Category: Fundraising
Boyd's blogs about fundraising
- There is an indirect way to inform others of your ministry calling and financial needs. It is an incremental approach that allows those of us who are more introverted to stick our “big toe” into the fundraising water. Some of the responses we get may be chilly, but the warm ones provide a good entrée for further discussions about someone’s potential for serving as a financial partner. The Apostle Paul describes this partnership in Philippians 1:4-5, “In all my prayers for all of you, I always pray with joy because of your partnership in the gospel from the first day until now.” Follow Paul’s prayer, and you will fundraise well.
- Once a quarter, consider mailing a letter (email is an option, but you may lose some uniqueness) to potential financial partners with these elements:
- 1. Brief opening paragraph of 3-4 sentences thanking and affirming the recipient
- 2. Short second paragraph describing the purpose of the letter
- 3. To-the-point third paragraph inviting them to pray about serving as a financial
- partner for 12 months (a closed-end commitment is more attractive and invites
- broader participation)
- 4. Succinct last paragraph describing the next steps of your call to them in 7 to 10
- days for a follow up coffee or lunch
- 5. Conclude with thanking them for their prayerful consideration
- During the follow-up phone call, first confirm that they received the letter and then ask how they are doing. Thank them for their time, and inquire if it is appropriate to talk briefly about a personal visit. Listen for buy signs like, “Yes, your ministry sounds very interesting, and I would like to hear more.” But a closed door may sound like, “Now is not a good time since we just move my wife’s mom into a retirement center, and we are covering her living expenses.”
- In the second case, make sure you communicate your understanding, listen to how the transition is going for everyone, and offer to pray with them over this new season of life. If you hear any openness to next steps, offer 2 or 3 date options, and ask what works best. Typically four of the eight people you call will agree to meet in person; three of those four will likely give.
- Who are ten people I can reach out to with a fundraising request?
- Tom Ahern is the author of The Mercifully Brief Real World Guide to Raising More Money With Newsletters Than You Ever Thought Possible, another in the series of Real World Guides by Emerson & Church (2005, $24.95 U.S.).
- Research has shown that donors like to receive newsletters; the problem is that they are not always read. Author Tom Ahern says this is because so many newsletters are simply not interesting.
- Ahern has identified seven fatal flaws that nonprofits continually commit when they prepare their donor newsletters. Catch these flaws, correct them, and see how your newsletters finally do their job of keeping donors informed, enthusiastic about your cause, and writing checks for the long haul.
- Ahern's seven fatal flaws form the skeleton for his very useful book.
- H. King McGlaughon, Jr., of Wachovia Wealth Management, made two important points in a recent webinar:
- The number of households that have $1 million has increased from a mere 3.5% in 1989 to 10% of households today. McGlaughon called these the "silent millionaires." They don't act rich or consume conspicuously, but they do believe in giving back to society.
- High net worth donors are younger than ever. Thirty-four percent of HNW donors are 65 plus years old. Sixty-two percent of HNW donors are between the ages of 37 and 64.
- Nonprofits often assume that large donors will be older and so overlook the many younger HNW individuals our economy has created in recent years. Read more about the characteristics of younger HNW donors, according to McGlaughon's study.