Fundamental to maintaining lasting non-profit organizations is coming up with planned giving programs. Many of these organizational leaders fail to develop these programs due to various reasons. Some of the reasons are highlighted below.
According to Pagnoni (2014), most organizational leaders imagine that planned gifts are differed. This may not be the case with all planned giving. Many fundraising individuals tend to think that donors want to get way with capital tax gains and get gift deductions. Failing to create a planned giving case statement is another reason. Without this case statement, a fundraising professional will experience difficulties in developing these program.
When developing planned giving programs, a leader needs to capture the attention of the donor. This is not as easy as it may appear when done. The fundraiser spends a lot of time with his Professional advisory board and developing appropriate policy guidelines. The procedural nature of developing these programs is time consuming and keeps individuals off. A fundraiser’s objective is mostly to capture the attention of the donor, in turn their commitment, trust and lasting relationships (Naskrent & Siebelt, 2011). According to the research by Khodakarami, Petersen & Venkatesan (2015), a major limitation to nonprofit organizations is developing long term relationships with foundations, donors and other corporate institutions.
Khodakarami, Petersen & Venkatesan (2015) suggests a measure of varying donations that takes control of a donor’s extent of giving. Diversifying donation initiatives helps in influencing philanthropists on giving across more fold programs. The need to analyze donor behavior is also very important. According to Naskrent & Siebelt (2011), donor retention should be looked at from a donor’s perspective. Marketing strategies and efforts employed an organization will determine donor’s commitment, trust, satisfaction and their retention (Naskrent & Siebelt, 2011).
References
Pagnoni, L.A. (2014). Chapter 11: Taking a new approach to corporate sponsorships. The nonprofit fundraising solution: Powerful revenue strategies to take you to the next level. New York: AMACOM.
Pagnoni, L.A. (2014). Chapter 13: Creating or advancing your planned giving program. The nonprofit fundraising solution: Powerful revenue strategies to take you to the next level. New York: AMACOM.
Naskrent, J., & Siebelt, P. (2011). The influence of commitment, trust, satisfaction, and involvement on donor retention. Voluntas: International Journal of Voluntary and Nonprofit Organizations, 22(4), 757-778
Khodakarami, F., Petersen, J. A., & Venkatesan, R. (2015). Developing Donor Relationships: The Role of the Breadth of Giving. Journal of Marketing, 79(4), 77-93.
Montgomery-Clark, S. (2015). Don't let planned-giving myths damage your future misconceptions about planned giving keep many leaders from reaping huge rewards. Nonprofit World, 33(3), 8-9.
