Restoring Your Fundraising from Jalopy to Roarin’ Hot Rod

Restoring Your Fundraising from Jalopy
to Roarin’ Hot Rod
NAAM Conference 2012 7 Easy
Steps!
Robert Croft, CFRE

www.slideshare.net/rncroft

About Me: Car Restoration

Thank
Goodness
for eHow!

How Did We Survive w/o eHow?

Crandall, Croft & Associates,
Restoring Your Fundraising Program


With
VIDEO!


How To Manage an Automobile Museum


Session Objectives: Restoration 101
• Overview of Basics of Fundraising
• Acquiring New Donors 7 Easy
• Keeping Current Donors Steps!

• Raising Major Gifts
• Today’s Goal: Putting It Together in an Annual
Plan


Step 1: Inspect, Inspect, Inspect

Is this the state of your current fundraising efforts?

Q1: Is Your Garage Big Enough to
Raise Big Bucks?

YES! Small shops can raise millions with
right tools, determination and effort!


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?

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


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 Presentation
www.guymallabone.com/resources - Audit Tool


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?


Step 2: Repair the Frame:
(Fundamentals of Fundraising)


Pyramid of Giving

The Art of Fundraising is a Estate Committed
systematic effort to move Giving
individuals up the pyramid
of commitment Major Giving

Special/Major Giving

Repeat Annual Giving

First-timer Annual Giving Interest

Adapted from James M. Greenfield, Evaluating and Managing the Fund Development Process,
2nd ed., New York, NY: John Wiley & Sons, 1999. 16

Your Job as a Fundraiser

• Cultivate and deepen relationships
• Utilize effective fundraising practices
• Maintain the highest ethical standards

Restoring Your Fundraising Program 17

Why Do People Give?


Affluent Donors – BoA 2010 Study

• Top motivations for giving were:
Connection
– Being moved by how their gift can make to Mission
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


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, re
cognition) by matching their
interests with your organization’s
needs

Check Your View of Fundraising

• Great Fundraising is Rooted
in Relationship
• Giving is built on Trust
• You Steward Relationships
on Behalf of Your Museum


#1 Reason Why People Give?

They were
Asked!


Common Rust Spots on the Frame

• Improper Gift Acknowledgement Within 48
Hours is
• Lack of Donor Management Gold
Standard
Software for Tracking
Relationships
• Lack of an Annual
Fundraising Plan
– No consistency
– No intentional cultivation
process


Step 3: Body Work
(Obtaining New Donors)


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


Tools for Acquiring New Donors

• Special Events
– Shows, Exhibits and/or Marquee Event
• Annual Fundraising Campaign People Give
to People
– Utilizing volunteer solicitors
• Membership Program
– Capture Contact Info During Visit – send personal
invitation a few weeks later
• Capital Campaign/Endowment Campaign

Acquiring New Donors

This is NOT THE
GOLD, but
Finding Gold
Prospects


Step 4: Finish the Interior
(Retaining Donors)


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


Donor Cycle

Identify Cultivate

Rust Spots

Thank Solicit


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)


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 Burk
Thanks! A Guide to Donor-Centered Fundraising


What Else Must You Do?

Hint: Most donors
“lapse” after their
first gift


What Else Must You Do?

ASK
AGAIN!
Hint: Most donors
“lapse” after their
first gift


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


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)


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


Step 5: Rebuild the POWER
(Major Gifts)


The Pareto Principle

Donors Gifts
10-20%
80-90%

80-90%
10-20%


Pyramid of Giving

Estate Committed
Giving
Spend Your And
Time Here! Here!
Major Giving




Adapted from James M. Greenfield, Evaluating and Managing the Fund Development
Process, 2nd ed., New York, NY: John Wiley & Sons, 1999. 40

Tool: Steps to Major Gifts

• Identify Prospects
– Database Review/Wealth Screening
– CEO and Board Prospect Review
– Prospect Rating Committee “60% of 7 figure gifts came from
• Plan Cultivation people who had never given
more than $500.”
- Midsize Community College
– Right Person
– Take time to Discover Donor’s Interests, Goals


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.


Step 6: Add Some Bling


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

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)


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 Possibilities
event/show invitation to take are Endless!
directly to registration page

Step 7: Enter the Show
(Put it Together in an Annual Plan)


Pyramid of Giving

Estate Committed
Giving
Plug in the
Tools
Major Giving




Adapted from James M. Greenfield, Evaluating and Managing the Fund Development Process,
2nd ed., New York, NY: John Wiley & Sons, 1999. 48

Acquiring New Donors
• Patron Visits/Tours
• Membership Invitations

• Peer to Peer Solicitation
• Special Events

• Car Shows/Public Events
• Specific Campaigns

• __________________
• __________________


Keeping Donors
• Effective Stewardship
• Communications – Magazines/Email

• Renewal Solicitations – Direct Mail
• Membership Renewal – Direct Mail/Phone

• Special Events
• Donor Recognition Program


Major Gifts
• Prospect Research
• Cultivation: Tours, Visits, Special Events

• Individual Solicitations
• Recognition Club for Annual Major Gifts

• Naming Opportunities
• Special Projects/Capital Campaigns


Planned Giving
• Prospect Research
• Planned Giving Program

• Direct Mail/Newsletter Stories
• Recognition Club for Estate Gifts

• Naming Opportunities
• Endowment


Create a Calendar


Get Out and Turn Some Heads!


Restoring Your Fundraising from Jalopy to Roarin’ Hot Rod

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