Year-End Giving
Year-end giving can be defined as donations given during the final quarter of a calendar year. This typically also coincides with the holiday season in November and December. Year-end giving is a critical time-period for many types of organizations including non-profits and universities. It is for many the last chance to make a push towards their financial goals for the calendar year.
Year-end giving campaigns and initiatives have the potential to provide a big boost to your organization. For one, “feel good” donations tend to increase around the end of year. The data bears this out as well. According to Winspire, 50% of non-profits receive the majority of their donations from October through December. Forty-eight billion is the average amount donated to non-profits in November and December of each year.
So how do you have a successful year-end giving campaign or initiative? A couple key characteristics must be considered:
1. START EARLY! Most organizations start planning for their year-end giving campaigns in advance of December in mid-October or beginning November.
2. Consideration of Tax Incentives/Implications- A big incentive for donations from high-net-worth individuals is the ability to receive a tax deduction. If you are targeting these types of donors, it is important to have ample lead time baked into your solicitation strategy to give the donor time to consult with his or her financial advisor or accountant.
3. Strong Cause/Mission – It is vital to articulate where the money you are asking for will be used in 2024. Do you have examples from prior campaigns? Provide clear examples of the impact your organization makes through both data and digital media.
4. Clear Understanding of your Target Audience – What type of donor are you soliciting? How does that donor consume information? What characteristics will you use to segment your pool and create different strategies (i.e. age, gender, and giving potential)?
a. Consider using A/B testing for email and text campaigns! A/B testing is when you send a different message with the same call to action to different donors in the same segment to see which campaign performs better.
5. Have a Theme! – Successful campaigns are engaging and visual. Don’t be shy to have some fun with your campaign to attract different audiences.
6. Data Gathering through the Campaign – Rely on data from prior campaigns to see what has worked for your organization. Track data during your campaign to see if any changes need to be made mid-campaign. Finally, have a data review of your campaign at the start of the next calendar year to see what could be improved for future years.
Examples of Strong Year-End Giving Campaigns
Matching Gifts
Considering reaching out to a board member, business, or high net-worth individual aligned with your cause to start a matching gift campaign. Boston Orchestra used this strategy and exceeded their year-end giving goal by 35% to provide free musical performances across Boston for the next calendar year.
Power of Visuals
One potential area to help encourage people to make a donation is through the use of pictures and visuals on your donation form. Below are good examples from a Pet Resource Center in Kansas City and the Boys and Girls Club
To reach Chalk Consulting, please click HERE if you need assistance in creating a year-end giving strategy.
Thank you and Keep Doing Good Things!
References:
https://blog.winspireme.com/must-share-stats-on-year-end-giving-infographic
https://bloomerang.co/blog/year-end-giving/
https://www.onecause.com/blog/ultimate-guide-year-end-giving/
