Fundraising for Libraries
Presentation for the VT Department of Libraries by Christine Graham
Fall 2015
Concepts Basic rules and methods of fundraising apply to all
types of organizations
Like most things, your fundraising will benefit from: Planning and Focus Common sense Strategic thinking Listening Relationships
Fundraising has been around for eons: learn from others’ wisdom!
Seek Balance You can always raise more money from a few big
donors than many many ‘small’ donors, but you need both for the long haul.
You need to ask frequently because people forget, but if you ask TOO frequently, they are annoyed.
Not everyone wants to donate to a library, But they don’t even consider it if you don’t ask! And it’s not necessarily library users who will give!
The more traditional the cause (libraries, hospitals, humane societies) the more likely your ‘small’ donors will leave you a bequest!
The Way It Works $$$$$$ Major Donors: 7-
11 donors giving 40-60%
$$$ Transition donors: 10-40% of donors giving 20-40%
$ Grassroots and Community60-85% of donors giving 5-15%
The Donor Pyramid A snapshot in time, today
A review of the past
A way to project forward
AND
A way to understand changes in donor behavior
A way to encourage changes in giving
A SWOT analysis just for fundraising
Planning for prospecting, challenges, asking, timing.
Why People Give They Believe in the Cause: the MISSION
To Make a Difference
Because it feels good to help
Because someone they respect asked them
Because they or their family benefitted in the past
Because the organization is doing well
Donors are like you….
What Donors Want and Need To Know
What do you do? …and How?
Why is this important?
What is your impact on the community, individuals, kids, the future, our families?
How can you tell you are succeeding?
These answers form your CASE STATEMENT
How You Develop Support
Options Annual Campaign:
raise it now, spend now operations, programs, acquisitions, all OK
Capital Campaign: permanent assets like buildings and endowment
Planned Giving: for sustainability and permanence
You can and should do all of these….in time
The Organizational Life Cycle of Gifts
Library cards and Membership
Annual gifts
Special project gifts
Capital and endowment gifts
Planned gifts
Essentials for Annual Giving A Plan with solid timing: feet to the fire
A theme or message (don’t tell the whole story every time!)
Fast-read, visual impact, personal touch materials
A core group of top donors who get personal attention
Smart, growing prospect list
Reliable, easy database (and someone to use it!)
At least two mailings for grassroots and mid-level prospects
Correct and appreciative thank-you’s
Annual report of some type
An event, but not too many, not expensive, not a time-killer!
Essentials for a Capital Campaign
A true, expressed need
A plan that includes Assessing your donors’ interest and capacity Justified budget A manageable timeline A powerful ‘quiet phase’ that tests your goal before going
public
Modest, appealing, informative materials
A strong team of trained volunteers not afraid to ASK!
Understanding of donor interests, benefits, demands.
Stages of a Capital Campaign
Test #1: develop the Case Statement and Draft Goal, conduct a feasibility study
Expand or contract your plans based on the study
Quiet Phase: aim to raise 60% before public announcement
Test #2: determine your final goal based on quiet phase results
ANNOUNCE your goal and plans
Raise the next 30-35% in very personal ways from mid-level donors
Launch the Grassroots Campaign to finish the campaign
Celebrate!
Essentials for Planned Giving
Sufficient understanding of Planned Giving concepts among your staff and board
Access to a Planned Giving specialist
Groundwork for a variety of gift methods including annuities
Strong relationships with top donors and top prospects
A grassroots outreach program to invite hidden prospects.
A Legacy Society for donor recognition during life and after the gift is realized.
Your Goals Identify the financial needs of the library for the short and
long term. Balance realism and dreams.
Create a culture of philanthropy for your library, building an annual campaign first
Seek a combination of larger and smaller gifts (donors)
Foster relationships with prospects and volunteers
Listen to your library users and your community
Develop a simple, accessible, ongoing planned giving program
If you need a capital campaign, give yourselves time to plan!