The following study seeks to expand and advance stewardship theory in public relations by incorporating tenets of dialogic and contingency theories to propose dialogic stewardship. Given fundraising trends and a theoretical shift in public relations to reconsider relational outcomes beyond organizational performance, the study re-centers stewardship on donor preferences and highlights the need to co-create stewardship strategies with donors to nonprofit organizations. After defining dialogic stewardship and how it helps to address “negative spaces” in donor-nonprofit relationships, the study puts forth a measurement model incorporating donor perspectives by using quantitative scale development processes. Analysis suggests dialogic stewardship consists of five dimensions: Reporting on Responsibility, Strategic Recognition, Organizational Values, Financial Management, and Engagement. The conclusion explains how these dimensions build public relations theory by deliberately bringing stewardship and dialogue together.