The recent news of a $50 million gift to the University of St. Thomas’s new scholarship endowment initiative has a lot of executive directors thinking, “Is now the time to fund an endowment?” A healthy endowment is a boon to any size nonprofit and can ease the funding pressure of staff salaries, facilities or programs. Many development best practices that apply to any type of campaign also apply to an endowment campaign. But, when wondering "how to grow an endowment fund," there are a few unique considerations to keep in mind: Develop a strong strategic vision: A well-funded endowment can…
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For most nonprofits, a capital campaign is the result of many months, if not years, of strategic planning and preparation. Typically, an organization has established some long-term goals and projects that are too large to be funded through normal operating revenue. Now, what are the next steps? How do I start a capital campaign? Here are the five key steps in transitioning from strategic planning to conducting a campaign: Identify your organization’s needs: Before moving forward with a capital campaign, you should be able to answer “yes” to this question: Is the need – as defined by leadership – real?…
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What if I told you that fundraisers with video raise 70 percent more? That’s a big number – one that demands our attention. A capital campaign video is a strong way to convey a clear message and evoke passion about one’s cause. Most of our clients have found that the investment made in a professionally produced video is worth it. YouCaring, which assists organizations with online fundraising, states that fundraisers with videos raise 70 percent more on average. A professional video is among the capital campaign services offered by the Steier Group. The growing popularity of this service is due…
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If you want to properly thank a donor, take your template thank-you letter and toss it out. Instead, write a quick note from the heart that acknowledges the gift and gives your donor a reason to support your organization again. Your goal is to make your letter (and the gift) memorable. Here are some suggestions: The thank-you letter It’s a given that you need to include the basic gift documentation. Once you’ve done that, look for ways to make the letter memorable: Never send the same letter to a donor twice. Change the content of your thank-you letter as often…
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Every capital campaign is different. The organization’s mission and vision, the campaign goals, the donor base, the availability of willing volunteers – all of these factors contribute to making each project unique. However, there are techniques that apply to almost all organizations. Here are eight capital campaign strategies that work: Campaign planning studies: Even before a decision is made about whether to conduct a campaign, a thorough campaign planning study will set you on the path for future success. A study will test support for the proposed projects, help you establish realistic goals and identify potential donors and volunteers. Beyond…
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As a nonprofit leader, you know the extraordinary effort you and your staff put forth to fulfill your mission. It takes passion and determination to serve your community. You must also cultivate, solicit and thank donors to meet your organization’s current needs while always keeping an eye to the future. Add in strategic planning, hiring and budgeting and it can be an overwhelming task! Now consider launching a full-scale capital campaign and the phrase “there are not enough hours in the day” comes to mind. You will need help to do the job right, and that’s exactly what a capital…
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As the year draws to a close, it’s important to take a look back at 2017 and take stock of your organization’s successes and struggles. For nonprofit leaders, it’s a busy time focused on year-end fundraising and 2018 strategic planning. It can be difficult to set aside time for reflection, but it’s necessary in order to develop your organization and fulfill your mission. This kind of discernment and purposeful follow-up action are what distinguishes top-notch organizations. Here are a few things to keep in mind: Evaluate your performance: Look back at the goals you set for 2017. Were expectations unfulfilled,…
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Strong planned giving is the hallmark of a high-functioning development program. While many organizations are able to meet their needs through annual fundraising and capital campaigns, planned giving is often the final element that allows a program to reach its full potential. Deferred gifts offer peace of mind to both the donor and the organization. They allow the organization to escape the hand-to-mouth budgeting cycle and plan for the long term. Is your planned giving program meeting its full potential? Here are four ways to boost the power of your deferred gifts: Catalog the planned gifts that already exist: If you…
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For 20 years, the Steier Group has relied on data analytics to manage our successful campaigns. Our statistics show what we know from experience: People give more to religious and community organizations when they are asked in person for support. The Steier Group recently embarked on a major, two-year research project to quantify exactly how much more effective personal visits are than other solicitation methods. We tracked 51 campaigns and 22,757 donor decisions, analyzing the size of gifts relative to how prospective donors were asked for support. We found that donors, when asked in person, give 54 percent of their…
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“We can complain because rose bushes have thorns, or rejoice because thorns have roses.” ― Alphonse Karr (1808-1890) As I look back over the Steier Group’s 20 years, I could easily focus on the setbacks, struggles and heartaches. In other words, I could focus on the thorns. But I’m glad to say that when I look at the amazing relationships the Steier Group has developed with our clients, when I survey the good that we’ve achieved together for such noble causes, when I consider the projects accomplished that have borne such fruit for so many, I cannot help but concentrate…
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