EP 82: Building Diversified Donor Portfolios with Audrey Cooper

In this episode of The Responsive Lab, host Scott welcomes Audrey Cooper, Associate Director of Philanthropy at Evidence Action, to discuss the strategic importance of building diversified donor portfolios. Audrey shares her journey in nonprofit development and explains how Evidence Action—fully privately funded and having raised over $60 million—has prioritized revenue diversification to ensure long-term sustainability. She emphasizes that diversification isn't just about spreading risk, but about enabling mission impact by reducing dependency on any single funder. Key themes include the psychological shift required to embrace boldness in fundraising, the importance of investing in new donor acquisition even with low short-term ROI, and the need for data-informed strategy to set realistic goals. Audrey also addresses the challenge of securing unrestricted giving by reframing it as 'impact costs' and outlining four strategic uses for unrestricted funds: catalytic opportunities, innovation, sustainability, and operational strength. She advocates for integrating data and storytelling in donor communications, using layered content to engage both analytical and emotional donors. Practical advice includes focusing on a few high-potential opportunities and following them through to completion—what she calls 'fundraising sprints'—to build momentum and proof points. Finally, she highlights how technology and AI are enhancing operational efficiency and scalability, even in organizations without large retail fundraising bases. The episode closes with a powerful reminder: fundraising is not about asking for help, but about inviting donors into a shared mission as partners.