In order to meet fiscal goals, nonprofits should invest in fundraising management software.
The Nonprofit Research Collaborative found in their 2014 annual fund study that organizations with a yearly fundraising event met their monetary goals more frequently than those that don’t follow this practice. Only 57 percent of nonprofits without annual fundraisers were on their way to meeting donation goals, compared to 77 percent of the organizations who held funding events each year. On top of that, nonprofits that threw donor-only celebrations or created gift clubs for supporters were even more likely to meet their funding goals.
Eva Aldrich, president and CEO of CFRE International, told The NonProfit Times that when organizations focus only on large, one-time donations rather than hosting a yearly fundraiser, they likely fail to reach their target numbers.
Any organization struggling with raising enough money to meet their goals each year should take heed of these statistics and focus on The Fundraising Authority’s analysis of groups that always meet their objectives. Organizations that have a “donor funnel” are most successful. This funnel is essentially a set practice for contacting, tracking and connecting with current and potential givers. Without it, nonprofits easily lose sight of backers that have not given recently, have moved or have simply begun giving to another organization. Staying in touch with donors and deciding on the best ways to find new ones is a critical step on the path to meeting fundraising goals.
Luckily, with fundraising management software, all of this and more becomes a streamlined process that can help nonprofits blossom and grow. Automating emails and letters to members based on their giving profile will help both the nonprofit and the donor stay in the loop on their funding. Donor retention also excels within a software system. Don’t be part of that 57 percent falling behind on their donations!