Posts tagged ‘Claire Routley’

July 13, 2018

How to Take the Guesswork Out of Fundraising

Many nonprofit professionals think that fundraising is an art. They rely upon conventional wisdom, best practices, what feels right, what they themselves like, what their boss likes. They often guess about how they can be more effective.

Yes, fundraising is an art. However, thinking of it only as an art will limit your success. Guessing about what might work, and relying on trial and error to find what will work, can be costly.

While fundraising is an art, it is also very much a science. Because fundraising is also a science, there’s plenty of solid research that can guide our efforts. In other words, you don’t need to rely on your gut to figure out the best fundraising approach.

As the winner of the Association of Fundraising Professionals-Skystone Partners Prize for Research in Philanthropy and Fundraising for my bestselling book Donor-Centered Planned Gift Marketing, I’m admittedly biased regarding the value of scientific inquiry for the nonprofit sector. Nevertheless, I recognize that it’s not always easy to find valid research reports on a given subject. Furthermore, busy fundraising professionals seldom have enough time to read all of the terrific studies that are now available.

Well, I have some great news for you! The folks at the University of Plymouth Hartsook Centre for Sustainable Philanthropy have prepared a literature review, commissioned by Legacy Voice. Authored by Dr. Claire Routley, Prof. Adrian Sargeant, and Harriet Day, the report will help you take the guesswork out of planned giving. Everything Research Can Tell Us about Legacy Giving in 2018 “is [an] in-depth report, compiled from more than 150 papers across fundraising, marketing, sociology, psychology and behavioural economics, available to anyone working in the not-for-profit sector free of charge,” writes Ashley Rowthorn, Managing Director of Legacy Voice.

In the Foreword of the report, Prof. Russell James III, JD, PhD, CFP® says:

It is wonderfully encouraging to read this review of research on legacy giving, and to know that it will be available for so many who can benefit from the work. Such a work is timely, significant, and much needed. Fundamentally, two things we know about legacy giving are that it is important, and it is different…. [The] possibility of dramatic expansion [in planned giving] starts with learning how legacy giving and legacy fundraising works. That starts with this excellent summary of what we know.”

Here are just seven tidbits from the report:

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April 9, 2018

8 Simple Tips to Boost Planned Giving Results

Planned Giving is a vital source of contributions for the nonprofit sector. Organizations that do not have a gift-planning program envy those that do. Those that do have a planned-giving program want even better results.

It’s no wonder.

Bequest giving amounted to eight percent of all charitable donations in 2016 (Giving USA). That’s just counting people who included a charity in their Will. It does not include people who gave through Beneficiary Designation, Charitable Gift Annuity, Stock, Appreciated Personal Property, or other planned-giving vehicles.

While planned giving can certainly present challenges, there are many simple things you can do to create or enhance your organization’s gift-planning efforts:

1.  Focus Your Efforts

You likely do not have the time or budget to reach-out personally to every one of your organization’s supporters to seek a planned gift. Instead, you need to focus on the highest priority prospects, those most likely to make a planned gift.

So, who are your best planned-giving prospects?

The answer to that question will depend on what type of planned gift you are seeking. For example, if you want more people to include your charity in their Will, arguably the most common form of planned giving, you’ll want to consider two key factors:

First, people who are childless are far more likely to include a charity in their Will, according to philanthropy researcher Russell James, JD, PhD, CFP®. However, just because someone is more likely to make a Charitable Bequest commitment to a charity does not mean they will be willing to commit to your charity.

Second, loyal supporters of your organization are the people most likely to make a planned gift to your specific organization, according to UK-based philanthropy researcher Claire Routley, PhD. Your loyal supporters are people who donate frequently, regardless of gift amount. Loyal supporters are also people who volunteer. People who donate cash and volunteer are nearly twice as likely to make a gift through their Will compared to individuals who do only one or the other, James’ has discovered.

When seeking other types of planned gifts, you’ll want to take into account other factors. For example, if you want people to contribute from their IRA, you’ll want to appeal to people over the age of 70.5, the age of eligibility for such giving. If you want folks to donate appreciated Stock, you’ll broaden your audience because the majority of Americans own Stock.

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