Recently, we were lucky enough to have Russell James, J.D., Ph.D., CFP® join us for our webinar series. He shared his latest research in our webinar Why Cash Is Not King In Fundraising: Results From 1 Million Nonprofit Tax Returns.
He uncovered the secret to fundraising growth—and it’s not cash.
3 Things to Think About
1. “If you are asking for cash, you are asking small.”
In donors’ minds, noncash assets are seen as smaller in comparison to cash.
In other words, your donor feels that an appreciated asset donation is objectively “cheaper” than one coming directly from their pocket. This means donors may be willing to share more of their total wealth in assets to help your organization and its mission.
2. “Wealth is not held in cash. It is held in noncash assets.”
Many potential donors hold a large share of their wealth in assets: stocks, bonds, retirement accounts, life insurance, mutual funds, etc.
The more categories of gifts your organization specifically asks for, the more gifts your organization is likely to receive.
3. “Cash is anti-social. Gifts of objects are pro-social.”
When it’s your best friend’s birthday, do you give them cold hard cash? Almost never. Money can be seen as impersonal.
Befriend your donors. Work with them closely to find out which gift will work best for them. Not only will your relationship with your donors grow but, as an added bonus, so will your fundraising skills.
Hear more about Russell James’ most recent findings in our webinar below (you can download his slides here). You can also read more about it in this blog from our friend, Eddie Thompson, at the The Fundraising Executive.