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Presentation to the National Association of Automobile Museums. Content is basics of fundraising.
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Restoring Your Fundraising from Jalopyto Roarin’ Hot Rod
NAAM Conference 2012Robert Croft, CFRE
www.slideshare.net/rncroft
7 Easy Steps!
First a Quick Survey @ You
About Me: Car Restoration
Thank Goodness for eHow!
Crandall, Croft & Associates,Restoring Your Fundraising Program
How Did We Survive w/o eHow?
Crandall, Croft & Associates,Restoring Your Fundraising Program
How Did We Survive w/o eHow?
With VIDEO!
Crandall, Croft & Associates,Restoring Your Fundraising Program
How To Manage an Automobile Museum
How Did We Survive w/o eHow?
Crandall, Croft & Associates,Restoring Your Fundraising Program
Session Objectives: Restoration 101
• Overview of Basics of Fundraising• Acquiring New Donors• Keeping Current Donors• Raising Major Gifts• Today’s Goal: Putting It Together in an Annual
Plan
7 Easy Steps!
Step 1: Inspect, Inspect, Inspect
Is this the state of your current fundraising efforts?
Crandall, Croft & Associates,Restoring Your Fundraising Program
Q1: Is Your Garage Big Enough to Raise Big Bucks?
YES! Small shops can raise millions with right tools, determination and effort!
Crandall, Croft & Associates,Restoring Your Fundraising Program
Q2: Are You Truly Committed to Fundraising?
• Starts with commitment from Board– Including leadership giving and participation in
fundraising activities• CEO Actively Involved in Fundraising– Who is primarily responsible?
• Culture of Philanthropy• Volunteer Fundraisers– Volunteers make the best fundraisers!
Q3: Evaluate Your Current Fundraising?
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool: Conduct a Development Audit
• An internal assessment of your overall fundraising program
• Examines governance, human capital, development systems, procedures, donor relations and fundraising approaches
• It is an essential tool to measure the gap between an organization’s current fund raising efforts and established best practices in the industry
Crandall, Croft & Associates,Restoring Your Fundraising Program
What an Audit will Accomplish:
Identify areas of strengths in fundraising
Identify areas of weaknesses in fundraising
Identify current giving patterns and donor preferences
Provide clarity on areas for improvement
Audit Resources:www.slideshare.net/rncroft - Detailed Presentationwww.guymallabone.com/resources - Audit Tool
Crandall, Croft & Associates,Restoring Your Fundraising Program
Fundraising Review Questions
• Is the fundraising program diverse?• Are fundraising efforts systematic and
consistent?• Are we utilizing established industry “best”
practices?• What approaches work best for this
organization?
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 2: Repair the Frame: (Fundamentals of Fundraising)
Pyramid of Giving
16Adapted from James M. Greenfield, Evaluating and Managing the Fund Development Process,
2nd ed., New York, NY: John Wiley & Sons, 1999.
The Art of Fundraising is a systematic effort to move individuals up the pyramid of commitment
Estate Giving
Major Giving
Special/Major Giving
Repeat Annual Giving
First-timer Annual Giving
Level of Relationship
Interest
Committed
Crandall, Croft & Associates,Restoring Your Fundraising Program
Your Job as a Fundraiser
• Cultivate and deepen relationships• Utilize effective fundraising practices• Maintain the highest ethical standards
17
Crandall, Croft & Associates,Restoring Your Fundraising Program
Why Do People Give?
Crandall, Croft & Associates,Restoring Your Fundraising Program
Affluent Donors – BoA 2010 Study
• Top motivations for giving were: – Being moved by how their gift can make
a difference (72%).– Feeling financially secure (71%).– Giving to an organization that will use their
donation efficiently (71%).– Supporting the same causes or organizations
annually (66%).
