It’s October 31 - Do you know where your donors are?
Halloween may be fun for the little ghosts and goblins, but for the folks responsible for nonprofit revenue goals, it means getting ready for their busy donor season. This means scouring donor files, reviewing new prospects, and lots and lots of outreach to ensure that you don’t reach year end with a frighteningly low balance sheet. But imagine another terror - a donor approaches you with a fabulous idea for a Giving Tuesday tie in, complete with a hefty contribution and matching donations throughout the day - but you’ve never done something like this and your Gift Acceptance Policy is outdated and you’re scrambling for the right paperwork. Now there’s a real horror story.
According to according to the National Philanthropic Trust, in 2023, 67% of giving in the US came from individual donors - and the majority of that giving takes place during November and December, otherwise known as Giving Season. Whether prompted by end-of-year focus on the tax benefits of charitable giving or inspired by the overall holiday season and prompts like Giving Tuesday, the next 61 days are some of the busiest and most productive for most nonprofit fundraising professionals.
Is your nonprofit ready?
Even if your fundraising team knows who your donors are, it is important to make sure that your entire team is ready to collaborate to ensure that you have the infrastructure in place to support a variety of fundraising opportunities. Every nonprofit hopes for that one-in-a-million funding opportunity to come through, but it is an open question whether the team is ready to quickly and professionally close the deal.
Some questions to think about this giving season -
Does your organization have a formal gift acceptance policy?
When is the last time you reviewed it?
Does it reflect the current state of your organization and your donor base?
Does it give you the flexibility to move quickly and decisively when faced with an unprecedented, but appropriate, funding opportunity?
When is the last time your gift agreements were updated?
Do you have all of the agreements you need to leverage giving season momentum?
Do these agreements reflect your current best practices and allow for flexibility?
Do you have a comprehensive menu of support options for prospective donors?
Has that menu been vetted to ensure it complies with your Gift Acceptance Policy, organizational priorities, and applicable laws and regulations?
Are you able to be responsive and creative with out-of-the-box prospects?
Do you have the legal expertise in-house or in your outside legal team to address these issues quickly and creatively?
If the answer to that last question is “no”, email me today to set up a free consultation about how I can help your nonprofit take your fundraising capacity to the next level.