Free online discussion tomorrow on Donor Retention

Per my Twitter feed, I will be co-leading an online chat on Donor Retention tomorrow through the Chronicle of Philanthropy. Join me!

http://tinyurl.com/cnvhx3

Retaining Your Best Donors

Tuesday, March 31, at 12 noon, U.S. Eastern time
As nonprofit groups grapple with the recession, many fund raisers are seeking out new supporters.

But what about those who already give? Many fund-raising experts say it is important for nonprofit groups to take extra steps to keep their best donors during difficult times.

What are some of the best ways to improve ties to donors? How much communication is too much? And what are some common pitfalls for fund raisers as they seek to strengthen bonds with supporters?

The Guests

Jeremy Gregg is vice president for development at the Center for Nonprofit Management, in Dallas. Previously he served as director of development at Central Dallas Ministries and at the Camp Fire U.S.A. Lone Star Council. He writes the Raiser's Razor, a blog for nonprofit fund raisers.

Stacy Caldwell is executive director for Dallas Social Venture Partners in Dallas. Previously, she was co-founder and communications director for the National Rural Funders Collaborative. Ms. Caldwell has also been a Texas delegate to the National Council of Nonprofits and a member of the Policy Working Group for the Texas Association for Nonprofit Organizations.

They will respond to questions and comments about these issues on Tuesday, March 31, at 12 noon, U.S. Eastern time. Readers are welcome to post questions and comments now.

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Case of the Week: Ralph -- The Major IRA Donor

Thanks to the Dallas Foundation for this Case of the Week:

Case
Ralph is a retired investment advisor. He watched his IRA blossom and grow through good investments. It now was the largest asset in his estate. Based on his age of 79 and the increased value, his required distribution this year was nearly $100,000!

Question
Ralph is a frequent volunteer for his favorite charity and wants to make a major gift to a special project. In October, he decided that he did not actually need the distribution for this year. With the growth of his IRA, it was logical to make the gift from his IRA. But how can this work? Is this a good tax planning strategy?

To view the solution to this Case of the Week, Click Here:

http://www.giftlaw.com/casewk.jsp?WebID=GL2002-0414&D=200843.

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What Wealthy Donors Care About

From Philanthropy.com:

New Study Sheds Light on What Wealthy Donors Care About; Many Say They Will Support Operating Costs

Interviews with 33 people who give away an average of $1.5-million annually, found that most had built businesses in finance, technology, pharmacology, and other fields. Several said they understood charities’ need for money to pay for overhead and other operating costs and were willing to provide it.

Read the rest here:
http://philanthropy.com/news/updates/index.php?id=5660

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Megatrends in Philanthropy

Phil Cubeta's recent post on Gift Hun, "Megatrends in Philanthropy: Towards Donor, Advisor, Nonprofit Collaboration," is well worth a read:

http://www.gifthub.org/2008/08/megatrends-in-p.html

Phil has several challenges for fundraisers to consider:

• Donors are not ATMs. They are people.
  
• The advisor is your partner, but can become an adversary if not engaged effectively. At the end of the day, they are likely closer to the donor than you -- so neglect their interests and concerns to your peril!
  
• Educating donors to be better donors is not just a good form of donor cultivation: it is your moral obligation as a fundraiser.

And, most profoundly:

"Why not align your giving programs with your institutional values and treat donors as cherished members of the kingdom of ends (Kant) rather than as means to an end? Get your giving process aligned with your deepest mission as an organization, and I (being a prize Fool) predict that your fundraising will flourish as never before."

Read the full article:
http://www.gifthub.org/2008/08/megatrends-in-p.html

Number of millionaires continues to grow...

$5.00 gas -- it's what's for breakfast. "I don't need your civil war ... It feeds the rich while it buries the poor."

The Wills, Trusts & Estates Prof Blog cites a report cliaming that the number of millionaires continues to grow:

Despite what some people deem a time of economic downturn, it appears that more individuals then ever are being financially successful. Here are some of the key findings from a report issued by Merrill Lynch and the Capgemini Group:

• Over 10 million people are millionaires, the highest number in history.
• Overall combined wealth of the millionaires increased by 9% from the previous year.
• Average wealth, not including homes, exceeded $4 million.
• The countries with the highest rate of growth include India, China, and Brazil.
• The United States still has the highest number of millionaires (one-third of millionaires live in the United States)
• The number of superrich ($30 million or more) also increased by 9%.

For more information, see Candice Choi, World now has 10 million millionaires, report says, CNN.com, June 24, 2008

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