The end of the year is a time of hindsight and anticipation. For fundraising events, especially those responsible for planned giving, remember everything you didn’t do and anticipate everything that needs to be done before December 31st.
Helping your donors meet the December 31 tax deadline means you can plan to stay longer and do more than just about everyone else except your office gift processor. So plan a nice break in January (isn’t there a donating conference planned in the Caribbean then? There should be …) and get ready for the end of the year sprint.
First of all, let’s talk about your donors and your organization …
I guess your organization is not willing to spend a lot of money this year. Not that they have cash to raise funds at any time, but this year’s economy has your boss looking for ways to be more productive and less expensive. Let’s go with that.
I also assume that, along with your organization, your donors don’t feel particularly wealthy either. As in any recession, this is only partially based on facts. Most of our “feeling of poverty” is just that, a feeling. But let’s go with that emotion, because that’s what you’ll be dealing with when you’re out there.
However, these same donors who feel poor are likely to be your most loyal donors. This is because your best-planned gifts are not those that also fall into the category of “major gifts”, but rather those that fit more closely to a middle-class profile. These are the ones who have been giving $ 25, $ 50, or $ 100 year after year. They love you and are likely to help you in the long run.
So with all of this going on, what can a nonprofit do this year when it wants to do a year-end “push” for planned giving? Let’s look at some options …
- Start “dialing for dollars”. Just call and say “thank you”. Make a list of your most consistent and loyal donors (remember, not the largest, you more consistent) and calling them goes much further than sending them a Christmas card. Yes, it will take some time, but especially if you are dealing with an older population, but your voice is greatly appreciated. Don’t ask here, just say thank you, happy holidays and maybe ask why they support you so well. This is a true Christmas donation, plus you can get some great testimonials to use in posts and other marketing programs. (A must read is the story of a neglected donor,(You had me as a legacy!)
- Stay on those phones. Has anyone even remotely expressed interest in a lifetime income arrangement (a charitable trust or donation annuity) or other planned gift during the past year? If so, call them “just to check” if they will have to do anything before the end of the year. Tell them (and even better that it is true) that you are trying to plan your work so that you can help everyone in need before December 31st. Between calling your loyal donors and your prospective planned giving donors, and the resulting work – You can fill in your calendar by the end of the year quite well. But if not, keep reading …
- Consider an end-of-the-year email. If you do this, focus on the easy and inexpensive ways to make a planned gift. That means bequests and assignment of beneficiaries of insurance, retirement plans, and bank accounts. Why? These are the easiest and least expensive way to fund your charity through a planned gift. A bequest only costs the donor the fees to communicate with their attorney, which could be happening anyway. (Remember to have the legacy text ready in case it is needed). Insurance policies, retirement plans, and bank account beneficiaries only require filling out one form. All of these are relatively easy to do and require little to no money out of pocket.
- Many organizations have mission-focused, vacation-related events that are great growing activities. If you have an inherited partnership (an “Inheritance Club”), or even a list of the people who have it in their will, invite them! For schools, this could mean an end-of-the-year theater production. How about a New Years bird count or helping care for the homeless on Thanksgiving? Don’t be afraid to invite your donors to events they can participate in, not just watch. Being a part of the mission strengthens their relationship with your organization and provides them with memories for years to come (even when they are with their attorney, writing their will).
- Update your gift acceptance policies (of course you do, right?). This may seem strange, but in preparation for year-end work, I would update your gift acceptance policies to state that outside of marketable securities, cash, and credit cards, all gift receipts must be approved by your Board of Trustees if donated after December. 15. Why? Because charities get into bigger trouble when faced with last-minute, high-pressure financial deals, especially those dealing with illiquid assets like private property stocks, real estate, and donations in kind. Don’t be that nonprofit that took over the beautiful meadow on December 29 and discovered on January 3 that it was a toxic waste dump. Being able to pinpoint an approval process is healthier for your charity and your career, regardless of whether you are missing the “deal of your life.”
Once you’ve done all of this, plan to stay, or at least be approachable. I’ve had a few very boring weekends and a few that came off the end of a fire hose. It is not known which one will be yours, but one thing is for sure: if you take the last week and turn off the cell phone, when you return, you will surely hear from the security guard “someone was here asking for you, but they said that the charity of the street would be just as good. ”
We are looking forward to a busy and fruitful end of the year and a pleasant and relaxing vacation in January!