2010 Bank of America Merrill Lynch Study of High Net Worth Philanthropy
Connection to Mission
Crandall, Croft & Associates,Restoring Your Fundraising Program
Check Your View of Fundraising
• “Begger” or “Enabler”?• Giving is an Exchange of Values:
– “One way you show appreciation to donors is by asking them to give.”
– Million $ Donor
• You enable donors to meet their personal desires (satisfaction, faith, reciprocity, recognition) by matching their interests with your organization’s needs
Crandall, Croft & Associates,Restoring Your Fundraising Program
Check Your View of Fundraising
• Great Fundraising is Rooted in Relationship
• Giving is built on Trust• You Steward Relationships
on Behalf of Your Museum
Crandall, Croft & Associates,Restoring Your Fundraising Program
#1 Reason Why People Give?
They were Asked!
Crandall, Croft & Associates,Restoring Your Fundraising Program
Common Rust Spots on the Frame
• Improper Gift Acknowledgement• Lack of Donor Management
Software for Tracking Relationships
• Lack of an Annual Fundraising Plan– No consistency– No intentional cultivation
process
Within 48 Hours is
Gold Standard
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 3: Body Work (Obtaining New Donors)
Crandall, Croft & Associates,Restoring Your Fundraising Program
Finding New Donors
• Start with any connections to your museum
• Make a list of all your constituent groups– Consider how to
reach individuals in each group Hank Rosso’s Concentric Circles
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tools for Acquiring New Donors
• Special Events– Shows, Exhibits and/or Marquee Event
• Annual Fundraising Campaign– Utilizing volunteer solicitors
• Membership Program– Capture Contact Info During Visit – send personal
invitation a few weeks later• Capital Campaign/Endowment Campaign
People Give to People
Crandall, Croft & Associates,Restoring Your Fundraising Program
Acquiring New Donors
This is NOT THE GOLD, but
Finding Gold Prospects
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 4: Finish the Interior (Retaining Donors)
Crandall, Croft & Associates,Restoring Your Fundraising Program
The Fundraising Challenge
• The Fundraising “Bucket”– Nonprofits lose 5 donors for
every 6 they obtain - Fundraising Effectiveness Project
– A 10% increase in donor retention can increase the lifetime value of the donor database by up to 200 percent. - IU Center on Philanthropy
Crandall, Croft & Associates,Restoring Your Fundraising Program
Donor Cycle
Cultivate
Solicit
Thank
IdentifyRust Spots
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool for Keeping Donors: Stewardship
• Appropriately acknowledge gift• Share impact of gifts– Newsletters, Magazines, Email, Personal letter
or visit• Focus on stewardship to build relationship
and trust– Host a Stewardship Event to thank donors– Phone to thank for gift (Board Members Best)
Crandall, Croft & Associates,Restoring Your Fundraising Program
Donor Stewardship
“78% of individual donors said they would definitely or probably give again to a charity that provided them with prompt, personal gift acknowledgement, followed sometime later with a meaningful update on the program they had funded.”
Penelope BurkThanks! A Guide to Donor-Centered Fundraising
Crandall, Croft & Associates,Restoring Your Fundraising Program
What Else Must You Do?
Hint: Most donors “lapse” after their first gift
Crandall, Croft & Associates,Restoring Your Fundraising Program
What Else Must You Do?
ASK AGAIN!
Hint: Most donors “lapse” after their first gift
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tools for Renewing Donors:Asking Again
• Direct Mail Renewal Appeals– Utilize lift notes
• Annual Membership Renewal– Direct Mail + Phone
• Special Events• Peer to Peer Solicitation
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool: First Time Donor Process
• Sample Process:– Welcome letter/packet (within 7-10 days or with
thank you letter)– Thank you call– Credibility piece (within 2 months)– Newsletter– Best ever renewal package (within 3 months)
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool: Monthly Giving Program
• Monthly Donors:– Generate more $$ at less cost– Are incredibly loyal• EFT Donors give 5-7 times longer than check writers• Typically continue giving even during tough times
“Adopt an Auto”
Program
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 5: Rebuild the POWER (Major Gifts)
39Crandall, Croft & Associates,Restoring Your Fundraising Program
The Pareto Principle
Donors Gifts10-20%
80-90%
80-90%10-20%
Pyramid of Giving
40Adapted from James M. Greenfield, Evaluating and Managing the Fund Development Process,
2nd ed., New York, NY: John Wiley & Sons, 1999.
