Here are a few things to consider to strengthen your strategy for individual donors:
Pay attention to generational differences. Studies show that younger donors have different giving preferences than those of older generations. Take into account these differences and tailor your language and their giving experience accordingly.
Many donors today are motivated to give to a cause rather than an institution. Thus, how does your organization promote its mission as cause-based? Differentiating your mission as a cause will also increase the opportunities for outreach and engagement with your donors.
Reflect on the composition of your top prospect lists. Examine key questions about age, demographic, racial diversity, and gender when attempting to increase engagement with a diverse audience.
More foundations are now considering general operating requests, though these grants remain uncommon. While this has long been championed by nonprofit advocates, the shift was accelerated by the urgent conditions created by the pandemic. Consider the following when determining whether your organization is taking advantage of opportunities for operating support from foundations:
Assess your current foundation grantors for their willingness to provide general operating support, perhaps in the place of the restricted support they have been granting.
Have open and honest conversations with your current and prospective foundation funders about the importance of operating grants to your organization. While foundation leaders are likely talking about this with their peers, they cannot know the true value of such grants to your organization unless they hear it directly from you.
The future of bequest and planned giving is bright for organizations that begin to position themselves now for future success. Developing bequests and other forms of planned giving is a long-term process - you can start by initiating conversations about mission and vision with your donors.
Qualified Charitable Distributions (QCDs) are an important entry point for large, tax-advantaged giving strategies. Educating your donors about QCDs can generate positive long-term results for your organization and act as a good starting point for conversations with donors. More than half of all QCDs come from repeat donors, so investing time to educate your donors about QCDs can have substantial potential for cultivating long-term donor relationships.
Bequests and planned gifts require time to mature, so starting now is important to position your organization for future success. By sharing your passion for your mission and future of the organization, you can help donors build their vision and legacy with you.