Ask a development director how their endowment is doing, and they'll usually tell you about performance: the latest return, how the market's been treating the fund, what the investment committee said last quarter.
It's rarer for them to mention the donors they are stewarding and prospecting to support this long-term initiative.
Once an endowment is established, many nonprofits shift into maintenance mode. The fund exists, it's invested, and growth becomes something the market handles rather than something the fundraising team actively pursues. But an endowment doesn't have to grow through investment returns alone. It can grow because donors keep choosing to grow it. One of the keys, however, is knowing who to ask and how to have that conversation.

