Six Important Steps for Establishing a Giving Society
Establishing giving levels for a giving society to support a nonprofit organization is an important strategy to recognize and appreciate donors for their contributions. We have seen the value of launching a giving circle (or society) help a nonprofit launch a long-desired program or even help a new nonprofit get off the ground. A few best practices for establishing giving levels include:
Conducting research: Conduct research to determine the donation habits of donors to understand how much they typically give and how often. This will help in determining appropriate giving levels. Oftentimes, this can be a few key conversations or you may have this information sitting in your donor management system.
Understanding your nonprofit’s needs: Determine the specific needs of your nonprofit and the amount of funding required to meet those needs. This will help in establishing giving levels that will make a significant impact. Having a goal to reach will help create a sense of urgency and give your donors a light at the end of the tunnel, knowing they are helping to reach a collective goal.
Creating meaningful names: Develop names for the giving levels that are meaningful and relevant to your nonprofit’s mission. This will help in creating a sense of belonging among donors and make them feel proud to be part of the society. Bring in your marketing communications team to help identify a name that will support your overall brand and develop a foundation from which all the marketing needs can be derived.
Setting achievable goals: Establish giving levels that are achievable for donors at different income levels, and ensure that donors are aware of the impact their contributions will make. Be realistic and hopeful. Don’t set your sights too low but don’t set yourself up for failure either. Based on your prior research and program needs, set a tangible goal that your donors can get behind.
Offering benefits and recognition: Offer benefits and recognition to donors at each giving level, such as invitations to special events, personalized communication, and public recognition. This will help in motivating donors to give at higher levels and feel appreciated for their contributions. This is an important element and the part of your giving society where donor stewardship is critical (that’s a blog for another day).
Reviewing and updating regularly: Regularly review and update the giving levels to ensure they remain relevant and achievable based on changes in the nonprofit’s needs and donation patterns of donors. Be sure to keep your donors updated on your progress and come up with creative ways to celebrate your success.
By following these best practices, you can establish giving levels for a giving society that will be effective in supporting your nonprofit organization and making donors feel appreciated and valued. If you need help coming up with a creative way to launch a giving society for your nonprofit, reach out to Cloud 9 to start a conversation. Together, we can develop a unique revenue stream for your nonprofit and help accomplish your program and fundraising goals.