We work in a context of mantras. Lots of do’s and don’ts, lots of rules to live by, and lots of sage advice from folks who have raised lots of money for lots of different great agencies. Over time, we gather these bits and pieces together and develop our own philosophy. This is good.
One of the most helpful observations I gathered from a wealth manager and estate planner some years ago is that folks that are wealthy, monied, affluent, or have great capacity typically ‘have assets that FAR exceed their cash, like 99% assets and 1% cash’. A few years later, a seasoned fundraiser for who I have great respect also lamented ‘most development folks I know spend all of their time going after people’s cash while folks primary wealth assets and capacity lies elsewhere.’
These things are true, and as a result, I’m committed to creating opportunities for supporters and prospects to give in ways that do not limit their giving to cash on hand.
At my current agency, three of the largest gifts we received in the last fiscal year were gifts of appreciated stock. These gifts provided a tax benefit for the donor, enabling them also to invest cash they might have otherwise given back into their portfolio, and increased their overall gift size to us. A win/win proposition. Likewise, at fundraising events, you can create opportunities for folks to give directly from a donor advised fund instead of from their debit or credit cards. It works.
Would love to hear how you are creating opportunities for folks to give gifts other than cash? Join the conversation at @infosmallchange #ascblog.