As community foundations approach the crucial year-end giving period, the importance of effective donor stewardship cannot be overstated.
Whether you are engaging with high-end donors who care about the impact of their giving, or ones who also think about the timeliness of their contributions as it relates to key tax deadlines, when and how you talk with them is important.
First and foremost, the success of year-end giving campaigns most often hinges on the seamless collaboration between a community foundation’s development staff and its communications staff. While these departments may have distinct roles, their synergy is crucial when engaging high-end donors.
The development team:
- Brings deep knowledge of donor histories, preferences, and giving capacities
- Understands the nuances of cultivating major gifts
- Provides valuable insights into individual donor motivations.
On the other hand, the communications department excels in crafting compelling narratives, managing various communication channels, and ensuring consistent messaging across all platforms.
When these departments align their efforts, they can create a powerful, cohesive strategy that resonates with high-end donors. This collaboration allows for personalized outreach that combines the relationship-building expertise of development officers with the storytelling prowess of communications professionals.
Let me restate one key phrase in that previous paragraph – “personalized outreach.”
Below are four year-end giving strategies to engage your fundholders, donors, financial advisors and more during November and December this year.
- Impactful Storytelling.
High-end donors often want to see the tangible results of their philanthropy. The communications department can craft powerful narratives that showcase the foundation’s impact in the community. These stories should be data-driven yet emotionally resonant. Ask the development team which topics and programs their key donor targets care about the most. Then tailor your stories to those specific themes. - Tax Benefit Education.
As December 31 approaches, most high-end donors and their financial advisors are considering the tax implications of their giving. The development department, often more versed in the financial aspects of donations, can provide tailored information about tax benefits. They can also share the important year-end dates that you should communicate to donors so they know when to get their gifts in to receive the optimal tax benefits. Package that information into a quick infographic and share it with donors and financial advisors alike. - Personalize Impact Reports.
This strategy takes time and may not be for every community foundation. Especially those with limited capacity. But some of the best year-end giving strategies include customized reports and messages. If you are new to this, then we recommend testing it with 3-5 donors as a pilot. Ask the development team to share their top donor targets and create a custom report, infographic, or story based on their giving history or area of interest. Sure, it takes a lot of time to make it happen but trust us, your donors will love you! - Multi-Channel Approach.
Recognize that high-end donors have diverse preferences for how they receive information. Some may prefer in-person meetings, while others might opt for digital communications. The development team can provide insights into individual donor preferences, allowing the communications team to tailor the delivery method accordingly.
Most importantly, don’t wait to plan your year-end giving campaigns or messages. Financial advisors are already having conversations with their clients as we speak, so you should be doing the same.
