What Motivates Donors to Give?
As a non-profit organization dependent upon the support of the community, and especially upon the funding from donors, you may be wondering, what motivates donors to give? Once you know what some of the key drivers are, your organization can procure and grow its relationship with all types of potential donors.
Of course, one of the top reasons a donor gives to your organization is because they feel moved by your mission. Whether your mission affects them or someone they know personally, or they realize how vital your mission is to the community, your mission is the key selling point to any and all types of donors.
How the Money is Spent
Speaking of the importance of your organization and mission, donors also want to see that their money is being used resourcefully and funding what they think it should be going towards to make a difference. As such, specific programs or services you provide can also influence donors. If you have programs unique in the community, you have a new service your organization will provide, or maybe you ask for a donation for a specific upcoming event, donors are more likely to contribute to your causes. If your organization has run a capital campaign in the past, you know that this can prove a big success. Many organizations running capital campaigns state they will focus the funds into a certain area or program, such as construction of a new building for operations.
Sometimes It Pays to Feel Good
Sharing a success story from your organization helps to put a face to the organization and pulls on the heartstrings of donors, making them want to give to continue your success. You may also perform an event each year that influences the emotions of donors. These events could be anything from a bake sale where the people uplifted by your organization help out, or having one of your clients speak at a banquet to potential donors about how your organization has benefitted them.
Other Times It Feels Good to Pay
Finally, we all know some donors give to receive some of the tax benefits. Although the standard deduction rose in 2018 with the Tax Cuts and Jobs Act, this could prove to be good news for non-profits, as donors may want to give more to receive the tax benefits in the upcoming years.
As your organization may receive many different types of funding from individual donations to grants, always feel free to reach out to any of the KTLLP Nonprofit Team members if you have questions on the proper accounting treatment, and we would be more than happy to work with you!