Are you looking for ways to increase the donations your nonprofit receives while decreasing your administrative costs?
If you answered with a loud "YES," then a monthly giving program is something your nonprofit needs to start NOW!
Here are ten reasons why:
- Monthly giving programs are automated monthly donations that allow your donors to deliver to your nonprofit consistently.
- Setting up an automated monthly giving program will cut down on the administrative costs associated with manual donation collection.
- Consistent income from donations will allow your nonprofit to plan and budget.
- Research shows that yearly donor retention rates increase around 80% when donors participate in a monthly giving program.
- Donations will not fall through the cracks because the monthly giving program payments are automated.
- Decrease the environment's strain by using less paper—no need to mail in donation forms, envelopes, and stamps. Donors can view and pay online, electronically, and automatically.
- Monthly giving programs can help your donors become more involved and invested in your nonprofit because of the monthly updates and touchpoints.
- Donors may give more because the monthly contributions are broken up instead of one lump donation. Donors have the opportunity to set up a monthly payment amount that works for their budget.
- Your nonprofit can create a community around the monthly giving program members by connecting donors with each other, providing monthly updates on the progress of your cause. Everyone loves to see how their donation is helping the cause.
- Finally, a monthly giving program will help your nonprofit make an impact consistently.
Setting up a monthly giving program is a WIN for everyone involved. Come back next week for tips on how to start your monthly giving program. If you're interested in nurturing and building stronger relationships with your donors and volunteers, grab the Donor and Volunteer Appreciation Kit. It's a gift from the Center for Nonprofit Advancement.