#1 Strategy to Finish Your Fiscal Year-End Over Goal
Is your fundraising team all set to meet your annual fund goal?
It’s always a big push – working to close those last minute donations to your nonprofit.
If your fiscal year closes on June 30th like many nonprofit institutions, then the race is on. It’s just around the corner, and all of your numbers will be totaled.
This post shares our number one tip to help your team zoom over goal this fiscal year-end.
Who are your top prospects to help you meet your year-end fundraising goal?
Where will the easy money come from, so to speak?
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We think, if you focus carefully, you can reach out to a particular group of donors who are highly likely to donate when you ask.
Who are your top prospects to meet your year-end goals? They are leadership annual fund donors who gave last year, but unfortunately they have not yet renewed their gift for this fiscal year.
They are about to become LYBUNTS, people who gave last year, but unfortunately not this year.
Our recommendation: focus on the largest “about to lapse” annual fund donors.
This one activity could make the largest difference in your fiscal year-end fundraising results.
A renewal reminder is the easiest ask to make.
Just think – these donors are already in your community. They are happy supporters of your cause. They are your tribe. So, ask your team to treat them like the insiders they are.
Gently reminding them that you hope they will renew their support is easy.
Think of it like asking someone to come volunteer again – you helped last year, so come on and help this year too.
Here’s how a strategy for organizing last-minute renewal followups:
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1. Who needs to renew their gift before year-end? Pull the list for fiscal year-end renewals.
Pull a report of everyone who made a larger annual fund gift last year, and has not yet renewed – these are the people you will focus on for the next two – three weeks.
Add up the dollar total of this list. These lovely people are about to become lapsed donors. (Oh dear!)
You just might faint when you see just how much $$ is on the line.
100% of your team’s focus for the next two weeks should be on renewing this special group.
2. Prioritize your list.
Start by identifying the people who will be most likely to renew their gifts – they may just need a quick reminder.
Or, you might decide to focus on your largest donors first – their renewed gifts could push your year-end numbers up very quickly.
Remember, many of your loyal donors DO NOT know that they are about to lapse.
They may think they’ve renewed their support. And, they may have simply forgotten.
So following up with them is simply the appropriate thing to do. Above all, it is NOT pushy or intrusive!
3. Reach out to these “about to lapse donors.” Ask them to renew.
Try these strategies:
Send Personal Notes:
You could distribute the list to board members who are willing to write a personal note as a renewal reminder.
Pick Up the Phone:
Everyone on the entire fundraising staff could make personal phone calls reminding donors about renewing. Or, pull in a volunteer team!
Send Personal Emails:
Try having your team craft very personalized, individualized email messages to these donors. Remember – the more personal, the more attention the email will get.
Sample renewal script for email or letter:
Dear Ms. Donor, you are so wonderful to partner with us this year as a donor and supporter.
You have helped (IMPACT statement: bring hope xxxx, clean streams, stage amazing artistic performances, feed hungry people in our community etc etc etc.) Thank you!
Thanks to you, (specific projects) have happened, with (impact and results).
I am writing you personally because our fiscal year is ending in two weeks — and we are hoping you’ll want to renew your support and remain a member of our community.
This year, we are asking our loyal donors to renew their support by xx amount to create xxxxx impact (or reach xxxxx people).
The kids (or frogs, or elderly, or students ) need your help if we are going to be able to xxx (add more about impact here.).
Please take a moment right now and send in a generous gift to help xxxx happen.
Sample renewal phone call script:
Hi, it’s Becky Smith, from xxxxx.
I want to give you a huge thank you for your gift to (organization) It’s awesome that you are such a generous supporter!
We are so thankful to have you in our family. (AFFIRMATION OF THE DONOR)
You may remember reading about xxx project that you helped fund.
Thanks to you, xxxx (describe accomplishment) and now here’s the impact of this xxxx (describe impact). (BE SPECIFIC WITH AN ACCOMPLISHMENT THEY MADE POSSIBLE)
What we are doing today – is a phone campaign so we can tackle this next important project.
We are asking our most loyal donors to renew their support XX amount to create XXX impact (or reach XXX people).
Most people are giving in this range of $xxx to $xxxx. How much would you like to give?
(Credit to the brilliant Simon Scriver for the phone call script.)
Bottom Line: Renew your about-to-lapse donors before fiscal year-end!
Those higher gift levels are just sitting there.
All your team has to do is employ the right strategies: The phone. The personal call or visit. The ask.
It’s not complicated! So give these strategies a try and watch YOUR year-end totals zoom up!
ABOVE ALL remember: Your donors may not even know that they have not given yet this fiscal year. It’s up to you to remind them!
