Cryptocurrency coins

Deep Dive into Cryptocurrency for Nonprofits

Cryptocurrency coinsI’m sure you’ve wondered about this: Should we be accepting cryptocurrency?

You may not want to be thinking about this.

But now that there are actual payment processing platforms (e.g., The Giving Block; engiven; Crypto for Charity by Freewill and Charitable Solutions, LLC) and at least two nonprofits serving as cryptocurrency wallets (every.org and givewell) dedicated to helping you with this, the time has come. [You can compare some of the platforms and wallets here; new ones are springing up.]

Opportunity is knocking. Will you open the door?

Changes in Major Gift Demographics

Here are some of the trends:

  • Dollars being given are moving from middle class to wealthy donors (especially from Boomers to Millennials).
  • Fewer donors are giving larger impact gifts. There’s a lot of money out there[1], and if your charity is savvy enough to attract it, you’ll likely find your donor distribution shifting. The Pareto 80-20 Principle is more 85/15, 90/10 or even 95/5.
  • More comes from appreciated assets than cash (stocks, bonds, land and cryptocurrency).
  • The availability of crypto for giving has spurred new waves of younger people to consider philanthropy.

Profile of Donors Holding Cryptocurrency

Of course, there’s no way to know for sure which of your donors hold crypto.  But we do know some things.

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Gala event room

Top Proven Nonprofit Fundraising Event Planning Tips

Gala event room

In my last article I offered a compendium of common sense event planning advice. It centered on the wisdom offered to Alice by the Cheshire Cat when she asked which road she should take:

“Would you tell me, please, which way I ought to go from here?”
“That depends a good deal on where you want to get to,”
said the Cat.
“I don’t much care where–” said Alice.
“Then it doesn’t matter which way you go,” said the Cat.

— Alice in Wonderland

Your direction and goal is important. Once you settle on the goal, then you’re able to pick the best road to take you there.

Hopefully you read the previous article, determined an event was your best strategic option to reach your primary end goal, and now you’re ready to get to work!

What are Some Top Planning Tips to Invite and Ignite?

Do these four things:

1. First you want people to come. 

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Gala event reception

Common Sense Nonprofit Event Planning Advice

Gala event reception

Let’s begin with the Big Kahuna piece of advice: Ask yourself WHY you want to do this event.

Were you to bring your event proposal to a wise shaman or mentor, this is the question they would ask you first – well before asking what theme or format you have in mind or what color scheme you want to use!

And yet this is the one question I find nonprofits failing to ask.  Somehow staff and boards alike think events are simply an inevitable part of the diversified fundraising mix.  Or maybe even the primary way to generate awareness and funds.

Events are neither inevitable nor primary. They are merely a means to an end.

And since they are extremely resource-intensive, it’s critical to think long and hard before embarking on a strategy that could potentially derail other more lucrative and cost-effective approaches.

Events have their place, to be sure; it’s up to you to put them in their place. You must take charge, lest they take charge of you!

What is Your End Goal?

You don’t buy a drill because you need a drill. More likely, you need to create a hole. Maybe the drill will do that best or, perhaps, there’s another more effective tool. It depends on the size and purpose of your desired hole. The same is true with nonprofit special events.

You don’t create an event for the sake of having one (no matter what one or more board members think would be swell.).

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Homeless man and donor on street

Why Smart Nonprofits Focus on Growing Monthly Giving

Homeless man and donor on streetFor at least the past five years I’ve been actively encouraging nonprofits of all stripes to begin or ramp up their monthly giving program. It made sense then. It makes even more sense now.

Why?

If there’s anything the past couple of years have taught us, you need a dependable source of income in order:

  • To be able to sustain programming for problems that never go away
  • To be able to weather current storms, anticipated and unanticipated, and
  • To be able to plan for the future.

It turns out there’s nothing as dependable as monthly donors.

In fact, donors who give to you recurrently sustain you so well a monthly giving strategy is often called a sustainer program.

Do you deserve a group of people who will sustain you through thick and thin?

Of course you do!

But you don’t always get what you deserve – unless you make it happen.

How to Make Monthly Giving Happen

As someone poetic so eloquently put it:

“Nothing will work unless you do.”

— Maya Angelou

There are four steps to a successful monthly giving work plan:

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Handstand

How to Craft a Nonprofit Board Orientation Strategy

HandstandOrientation matters; otherwise, everything can become unbalanced and out of whack.

Please don’t leave your new (or old for that matter) board members dangling!

Being a board member is not something we’re generally taught. In fact, it can be a complete mystery. Folks feel proud to have been recruited to join your board, and excited to begin their service, but… what happens next can mean the difference between a fulfilling experience and a disappointing one.

Do you have a board orientation strategy?

