Looking for funding opportunities? We've identified a few funds that might be useful to you. Visit the links below to learn more about the requirements and deadlines for these opportunities.
This year, commencement season is even more special as we celebrate the success and resilience of the Class of 2021. As fundraising professionals, we should rethink existing strategies and create new strategies to cultivate and engage a new class of alumni who are more diverse than ever. Furthermore, as COVID-related restrictions start to roll back, fundraisers should start thinking about the future of philanthropy, post-pandemic.
Schedule face-to-face meetings with donors and prospective donors, in-person if possible. Though some supporters may still want to engage virtually, there are definitely those who are open to communicating in-person. These meetings may lead to an opportunity to discuss changes in philanthropy and may generate discussions about your donor's continued role in philanthropy.
Plan hybrid events. Many future events will have a virtual and live option for attendees. Institutions should plan events that allow individuals to interact with each other socially, while providing them with an option at their comfort level. As we head into warmer days, outdoor events may be more appealing to some supporters as they may be eager for a chance to socialize with others.
Take advantage of greater giving by lower-level donors. Online giving can be utilized to increase lower-level and mid-level giving. Select a digital platform that works best with your existing database and processes gifts seamlessly. In addition to creating specific financial goals and inspiring messages for your institution, digital platforms can allow supporters to share the university's message with their own peers.
Convert pandemic donors to annual donors. Identify donors who supported your institution during the pandemic and transform them to annual or recurring donors. Segment donors of different giving levels and personalize stewardship to show appreciation and build stronger relationships.
Prepare for capital campaigns. Recent reports on philanthropy indicate that capital campaigns were not a priority at many organizations during the last year. This might be a good time to plan and prepare for future capital campaigns.
After implementing these tips, fundraisers should segment their donor database to identify first-time donors who gave during the pandemic, recurring donors, major gift donors, attendees and supporters of virtual events, and individuals who did not support last year.
We hope everyone has wonderful plans for the summer. As always, feel free to reach out us with questions, comments or any assistance with prospect research!
Best Regards,
Sapna and USM Advancement Research Team
Did you know?
The University System of Maryland Foundation has access to a library of recorded webinars from the Annual Giving Network (AGN) that you may watch at any time from your computer. While we cannot currently gather in person for professional development events, this work from home period provides a great opportunity for you to learn on your own time! Please click here to see what webinars are available fromAGN.
If you are interested, please email Linda Bowman ([email protected]) and she will help you access these webinars for free. Please do not try to access these webinars on your own, as you will be charged a fee.
Please also note that the Foundation only has access to free AGN webinars, not workshops. Workshops are available at a marginally discounted rate.
Marts and Lundy identified the four areas of major change in philanthropy over the past generation as:
The professionalization and nearly exponential investment in staff, overturning the existing broad-based volunteer model;
A focus on much larger gifts, in many cases causing a decline in the broader-based giving of smaller gifts;
The utilization of analytics, more and deeper, in decision-making about potential donors, and the management of staff with performance metrics as a primary tool; and,
The increasing utilization of technology to receive gifts and to secure gifts.
This article discusses each area in detail and encourages fundraisers to embrace change, be an innovator, and be an early adopter of change.
According to sgEngage, the average recurring donor gives 42 percent more per year than one-time donors. How can your fundraising office gain recurring donors? sgEngage encourages fundraisers to shift to online fundraising tactics to develop recurring gift programs and reach a wider pool of donors. In order to build out a recurring gift program, your office should prioritize the donor experience, actively promote your recurring gift program, and segment communications for recurring donors. Click here to read strategies on how to accomplish this.
According to The Future of Philanthropy: The Evolution from Charitable Giving to Charitable Living, a new study from Fidelity Charitable, Millennials are making purchases from socially conscious firms, investing in funds that support equality and environment causes, and supporting organizations that promote economic or racial justice. The study also shows that three-quarters of Millennials consider themselves philanthropists, compared to one-third of Baby Boomers. Millennials, unlike their predecessors, believe their values are more important than a specific nonprofit brand, which means that nonprofits are at risk of losing Millennial support if they fail to live up to their values. Read more here.
On May 11, the Department of Education released instructions for permissible uses of emergency funding for higher education institutions. The $39.6 billion allocation is part of the American Rescue Plan Act of 2021 and represents the third portion of funding from the Higher Education Emergency Relief Fund, which was created to respond to the pandemic. Click here to read about where the funds will be allocated, if students are eligible for financial aid from the funds, and more.
This article from Wealth Engine takes a look at the landscape of fundraising in higher education and the pandemic's impact on fundraising forecasts and strategies. In the short-term, Wealth Engine encourages fundraisers to work with different departments on campus to cultivate donor relationships. They also suggest prioritizing digital marketing to share the university's message and cultivate donors. In the long-term, donors will continue to want to ease the burden of the cost of higher education for students and institutions will need to adjust their fundraising goals to balance the needs of the institution and the desire of donors to aid students directly. Above all, higher education institutions should remain flexible and continue to share how the university is supporting the community on digital platforms. Read more here.
