As we enter the final days of the Holiday giving season, a question occurs to me. It’s one all nonprofit development officers who expected this season to yield increased giving over last should ask themselves: Was I prepared?
Come January it’s tempting to sit back and rest after a hectic three months. Maybe even pat yourself on the back a bit. That’s especially true if year-over-year you did better. But making dollar amount raised, number of gifts, and average size of a gift the only measures of success or failure is a mistake. Doing your job well in the final quarter can boost donations and cover up what you failed to do in the first three.
When I ask were your prepared, I’m not asking about your readiness to receive an influx of donations. Nor whether you created and executed well-crafted appeals. I’m asking what you did during the first ten months of the year to enlarge your base of potential donors. How did the number of qualified prospects with which you began the final two months of this year compare with last year? Was the number substantially stronger? Was it ten, twenty, thirty percent…higher?
I suggest you look at those numbers. Don’t kid yourself. Be ruthless in your analysis of what constitutes qualified. Then deconstruct everything you did to make this year’s number substantially larger than last year’s. I bet you’re going to be disappointed in your efforts.
January is a great time to develop plans for making your organization better prepared to optimize the next holiday giving season. Then February through October carryout those plans. Make it a priority. Dramatically increase the number of well qualified prospects for the coming holiday giving season and you’ll really have something to crow about the following January.
Could you tell me if I could start a 100,000 term life insurance policy, pay 515 yearly, benefactor would be animal shelter and contingent animal shelter in case it went under in 20 years…… could I deduct this as a charitable donation on my income taxes? I could not find it in your inkind posts, but I did not read all of them…google brought me to your page for this question.
Beyond the Grave gave me the idea since it suggests buying life insurance policy to even things out in your trust.
Your question is unclear to me. who is paying the 515 per year to whom? I am assuming you are saying that is the cost of the policy. Yes it is possible to make a life insurance policy a charitable gift. Check with the nonprofit you wish to make the beneficiary and/or the insurance company for the ins and outs of IRS policy regarding this. It might also be possible to set up a donor-advised fund as the beneficiary and to manage the gift through the donor-advised fund. However, I am unsure whether a donor-advised fund can or would be willing to accept a life insurance policy as an asset. I would recommend contacting a steward of donor advised funds such as iGiftFund.org for guidance on this.