Last week I spoke about Analyzing Your Fundraising Strategy. Click HERE for that article. Now, is the time to add the finishing touches to your 2022 fundraising plan. While evaluating your strategies, keep the following best practices in mind when planning future fundraising efforts.
Diversified Fundraising
A mix of types of donors requires a variety of strategies to reach these different segments of your donor base. I recommend striving for a combination of donors that closely resembles the national ratio presented by The Giving Institute’s annual report, Giving USA.
In 2020, Americans gave $471,444 billion to charity, which is a 5.1% increase from 2019.
The donor categories are:
· Individuals 69%
· Foundations 19%
· Bequests 9%
· Corporations 4%
These percentages per category have been consistent for many years and your organization would benefit by matching them. Individual donors have given more than all other categories combined, for decades. Individual people are the key group on which to build your 2022 plan. This includes dedicating time to asking for planned gifts such as bequests.
Sustainable Fundraising
Once you know what is working, continue those efforts on a regular schedule. You want to have activities that correspond to each part of the donor cycle.
Identify
Have a system in place to consistently identify and attract new donors. Whether this is a tour program, or a lunch and learn series, have a way to introduce potential donors to your organization.
Cultivate
Next, be sure you have various cultivation activities in place to move donors along to potentially give larger gifts. This is an area where board members can help with fundraising.
Solicitation
Make it easy for donors to support your organization. Links in emails and access to webpages should be easy to navigate. Remittance envelopes should clearly state what their gift supports.
Stewardship
Building a sustainable fundraising model means you have a balanced focus on all aspects of a successful development department. Good luck!
Cheers,
Michelle Crim, CFRE
Dynamic Development Strategies can help. We offer coaching, grant writing, and fundraising services for our nonprofit clients. We specialize in small to mid-size organizations because we understand your challenges. Please contact us for more information.