Harvey McKinnon has
been raising funds for U.S. and Canadian nonprofits for more than 30
years. He understands the challenges of a
competitive marketplace and has always stressed the importance of building
long-term relationships with donors. His
focus is on monthly donor programs as a means to provide great service and cultivate
sustained donor loyalty. Hidden Gold,
first published in 1999, has become the seminal publication on monthly donors,
and McKinnon an internationally recognized expert on the subject.
In this excerpt, Harvey challenges some of the common
objections that fundraisers have to starting a monthly giving program:
work with our donor base - A large European charity spent a fortune mailing
to their entire list, an invitation with the wrong monthly giving
proposition. They may have asked for too
much money, or too little. The details
don't matter. The people in charge of
fundraising concluded that their donors wouldn't go for a monthly giving
program. Just two years later, after
developing the proper proposition, they were receiving more than 60% of their
income from monthly donors.
donors aren't committed enough - In my experience, any nonprofit organization can make a significant amount of money
from a monthly giving program. (Anyway, you don't know until you try it!)
small amount of money - Guess again! I worked with a medium-sized
Australian nonprofit that started a monthly giving program from scratch. Over
11 years the program grew from nothing to 11,512 monthly donors generating
annual income of $3,492,381. The success of your program will be based on many
factors: the product, the offer, the benefits to the donor, the media you use,
your budget and the copy or pitch.
much work - Monthly giving programs can easily be streamlined. For example,
you could contract out the EFT and credit card processing to a service bureau.
To reduce staff time and costs, you could decide not to offer a check option. A
monthly giving club may be the most cost-effective element in your development
Not convinced yet? Then get this book, Harvey will help you