Estate Giving
Major Giving
Special/Major Giving
Repeat Annual Giving
First-timer Annual Giving
Level of Relationship
Interest
Committed
Spend Your Time Here!
AndHere!
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool: Steps to Major Gifts
• Identify Prospects– Database Review/Wealth Screening– CEO and Board Prospect Review– Prospect Rating Committee
• Plan Cultivation– Right Person– Take time to Discover Donor’s Interests, Goals
“60% of 7 figure gifts came from people who had never given more than $500.” - Midsize Community College
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tool: Steps to Major Gifts
• Solicitation– Have a valid need or reason for major gift– Match donor’s interests with specific need– Go with a team– Practice– LISTEN to the Donor– Don’t chicken out…make the ask and be QUIET.
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 6: Add Some Bling
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tools: Add Some Bling
• Corporate Sponsorship Program• Planned Giving Program – Gift Annuities, Simple Bequests and Life Insurance
• Donor Recognition Program– Giving Clubs: Annual Giving, Major Giving– Named Legacy Society to recognize planned gift
donors• Host an annual induction/recognition event
– Recognize in Annual Report
Crandall, Croft & Associates,Restoring Your Fundraising Program
Tools: More Bling
• Social Media– Facebook: Create community– Foursquare: Offer “check in”
specials– YouTube: Post videos of
interest (like a behind the scenes look at a car restoration)
Crandall, Croft & Associates,Restoring Your Fundraising Program
Even More Bling…
• Put QR Codes on everything– Link to Donation page on response
envelopes, brochures and newsletters
• Utilize QR Codes on exhibits or in newsletters that take patron to a video
• QR Code on membership or event/show invitation to take directly to registration page
Possibilities are Endless!
Crandall, Croft & Associates,Restoring Your Fundraising Program
Step 7: Enter the Show(Put it Together in an Annual Plan)
Pyramid of Giving
48Adapted from James M. Greenfield, Evaluating and Managing the Fund Development Process,
2nd ed., New York, NY: John Wiley & Sons, 1999.
Estate Giving
Major Giving
Special/Major Giving
Repeat Annual Giving
First-timer Annual Giving
Level of Relationship
Interest
Committed
Plug in the Tools
Crandall, Croft & Associates,Restoring Your Fundraising Program
Acquiring New Donors•Patron Visits/Tours•Membership Invitations
•Peer to Peer Solicitation•Special Events
•Car Shows/Public Events•Specific Campaigns
•__________________•__________________
49
Crandall, Croft & Associates,Restoring Your Fundraising Program
Keeping Donors
•Effective Stewardship •Communications – Magazines/Email
•Renewal Solicitations – Direct Mail•Membership Renewal – Direct Mail/Phone
•Special Events•Donor Recognition Program
50
Crandall, Croft & Associates,Restoring Your Fundraising Program
Major Gifts
•Prospect Research•Cultivation: Tours, Visits, Special Events
•Individual Solicitations•Recognition Club for Annual Major Gifts
•Naming Opportunities•Special Projects/Capital Campaigns
51
Crandall, Croft & Associates,Restoring Your Fundraising Program
Planned Giving
•Prospect Research•Planned Giving Program
•Direct Mail/Newsletter Stories•Recognition Club for Estate Gifts
•Naming Opportunities•Endowment
52
Crandall, Croft & Associates,Restoring Your Fundraising Program
Create a Calendar
Crandall, Croft & Associates,Restoring Your Fundraising Program
Get Out and Turn Some Heads!
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