I don’t just mean in a dusty handbook somewhere on a shelf or in a file no one can find. I mean a vibrant orientation approach that kicks in the moment your board candidate says “yes” and, subsequently, as soon as they’re voted in by the full board.

Recruitment is just the tip of the iceberg of building an effective board.

It’s an important “tip,” don’t get me wrong. And all too often it’s handled poorly, leading to nothing but problems down the line. One of the most common complaints I hear from nonprofit staff is their board won’t help with fundraising. And the most common reason is the board members tell me: “I wasn’t told I’d have to help with fundraising,” or even worse “I was told I didn’t have to fundraise.”  Don’t put yourself in this bait and switch mode.

From the get-go, explain to prospective board members what’s expected of them.

All should be involved in some way in giving and getting. Once they sign on, solidify this agreement and their critical role as ambassadors, advocates and askers during the orientation process. Most board members are good people who genuinely want to help. They just need your support and encouragement along the way.

What to Include in a Board Member Orientation

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3 people with marching orders

3 Ridiculously Easy Strategies to Boost Fundraising by 27%

3 people with marching orders I’m excited to share three easy tips with you, and the results are measurable.  Do these things and you’ll be able to tell if they impact your bottom line!

I was inspired to share these ideas with you based on a 2019 study by NextAfter and Kindful looking at how organizations are cultivating donors via email. They found plenty of data-driven ideas that can improve donor retention and boost online fundraising revenue — by as much as 27%!

Think about how much an increase like that could mean for your organization!

That’s right!

Make way…” for these ridiculously easy, revenue-boosting strategies!

If you raised $100,000 last year, you could raise $127,000 – or more – this year.

And that’s without having to apply for a new grant, hold a new fundraising event or even ask for a new major gift or two to reap these rewards.

All you must do is simply pay a little more attention to your follow-through communication with donors.

Did you know most of the top reasons donors give for not renewing their giving have to do with how you do/don’t communicate with them after they make a donation?– or fail to personally, meaningfully and promptly communicate.

Meaningful, regular donor communication can hugely impact your bottom line.

To make a demonstrable difference in donor behavior, however, your communication strategy must tick more than one box. It must be prompt, personal and relevant to what your donor cares about and how they want to hear from you. Don’t just guess what your donors might like from you. Ask them!  In fact, surveys, social media queries, online quizzes, solicitations for comments and feedback are all wonderful ways to communicate digitally in a manner that personally engages your supporters.

Never forget: The best fundraising is personal.

So… what are you waiting for?

Here are three strategies revealed by the research: 

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Fundraising Do's & Don'ts logo

Fundraising Do’s vs. Don’ts: Monthly Donor Appeal Strategy

Fundraising Do's & Don'ts logoHere comes my occasional “Do’s vs. Don’ts” feature, where I share with you something arriving in my mailbox that seems a good ‘teaching opportunity.’

Today we’re going to review a monthly donor campaign strategy.

It arrived as an email. There’s (1) a subject line, (2) the email itself, and (3) what happens if/when you click through and are transported to the donation landing page.

We’ll take a look at the various elements; then assess what works/doesn’t work.

I’ll ask you some questions.

  1. Would you open this email?
  2. If yes, why?
  3. If no, why?
  4. What looks good about the email?
  5. What looks not so good about the email?
  6. Would it inspire you to click through?
  7. If yes, why?
  8. If no, why not?
  9. Once you click through, would you be inspired to take action?
  10. If yes, why?
  11. If no, why not?

First, I’d like you to think about your answers and jot them down.

Second, I’ll tell you what I think.

Third, if you disagree with me please let me know in the comments below.

Really take the time to notice what you like and don’t like.

I promise you’ll learn a LOT more this way. We learn best by doing.

Seriously, I mean it.

Let’s begin at the beginning.

Subject Headline

Claire, here’s a simple way to do your part to repair the world.

This may help: Take three minutes and jot down your answers to the first three questions on a piece of paper or your screen. I want to know if what was in the subject headline would have caused you to open the email or hit ‘delete.’

Okay.  Ready to learn what I think thus far, and also see what else we’re working with?

Let’s begin!

Does this Email Say “Open Me?”

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Flexible worker

How to Keep Nonprofit Employees Longer with Flexibility

Flexible workerIn my last article I talked about providing employees with praise, recognition and meaningful feedback in order to retain staff and build the type of job satisfaction and longevity that creates a sustainable nonprofit.

For nonprofit fundraisers, the “Great Resignation” was happening long before the pandemic. In fact, per Penelope Burk at Cygnus Applied Research, the average amount of time a fundraiser stays at his or her job is just 16 months.

“Oh, well” you say?  “No big deal” you say?

Need I remind you fundraising is a relationship-building business? Relationships happen people-to-people, not people-to-institution.

