When organizations aren’t raising as much money as they need, they’ll often tell me: “We need to recruit new board members.” This is very often true, but it’s only a piece of the puzzle as to why they’re not being successful with fundraising. So if you’re about to embark on some board recruitment, I…Details
If you’ve been around ten years or more, and have demonstrated you have staying power, it’s time to start thinking about promoting legacy giving. And not just a little. A lot.
Even during a pandemic. Why?
Because once you have a steady stream of legacy gifts maturing, you’ve secured your nonprofit’s future — in good times and bad. Not 100% of course. You’ll still need to continue with annual fundraising. But you’ll be confident in the knowledge that every year or so unanticipated income will flow into your nonprofit’s coffers, like a windfall from heaven. In fact, after a while you’ll even be able to conservatively budget for a certain amount of bequest income (based on your averages) each year.
Legacy gifts can be quite transformative for the financial trajectory of your nonprofit. Think about this for a minute. While not every bequest will be six or seven figures, it’s rare to see a two or three figure bequest. They’re all major gifts!
Except… legacy gifts won’t usually fall from the sky unless you seed the clouds.
So let’s take a look at how to do that.Details
I love a good celebration.
And nothing is more worth celebrating than a holiday, and your donors!
So… let me wish you a happy Groundhog Day! Whether or not the groundhog sees their shadow, chances are good we’re still in for a long season of time during which donors could really use a little extra love from you. As I’ve written before, during this season of isolation and uncertaintly, people — your donors included — are love starved.
You’ve still got time to send a little love your donors’ way!
Why might this be something for you to consider, amidst all the other “to-do’s” on your plate?
If you don’t do a lot more donor loving, you’re going to do a lot more donor losing.
I hope by now you know donor retention is the name of the game. It costs so much more to acquire a new donor than to keep an existing one. Yet too few nonprofits have serious, intentional donor stewardship programs in place. Because of that, on average, nonprofits lose nearly 8 out of 10 first-time donors and close to 6 out of 10 of all donors.
Don’t be one of those organizations!
If donors only hear from you when you want something from them, they’re not likely to give more. Or even give again.
Be generous! Show donors how much their support means to you.
Really, donor love should be like breathing for you. In and out. Out and in.
- They love you, and show you.
- You love them, and show them.
You’ll be amazed at how a little love can go a long way.
This year why not dedicate Valentine’s Day to giving, not asking?
If you can’t send valentines to every donor, pick a segment or two.
Think about those donors for whom you’d like to show some special love, because they showed you some. Show them you noticed! They could be:
- Major donors.
- Monthly donors.
- Donors who’ve given faithfully for five years or more.
- Donors who increased their giving this year.
- First-time donors of $100+.
- Donors who also volunteer.
- Board and committee members.