Just In Case You Missed It
A recent report from the U.S. Trust Study of High Net Worth Philanthropy indicates that giving and volunteering will very likely increase in future years. The information comes from Claire Costello, National Philanthropic Practice Executive for U.S. Trust.
The study found that wealthy donors give, on average, to eight different nonprofit institutions. Older individuals give to more.
Donors over the age of 70 give to an average of 11 organizations. Those under the age of 50 give to an average of 5 nonprofits.
This next finding won’t surprise you.
When a high net worth donor volunteers with an organization, there is a strong relationship with giving. Eighty-four percent of wealthy donors give financially to at least some of the organizations with which they volunteer. Forty-nine percent give to most of the organizations where they volunteer.
It is a truism, fundraising 101— the more people are involved, the more they love you. And the more they love you, the more they give.
Volunteering plays a very important part in philanthropy. Wealthy individuals who volunteer give 56% more on average compared to the organizations where they do not volunteer.
They asked a question as to why they give to specific organizations. Tax benefits were at the bottom of the list. That doesn’t surprise you. At the very top was a belief in the mission of the organization. This is precisely what I have found in the studies I have done.
Don’t sell the features. Sell the vision and high aspirations of the institution.