Why every nonprofit needs the option…
Research shows that options for donating is the best approach to reach existing donors, especially those who have lapsed in giving, as well as procuring new donors. One of the easiest ways, and found to be the most successful, is “recurring giving.”
One company’s case study states that they increased their overall donations by nearly 48% just by offering the option of recurring giving.
Along with asking for one-time donations in the year-end appeal, Opengate also offers a way for donors, old and new, to begin paying forward by allowing monthly installments for gifts. Many potential donors are simply not in a position to make a lump sum donation and may not give at all because of that fact. Example: If only 100 new donors commit to a mere $10 per month for one year it will earn $12,000!
Nonprofits like Opengate benefit from monthly giving because of the regularity of monthly revenue which allows us to plan expenses and fundraising campaigns more effectively. Line item budgets, as well as unexpected expenses such as replacing or repairing items, are able to be done on a more timely basis and plans can be made for more outings and events for individuals.
Recurring donations allows nonprofits to build better relationships with loyal donors, increase donor retention, and allows a more desireable approach to new donors. The success of recurring donations allows nonprofits to decrease the expensive costs incurred for printing and mailing appeals to a list of existing donors.
According to Dr. Adrian Sargeant, Professor of Fundraising at the Lilly Family School of Philanthropy at Indiana University: “Over 70% of people that we recruit into organizations never come back and make another gift. Compare that to an 80% first-year retention rate for donors who give through a monthly giving program. A small monthly amount can easily fit into everyone’s budget, even alleviating the financial demands of families and individuals who struggle but wish to give something.”
Research shows that no matter what the age demographic of donors, most people are paying bills online, often through automatic payments. Digital payment platforms allow you to donate online, whether one time, or by setting up a recurring donation, billed to you monthly, or automatically deducted from your credit card or bank account. Digital payments offer quick, easy, and secure methods to donate and feel good about your gift.
We have included the option of a one time gift or a recurring donation below as well as on our Support Page which includes all of the other options Opengate offers donors to contribute.
What is your plan for support this year? If you have questions or need assistance, please contact us at firstname.lastname@example.org or call 914-277-5350 and we will direct you to someone who can help you in your giving decision making.