Giving in turbulent economic times presents special challenges. What worked one or two years ago may not be an effective approach right now. For a thorough analysis of giving strategies in this bear market, turn to the philanthropy experts at Bentz Whaley Flessner. Visit www.bwf.com to download the white paper on Giving in Tough Times or call us and see the advantages of working with thought-leading consultants who develop and use strategies to fit the times.
Bentz Whaley Flessner urges caution in making the case for your institution based on the volatility of financial markets. In the long run, development programs will be asked to make the case for the permanent charitable capital of endowment. Communicating that current financial struggles occur because of an institution’s dependency on endowment can linger with donors and potentially undercut the case for building endowment. We believe a stronger case can be made by demonstrating how an insitution is managing its finances and operations during this difficult time.
CASE has released Bobbie Strands latest book on prospect research, A Kaleidoscope of Prospect Development: The Shapes and Shades of Major Donor Prospecting, and it has received very positive reviews. For three decades Bobbie Strand has been a leader in prospecting, and this work highlights best practices including new tools, data mining, database screening, volunteer screening, fact-finding, ratings, prospect pyramids, track and donor management, gift accounting and managing a strong prospecting program.
A part of the American Recovery and Reinvesting Act could affect the very core of robust healthcare development programs–the ability to directly fundraise from grateful patients. Language contained within the original House and Senate bills (H.R. 1, section 4406 (b); S. 1, section 13046(b)) would deny not-for-profit hospitals and healthcare providers access to names and addresses of patients in their own institutions for fundraising purposes, as it removes fundraising from the definition of health care operations.
Tips and techniques for effective cold calling of donors and prospects.
The U.S economys downturn is affecting fundraising results. In times like these, perceived cost centers are sometimes slashed through staffing and budget cuts. Increasingly sophisticated nonprofits are finding, however, that such cuts to cost centers can be counterproductive. This is particularly true of advancement and development services. Smaller staff using fewer resources will yield inferior results. These inferior outcomes can negatively affect donor relationships, retention, and acquisition. If your organization needs to consider some belt-tightening due to sluggish giving, consider these advancement services solutions in lieu of budget cuts. Improvements in these areas will maximize your return on investment and help you generate fundraising momentum.