When it’s damaged, it’s nearly impossible to repair.

Trust isn’t guaranteed simply because you are a nonprofit organization.  It needs to be earned by providing the community with a benefit that the government or market can not.

Trust isn’t lost simply because you have a $10 billion endowment.  It’s lost when you don’t explain to your entire community how an endowment works and what long-term benefits it can provide.

Trust isn’t broken simply because you charge $40k for tuition, a procedure, or an experience.  It’s broken because you don’t return something worth more than that to those who paid the bill.

Trust isn’t destroyed simply by asking for money.  It’s destroyed by not explaining why you need private support, by not investing donations wisely, by not showing your community the impact of philanthropy, and by not saying thank you.

What are you doing to build trust in your organization?