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Reminders and best practices for end-of-year activities

By June 3, 2014July 6th, 2022Steier Tips

Halloween has come and gone, and before you know it we will be completely immersed in the holidays and the end-of-year activities that come along with the season. Below are several end-of-year initiatives that you may want to consider implementing for your organization:

This provision was originally scheduled to expire Dec. 31, 2011, but Fiscal Cliff legislation included a two-year retroactive extension and will now expire at the end of this year, on Dec. 31, 2013. As a result you should consider contacting the older donors in your database. The requirements are:

  • Must be 70.5 years old or older.
  • Can’t donate more than $100,000 a year from your IRA.

Consider a gentle reminder to your supporters highlighting the benefits of year-end giving to a donor’s tax liabilities. For example, in a bulletin, newsletter or e-mail:

  • Inform supporters – especially those with unpaid pledge balances – that paying off their pledge early can benefit your organization and their tax position.
  • Encourage your benefactors to review year-end options with their financial advisors and explore other creative ways to improve their tax position.

As you review your year-end budget, look for ways to reduce expenses. Include this topic in organizational brainstorming sessions to ensure that your staff is engaged in the process and understands the importance of operating in a fiscally responsible manner. Once implemented, be sure to communicate these new cost saving initiatives with your supporters.

While the holiday season can be very busy on a personal level, you may experience a lull in typical fundraising activities. Use this time to verify that donor contact information and giving histories are accurate and that annual reports are sent to donors in a timely and efficient manner. With your donor records updated and organized, you will be well-prepared to field calls from donors looking to make that final year-end gift.

If you have any questions regarding the Steier Tips or the professional services provided by the Steier Group, I encourage you to contact me at any time.