The term “wealthy” is relative, but what you REALLY want are Board members who are 1) excited to tell the story of your cause and your organization; 2) surrounded by a large and diverse set of friends and colleagues; and 3) able to give time and “mind share” to your organization.

If several of your Board members have these attributes – excitement to tell your story, a large number of friends and colleagues, and time and mind share to give your cause – and are alsowealthy in financial assets – all the better. It’s possible that these financially wealthy Board members will have more ties to others who are financially wealthy, especially if your organization is located in an urban area. If you are located in a small community or a rural area, everyone tends to know everyone, and needing introductions to prospective major donors is less of an issue.

A word about the “peer giving” relationships that some feel are critical to Board fundraising: If your Board members are giving as much as they can personally, they can feel confident in helping others to give at the level they are able, which may be much higher. It’s not to say that having one or more major donors on your Board is a bad thing – it’s most likely a good thing, but it’s best if these donors are also wealthy in the other ways I mention above.