The monthly giving programs have become very popular among non-profits because of their potential for long term financial commitments. This recurring giving is a monthly donation that happens automatically using a process that’s referred to as E. M. T (Electronic Money Transfer. ) This valuable program provides a predictable source of income that a non-profit can depend on every month without question. Recruiting monthly donors is inexpensive and affordable. Once set up, the donation process is electronic and automatic and therefore this program requires little staff time to oversee.
The non-profit must not just set donors up for recurring giving and then ignore them. These are some of our most loyal donors, so we must make sure that they receive a proper thank you letter along with a complimentary update letter advising them on current programs, how their contributions are being used and an opportunity to increase donations. Non-Profit organizations with a strong monthly giving program can count on a strong base of donor support month to month and year to year. Building a monthly donor program should be one of the key goals of any non-profit.
This program is among the most cost-effective, long-term fundraising methods that a non-profit can implement. People are vital to success, both the staff implementing the program and the constituents who respond by participating in the monthly donation program. The staff must have a full understanding of how the organization will benefit and how the donors will benefit as well. Bring the staff up to speed on how to incorporate this new fundraising method into other strategies that the organization uses to raise money.
The organization must keep in contact via newsletter, personal calls, Web site and even direct mail to raise their awareness of the bene? ts to them. The planning that is necessary for a successful campaign to increase the monthly donor program has several key aspects to consider. Good planning up-front will ensure we have a reliable, credible way to identify, reach out to, and manage recurring gift donors, as well as help keep an eye on the overall progress. In order to run a successful monthly giving program, our organization must have a compelling mission statement that is effectively communicated to potential donors.
A commitment from staff and board members to build and oversee the program in its entirety. Having a compelling reason to join the monthly program helps donors make decisions to participate. We should clearly articulate our own special mission and its importance. We should always communicate what the benefits will be to them for example by joining the program, the donor will be supporting and empowering the organization to do the important work it does and the past successes.
We make sure that we use technology such as the EMT (Electronic Money Transfer. to help make their participation as convenient as possible. These implementation and development strategies are among the most effective ways to successfully launch a monthly partner program. The key to the monthly donor program is understanding who and what they are. They are not large check writers. Monthly donations allows even small donors to invest in an organization in a way that’s easy, comfortable and affordable for them, while generating lots of money for our organization and our donor retention rate can increase.
The program starts will minimal resources. The web source donation system should have one-time donation pages and should have a separate monthly donation page as well. Empowerment can have a lasting effect on donor support and prospects. Encourage key supporters of the organization to become monthly giving advocates that help extend your reach beyond just your own network. Influential donors or advisors may have the ability to reach and convert new recurring donors. The donors and the monthly donor program has to be something special.
What I mean is you must make these very important donors feel exactly that important. Being a part of a specialized club that gives them special privileges because of their long term commitments to the causes of the organization and communicate to donors how their participation in the recurring donations program will give them special status as a contributor. Many nonprofits have created a special designation to identify donors who have committed to recurring giving, as well as offering special gifts or benefits and acknowledging them at special events or in publications.
The research aspect involves building participation in recurring giving programs which requires an integrated approach to solicitation. Incorporate this into mailing and other marketing strategies along with fundraising campaigns that are targeted at one time gift givers. This has the potential to bring one time contributors into the monthly giving program. I want to mention that building a successful program requires a long-term commitment and consistency of effort on all those connected with the program design and implementation.
The Monthly donor program at the Phoenix Rescue mission is located on the mission web page and is presented here. “Become a Ministry Partner and give a monthly gift to save lives With an affordable gift each month, you are helping the Phoenix Rescue Mission to spend more money on saving lives and less on administrative costs. Benefits of the Ministry Partner Monthly Giving Program to you: • Convenience • Knowing that more of your donation goes directly to help the hungry and homeless. • You have total control of your donation.
You decide the amount, how you pay, what program you want to support, when to increase or discontinue your gift. Benefits to the Phoenix Rescue Mission: • Predictable source of income to maintain vital programs all year long. • Better use of resources. • Saving credit card fees if you allow us to debit your bank account instead of using a credit card. ” (Phoenix Rescue Mission. ) The Phoenix Rescue Mission has implemented the monthly donor program many years ago and it has been a great success.
When I spoke to Jay A. Corey about the program he had this to say “We are very pleased to have such a great fundraising program at the mission. Me and my talented staff spent several months planning out a strategy and we are thrilled with the results. He went on to say that the program grew over time and therefore they had to be patient however now we have established a large group of dedicated followers who contribute every month. The financial stability this provides to the mission is how we are able to do the great humanitarian work we do and we are so thankful for them. ”