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CFRE Final Exam Questions & Answers 2024/2025
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CFRE Final Exam Questions & Answers 2024/2025 Philanthropy - ANSWERSvoluntary action for the common good... - Robert L. Payton, as quoted in Greenfield's Fundraising Fundamentals Number of nonprofits registered with IRS - ANSWERSUS: 1.4 mil; 63% registered as 501c3... 161K in Canada Dono...

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  • August 5, 2024
  • 44
  • 2024/2025
  • Exam (elaborations)
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CFRE Final Exam Questions & Answers
2024/2025

Philanthropy - ANSWERSvoluntary action for the common good... - Robert L. Payton, as quoted in
Greenfield's Fundraising Fundamentals



Number of nonprofits registered with IRS - ANSWERSUS: 1.4 mil; 63% registered as 501c3... 161K in
Canada



Donors give for the following reasons - ANSWERSmoral obligation to help... personal satisfaction of
helping others... to remove guilt for not giving... to maintain/improve social status... peer pressure...
compassion/empathy... personal identification... self-interest... religious influence... need to be needed...
substitution for active participation... support for mission and purpose... personal relationship...
appreciation for mission... evidence of one's success... to express anger, or love, or hope... to end fear...
out of the cause's appeal... to be remembered... to gain recognition... to join group, sense of
belonging ... to preserve the species... to gain immorality... for psychic self-satisfaction... desire to
provide public goods... to fulfill condition for employment... in response to leadership from peers... to be
agent for public good... satisfaction from seeing others satisfied... tax benefits



giving nearly always implies - ANSWERSsome sort of connection to the org



giving may provide - ANSWERSsome type of return in what the org will do for them or someone close to
them



effective fundraisers seek to discover... - ANSWERSwhat is important to any potential donor, and tap that
need to encourage and support giving. This requires being able to look at the org's mission and programs
through the eyes of the donor rather that from the perspective of those who run the org.



key activities in fundraising - ANSWERSresearch, marketing, relationships, ethics & accountability



Research supports fundraising by - ANSWERSidentifying stakeholders and potential donors, providing
info about stakeholders, ensuring appropriate resource allocation, planning, evaluation, rating
stakeholders for relationship building and service priorities

,Roles of marketing in fundraising - ANSWERScommunicate purpose and activities, promote mission and
case for support, encourage participation in fundraising activities, encourage donations, communicate
fundraising results, advocate the case



Relationships - ANSWERSthe heart of fundraising



Relationships support fundraising by - ANSWERSadding prospects and developing them into
active/regular donors, support other types of contributions, engage stakeholders in the organization,
integrate with research and marketing, allow getting to know prospects and interests, support
stewardship



ethics and accountability ensure - ANSWERSstakeholder trust and confidence, assets are managed and
accounted for data collected and used properly, donor privacy and rights maintained, reporting/other
requirements fulfilled, programs executed as promised, donors are retained



Why research? - ANSWERSensures appropriate resource allocation, helps build staff and volunteer
confidence, adds element of joy an discovery to prospecting



How does Research ensure appropriate resource allocation? - ANSWERSallows staff/volunteers to focus
efforts on prospects who can provide the most good.... Helps in planning how to use volunteers in the
organization (number and types of volunteers needed)



How does Research help build staff and volunteer confidence? - ANSWERSBacked by good information,
the process of cultivation and solicitation has greater chances for success.



How does good Research add an element of joy and discovery to prospecting? - ANSWERSadds
confidence, which eliminates anticipation of prospecting as a chore, makes it more like solving a good
mystery - with whom can we successfully connect? How can we make our case compelling? How much
will they give?



Marketing - a formal definition - ANSWERSthe process of gathering, recording, and analyzing information
pertaining to the marketing of goods and services

,Marketing - a simpler definition - ANSWERSthe process of finding out the wants and needs of current
and potential markets



Rosso's Concentric Circles - outer circle - ANSWERSPeople with similar interests



Rosso's Concentric Circles - at the core - who are these primary stakeholders? - ANSWERSMajor Donors,
Board, Management Staff (these people have the responsibility to bring those in the outer circles closer)



Rosso's Concentric Circles - second to outer circle - ANSWERSFormer Participants



Rosso's Concentric Circles - closes to core - ANSWERSClients, Members, Employees, Volunteers, General
Donors



Critical Factors for a Philanthropy-Friendly Environment - ANSWERSdonor-focused research... targeted
cases, constituents, methods... strategic communications... stewardship - the most important of all



The critical balance - ANSWERSDevelopment professionals must find a way to balance the needs of the
community with the interests/needs of donors and the needs of the organization



Prospecting: the definition - ANSWERSThe systematic acquisition and recording of data that forms the
basis for establishing, maintaining, and expanding the long-term gift relationship, with the ultimate goal
of converting donors into major gift donors (looking for the fundraising gold!)



7 points of constituency development - ANSWERSIdentify fundable projects (part of org's strategic plan
and objectives)... match prospects to projects (use Rosso's model)... Conduct research in ways that are:
thorough and realistic, cumulative and ongoing (keep current), organized, ethical and confidential...
Identify opportunities to involve prospects



What's the difference in a Prospect (suspect) and a Qualified Prospect? - ANSWERSProspect/suspect is a
possible source of support whose philanthropic interests appear to be a match with your organization,
whose ability to give, interests, and linkages have not been qualified via research..... Whereas a Qualified
Prospect is a prospect who continues to qualify as a logical source of support for the organization
throughout a research, evaluation, and cultivation process

, the best research method depends on... - ANSWERSthe org's scope, resources and objectives... and on
whether prospects are individuals, business/corp's, foundations, gov agencies, or other nonprofits



Research methods to consider... - ANSWERSmailed/electronic questionnaires... internet databases... in
person interviews... telephone interviews



Four sources of information for Research - ANSWERS1. Personal contacts (conversations, interviews,
surveys)... 2. Publications/reports (journals, newspapers, directories, magazines, philanthropic
directories, annual reports, corp/foundation community involvement reports... 3. Participation records
(event attendees, program participants, those who inquire)... 4. Public information



information to include in a useful prospect profile - ANSWERScomplete contact info, biographical data,
business history, giving history with your org, cultivation/solicitation contact records, publicly available
giving info from other orgs, sources of info checked for prospect and most recent review dates, general
and specific interests



Research pitfalls - ANSWERSputting off research until you "have time", expecting interns or new
volunteers to know what to gather, sending out cultivation/solicitation teams with incorrect information,
trying to find out everything about everybody



Prospect/donor profiles help you select the right... - ANSWERSright person... to ask the right person... at
the right time... in the right way... for the right amount



Inquiries to use in researching foundations... - ANSWERSis there support for similar agencies?... Does the
foundation clearly state support for the type of project and/or contribution sought?... Is funding
provided in the org's geographic area?... Is the request amount compatible with prior giving history?



Inquiries to use in researching corporations... - ANSWERSare board members affiliated with company?...
Are services used by employees and dependents?... Are current donors/volunteers employed or have
affiliations?... Does the organization purchase company products?... Does corporate interest match
products/services?... are donation decisions made locally or at corporate level?... are needs and
priorities of two entities aligned?

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