6 Resolutions for Non-Profit Executives in January 2020
With the new year upon us, non-profit organizations too often tend to use the first few weeks of the month to recover from the holiday giving season, clean out old e-mails, organize their offices, and stress about the months ahead. But during this “downtime”, non-profit executives should perform important tasks and ascertain critical information to ensure their organization is on the right path.
1. Resolve to Revise or Create a Written Annual Plan
The first few weeks of January is the perfect time to edit your written annual plan. Take a moment to look at the outcomes of your appeals, special events and in-person asks and revise, as needed. Will you need to add a solicitation to your plan? Did your last direct mail piece exceed your financial goal and your response rate goal? Have an honest meeting with your accountability partner and adjust your plan for the remainder of the fiscal year, if needed.
2. Resolve to Determine Your Donor Retention Rate
Every non-profit organization should know its donor retention rates. Simply put, donor retention is the number of donors who gave to your organization in 2018 and 2019. A high donor retention rate speaks to the health of your organization and speaks volumes about your donor stewardship efforts. Unfortunately, the industry average for donor retention hovers around 45%. That means, on average, less than half of your donors are staying with you from one year to the next.
How does your organization stack up? Find out more at DonorRetentionRate.com.
3. Resolve to Say, “Thank You”
January is the perfect time of year to get creative with stewardship. For example, record a thank-you video to send to donors. Platforms like CauseVid are cost-effective tools that make recording, uploading, and distributing a video to your donor database simple. These platforms do not require any fancy recording devices – your smartphone will do.
4. Resolve to Grab a Cup of Coffee with Five Donors
Before people get engrossed in the new year and busyness sets in, take advantage of the relaxed atmosphere to schedule coffee with five individual donors in your database. Ask your gift processor which donor would be the best to catch up with; they will know who your most loyal donors are. Meet with these individuals and ask one question: “Of all the non-profit organizations in our area that you could support – why do you choose our organization?” Don’t ask for money, don’t perform prospect research ahead of your visit, don’t come to the meeting with piles of information to share. Grab a cup of coffee and ask one question. You’ll be amazed at the information your donors will share with you.
5. Resolve to Begin Budget Planning for Next Year
For most non-profits, you’re halfway through your fiscal year. The halfway point is a good time to begin to plan for your next fiscal year’s budget while also projecting fundraising revenue for the remainder of the year. Use your fundraising results from the past two to three years to create realistic predictions and goals. Most importantly, discuss with your programs team what they predict they will need as you begin to formulate a draft budget.
6. Resolve to Focus on Grant Writing
Unless you’re a full-time grant writer, grant writing always seems to take a backseat to the more pressing operational needs of non-profit organizations. Now’s the time to craft or edit your organization’s letter of intent, update your organization’s statistic/demographic information, and research upcoming funding opportunities. Take a moment to create or revise your grant’s calendar so you’re aware of upcoming deadlines.
About the Author
Michael J. Buckley, CFRE is a career fundraising professional and Founder and Managing Partner of The Killoe Group. His firm assists nonprofit organizations increase revenue, exposure and capacity through smart, data driven, successive decisions and effective planning. Mike’s experience and passion for the profession of fundraising have made him a sought-after speaker, consultant and presenter. The Killoe Group’s broad experiences include annual campaign audits and management, capital campaign leadership, feasibility studies, interim program leadership, board governance, strategic planning and capacity building.