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!