Steps to Success at Year End
Submitted by webmaster on Tue, 11/29/2011 - 12:47
It’s no secret in the fundraising world that November and December are two very important months of the year. Many organizations raise a significant portion of their total donations in these two months alone.
Yet there are signs that fundraising this year-end will be a challenge. Donors report high anxiety, and surveys indicate donors plan to give less this year. Of course, only time will tell. But clearly this is not a time to take donor support for granted. Here then are four key steps to shore up your year-end fundraising efforts:
Step 1: Ask. Donors will give more if you ask than if you don’t. And remember to ask all your current donors – even if they gave a gift in October. The donors most likely to respond to your funding appeals are those who gave most recently. If you ask again, appropriately, your core supporters, the ones who love your organization and what you do, will give again. Also consider the following:
• Offer a matching gift challenge in your year-end appeal. A 1:1 match is a powerful incentive for donors to give. It can be even more powerful with a meaningful deadline (such as December 31!).
• Follow up. Send a second note, a reminder, that there’s still time to give before year-end. Be sure to include disclaimer language to thank the donor if their gift and your reminder have crossed in the mail.
• Integrate email. While email typically is more of a cultivation or stewardship tool, use email at year-end to ask for a gift. You can even send a reminder or two as December 31 approaches.
• Keep your website current. The home page should contain a picture (or video) supporting your year-end appeal, with easy link(s) to the giving page.
• Use a personal touch. Send your top donors a personal, hand-signed letter from your Executive Director or CEO, and mail it first class so it arrives between Christmas and New Years.
• Speaking of postage … stamp the reply envelope. That’s right, put a live, first class stamp on the reply envelope. The donor won’t want to throw it away. This investment in postage will pay dividends in increased giving. Just don’t over-use the strategy.
Step 2: Offer other ways to give:
• Invite multi-donors to establish a Charitable Gift Annuity (CGA) at year-end. Call your donors to offer this opportunity. CGA’s give the donor the benefit of both a charitable deduction AND regular payments for life. If a CGA is established before December 31, the charitable deduction is applied this year.
• If you accept gifts of stock, remind your donors. Giving appreciated securities can lower a donor’s tax burden.
• Do your donors know about IRA Rollovers? Through the end of 2011, IRA owners age 70 ½ or older can make tax-free distributions of up to $100,000 from an IRA to a qualified charitable organization.
• Remind your donors to talk to their professional legal and tax advisors about any of these options.
Step 3: Don’t forget stewardship and cultivation!
• Thank your donors! In a timely and appropriate manner. If the donor gave online, send an immediate email. If given through the mail, strive to turn around a receipt and thank you letter within 48 hours of receipt. Also consider calling your donors just to say “thank you!”
• Say thank you again. It’s impossible to overstate how important timely and appropriate gift acknowledgement is for building donor loyalty. This is especially difficult at year-end when the volume of gifts is higher. Don’t offend your donors by missing something as simple, yet meaningful, as saying “thank you.”
• Report back to your donors. What is happening with the program or service the donor chose to support? Generally speaking, donors want to know what your organization is doing with the funds they’ve given you. So, tell them! Send an email, make a phone call, or send a letter or newsletter through the mail. Make this a priority.
Step 4: Don’t forget about January and February (and the rest of 2012!)
You’ve just spent a lot of time and energy working the year-end plan. But don’t forget about January and February. These can also be very strong fundraising months. Make it a habit to cultivate, solicit and steward your donors into and through next year.
What are you doing at year-end? Send us your ideas and success stories by commenting below. We look forward to hearing from you, and we wish you success!
Danielle Ward
Account Supervisor