Increasing donor retention by 80% to ensure your nonprofit’s sustainability.
SHOW NOTES:
June 27, 2024 – Episode # 145
From One-Time Gifts to Lifelong Giving: Sustaining Donations with Recurring Gifts featuring Stephen King
Nonprofits have a lot on their minds. Constant concerns about donor acquisition, retention, and lapsed donors are just the tip of the iceberg. The need to innovate, keep up with AI advancements, and explore new giving opportunities such as donor-advised funds adds to the complexity.
Staying current with the evolving fundraising landscape is time-consuming. Combine that with limited resources and the effort required to learn and implement new tools, all while running your nonprofit like a business and scraping for every dollar, and it’s truly daunting.
However, one area that can bring some relief is donor retention—particularly when you have a robust giving plan in place. That plan should focus on recurring gifts.Meet Stephen King, Founder and CEO of GrowthForce, a firm that manages advanced accounting and CFO services for nonprofits. Stephen has a passion for helping nonprofits reach their growth potential, and a key part of that strategy is a focus on recurring gifts, which he refers to as the Nonprofit Sustainer Program.
Stephen believes that every nonprofit should offer a sustainer program to their donor base, as it is the best vehicle for donor retention. However, a sustainer program is more than just a one-line payment option on a giving form. Donors enrolled in recurring gifts need to be engaged and informed about the impact of their giving, and more importantly, about what happens without their recurring gift.
Tune in as Stephen takes you through the mechanics behind sustainer programs, why they are crucial for nonprofit organizations, the first steps to creating a sustainer program, and how to overcome common challenges when implementing recurring gifts.
In this episode:
- Explore why having a sustainer program is crucial for ensuring long-term success and stability for your nonprofit.
- Discover the compelling statistics behind the annual giving of donors enrolled in recurring gift programs.
- Gain valuable insights on how to establish or enhance your nonprofit’s sustainer programs.
Connect with our guests on LinkedIn: Stephen King or visit GrowthForce.
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