All that work I’m constantly exhorting you to do to personally nurture, reward and develop bonds with your constituents as you support them on their donor journey matters.

You can’t afford the typical nonprofit staff turnover, and you need to do whatever it takes to make working for you a positive experience.

Lose a Fundraiser; Risk Losing a Donor Relationship

Fundraiser turnover results in the ongoing work of reporting back, asking for feedback and offering praise getting abridged or abandoned altogether. Trust me, this is a genuine real world concern. I work with countless nonprofits, and staff turnover leads to downgraded and lapsed gifts. You may think this won’t happen to you, but it will. When a donor doesn’t get the meaning they need, they drift away to other causes offering them a better return on their engagement. Don’t blame the donors; it’s just human nature to want to feel connected to other human beings.

And don’t make the mistake of thinking you can’t afford to keep your fundraiser by providing a better salary and other benefits, such as additional vacation time. Penelope Burk surveyed 1,700 fundraisers and 8,000 nonprofit chief executives, and found it would cost just $46,650 to keep a good fundraiser happy.

The direct and indirect costs of finding a replacement are $127,650. Hmmn… being pennywise and pound-foolish is not what I would call working smart.

Employee retention costs a fraction of employee recruitment, training and on-the-job learning. So seriously consider what you can do to work a lot smarter by treating your employees like the true treasure they are. As noted in my last article, a decent salary matters. I’m all for offering living wages! But many more things than money are motivators.

It’s time for a closer look at how flexibility in the workplace will help you shine.

Retain More Nonprofit Employees by Being Flexible

A recent guest essay in the New York Times,

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Awesome/Less Awesome Sandwich Board

Key Strategies to Praise, Recognize and Give Meaningful Work Feedback

Awesome/Less Awesome Sandwich BoardI confess this is something I struggled with in my 30 years as a manager.

I had a boss who excelled at pinpointing weaknesses, and I learned a lot from her. [Plus, my mother was pretty good at this too – but we don’t have all day here.]

Ironically, this same boss told me ad infinitum (whenever I wanted to give someone a raise), that money didn’t really motivate people. All sorts of other things mattered more, including work environment.

At the time, I didn’t really believe this. I was constantly advocating for well-deserved raises because I thought it was the best gift I had to offer. And, by golly, it seemed like the right and fair thing to do! She told me resources were limited, and the satisfaction from a raise is fleeting, compared with things like greater authority, autonomy, praise and recognition.

You know what? She was right about what is most meaningful to employees in a workplace.

Because as much as the people who worked for me enjoyed a good raise, they complained a lot more about lack of advancement opportunity, responsibility without authority, a top-down infrastructure, lack of job fit, unrealistically high expectations, shortage of support and an overall stressful work environment.

If money is really bad, of course, it will get in the way.  However, it’s worth noting money is only fourth among the top five reasons people cite for leaving a job. In fact, the preponderance of research into the value of money as a motivator notes it is a motivator up to a certain point; once folks reach that level, more money has a negligible impact on their satisfaction.

[Background: I was fortunate during my career not to work at places where folks were expected to buy into the “starvation cycle” mentality and live below minimum wage. Where I worked, people generally were fairly and well-compensated. Sure, they’d likely tell you they wanted more money.  But this was not the reason they left.]

“In a nutshell: money does not buy engagement.”

Tomas Chamorro-Premuzic, author, Why Do So Many Incompetent Men Become Leaders? (and How to Fix It)

Employee engagement is a product of overall work environment (culture) and specific management support (feedback, praise and recognition).

Begin with an Engaging Work Environment

A huge part of what employees will describe as “work environment” has to do with meaningful engagement, or lack thereof. And there are two ways to promote this engagement:

  1. Develop a broad, organizational culture of philanthropy [See here, here, here and here.]
  2. Develop a feedback system incorporating authentic praise, recognition and focus on strengths, not weaknesses.

I talk a lot about the former. Today I’d like to hone in on the latter.

Because… for engagement to stick, the two types must go hand-in-hand.

In fact, research reveals

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Ukraine in the palm of a hand

Don’t Be Out of Tune on Ukraine

Ukraine in the palm of a hand

The fate of the world is in all of our hands

 

It’s out of tune when you fail to even acknowledge that which is top of mind for you constituents.

At any point in time.

For the last couple of years it was Covid. All the time.

At various points it was also a range of issues related to diversity, equity and inclusion, justice, law and order, or the lack thereof, individual rights and freedoms and, of course climate, including hurricanes, tornadoes, fires and droughts.

Right now it’s helping Ukraine and its people.

Whenever people are suffering, for whatever reason, it has a huge impact on the human psyche.

And when it’s in the news, that suffering and impact is hugely amplified.

People want to stop the pain.

If you can help people do that, they will be grateful to you.

How Can You Help People Now?

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