karen revels stewardship
TRANSCRIPT
All materials contained within are copyright of the Edyth Bush Institute for Philanthropy & Nonprofit Leadership at Rollins College unless otherwise noted.
Karen Revels, MSM Sr. Manager of Philanthropy
Stewardship Matters
“Stewardshipis the of philanthropy.”
- Hank Russo, Achieving Excellence in Fundraising, 2nd Edition
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stewardshipnoun stew·ard·ship \ˈstü-ərd-ˌship, ˈstyü-; ˈst(y) rd-\u̇
The Simple Definition: the activity or job of protecting and being responsible for something
Full Definition: the conducting, supervising, or managing of something; especially : the careful and responsible management of something entrusted to one's care <stewardship of natural resources>
• Waaaaay more than a thank you letter
• Stewardship = development
• Delivering on the promise charity made when asked for gift and donor gave
• First step to next gift
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What is Stewardship?
• Most fundraising programs spend:
70% on “churn” 30% on donor retention• Many fundraising programs:
Excel at donor acquisition Fail at donor retention
Penelope Burk “Donor Centered Fundraising”
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Research confirms:
First time gifts: Only time the “ask” is 100% reason why they gave
All other gifts: stewardship and communication
Penelope Burk “Donor Centered Fundraising”
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Research confirms:
70% of donors give lowest amount they can give
Penelope Burk “Donor Centered Fundraising”
Research confirms:
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1. Prompt, meaningful acknowledgement
2. Designation of gift to program/service/project more narrow in scope than overall mission
3. Measurable results on last gift before ask again
Penelope Burk, Cygnus Applied Research & Burk & Associates Ltd.
Donor Centered Fundraising and Donor Centered Leadership
Donors want 3 things from charities they support
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Why is this important?
• 86% of surveyed donors would continue to give if they receive this info
• 70% would likely increase giving if charities improved communication
Cygnus Applied Research & Burk & Associates Ltd.
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• 48 Hour Rule • Be Different Than the Rest• Handwritten Rule Written
Communications• State Exactly What the Monies will Fund • Call or See in Person as Often as Possible
5 Acknowledgment Principles
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“Give higher priority to your thank you notes than to any other piece of communications you work on.” Kivi Leroux Miller
“Thank your donors three timesas often as you ask.” Network for Good Learning Center
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Make Stewardship a Priority
• Thanking donors in multiple ways• Become Donor Centric• Report on results before asking again.
Ask. Thank. Report. Repeat.
Rule of Sevens
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Who should do stewardship activities?
• Board• ALL staff• Clients• Volunteers
• Calls• Hand written notes• Sign thank you letters• Thank in person• Tell their story• Update top donors
• Give tours• Invite/host small group events
• Report on accomplishments
Role of Board/Volunteers/Clients
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• Report on accomplishments• Ask for opinions and ideas• Know your best donors by name and by sight • Get to know donors • Treat donors like insiders• Ask them to tell their story about your cause• Invite them to tell others• Provide opportunity for input and choice
Role of staff
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What is your organization doing
to retain existing donors?
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THANK YOU!