Donor Commitment Revealed in Bank of America Study

 

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In November 2012, Bank of America and the Center on Philanthropy at Indiana University released its latest study of 700 high net worth donors. Each donor surveyed has a net worth of over $1 million, excluding the value of their home and/or has an annual household income of $200,000 or more. The 2012 study builds on similar ones conducted in 2010, 2008 and 2006. 

Why is this study important? Of the $300 billion donated to nonprofits in 2011, 70 percent was given by individuals. Half of that 70 percent was given by the wealthiest 3 percent of households.

Highlights of the study include:

• Giving as a percentage of household income held steady at 9% between 2009 and 2011, despite the economy
•  The more these donors volunteered, the more they gave. 54% of these donors volunteered more than 100 hours per year and 35% volunteered more than 200 hours
• 71% of these donors have a specific strategy in place to guide their charitable giving
• These donors were motivated to give by the following circumstances:
• Being moved by how a gift can make a difference (71%)
• Feeling financially secure (71%)
• Having an established history of giving to the nonprofit (69%)
• Feeling the organization is efficient (69%)

If you have a high net worth individual on your 2013 fundraising approach list, this study is a wonderful resource for becoming more donor-centered in your efforts. The study also underscores the critical nature of one on one conversations to determine if a match exists between your mission and the motivations of a potential donor. 

For more details on the study, including a link to the full 75-page report, click here.

Next Generation Philanthropy Study Highlights

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On June 26, 2012, Forbes brought together many of the wealthiest individuals in the United State for a private discussion of how to best help sold the world's toughest problems. The discussion was part of a larger Forbes 400 Summit on Philanthropy. The findings from this meeting were released in a report titled, Next Generation Philanthropy: Changing the World by Forbes Insights, the strategic research practice of Forbes Media.

Some report highlights of the estimated 264 high net worth respondents from around the world include:

• These givers are more interested in giving now than in leaving a legacy. They generally expect to see the results of their gift in their lifetimes.
• 54% plan to leave more than 25% of their assets to charity.
• 46% of those with more than $20 million in investable assets plan to leave at least half of their assets to charity. 
• 53% agree with the statement, "I find applying my business experience to my philanthropy is an effective and successful approach to giving." This number increases to 61% for those with assets over the $20 million.
• 70% say they are driven by personal values in making gifts to charities. 
• Family foundations become an important giving tool as assets grow. 
• 59% believe they are setting an important example for future generations. 42% have developed a succession plan for giving in those future generations. 
• 62% use some form of their own tracking to measure the results of their gifts.

 
For full details on the Forbes 400 Summit on Philanthropy, click here. 

What are your thoughts?

Attention Iowa Nonprofit Corporations: The Time for Renewing Your State Registration is Now

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Are you currently registered as a nonprofit corporation in Iowa? If so, it's the spring of an odd numbered year, which means it's time to renew your state registration.

Your registered agent should have recently received a mailing at the address listed with the Iowa Secretary of State's office. Simply follow the instructions on the mailing, log in and either reconfirm or change your information before the deadline. It's an easy step to overlook for small Iowa nonprofits, but a critical one to keep you current, legal and compliant in Iowa.

It is critical that you meet this deadline. If you don't follow this 5-7 minute process, your nonprofit will be administratively dissolved in the State of Iowa. This is not junk mail! 

Not sure if you are registered as an Iowa nonprofit? Follow these steps:
1. Visit http://sos.iowa.gov/
2. Hover over the Search Databases menu item and select Business Entities
3. Search for your nonprofit. Be sure to check any variations in how your name might be spelled or listed.
4. If your nonprofit is registered, you should see results that include a corporation number on the left side of the screen. On the right hand side of that same listing, you should see notice on whether your nonprofit corporation is in active, legal status or not.
5. Click on your nonprofit corporation number to reveal additional state details that include several links across the top of the screen under the heading Business Entity Summary. 
6. If you have questions, call the Iowa Secretary of State's office at (515) 281-5204.

Update your registration today!
 

SalesForce.com: A Potential Tool to Keep Your Nonprofit on Track in 2013

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In volunteer-based fundraising, most information exists in the heads of the its most passionate advocates. This is great, because that kind of volunteer involvement is the most credible kind of fundraising efforts. It's also challenging, because often, no written records exist of the great information for nonprofit continuity. 

If you're not already doing so, 2013 is a great time to start recording your organization's critical resource information in a contact management system.

One option to keep your nonprofit information on track in 2013: Salesforce.com. 

Salesforce.com, the popular contact management system from the commercial work, has a foundation that offers their services to nonprofits either for free or at a discounted rate. The program is called The Power of Us. 

For more general information on The Power of Us, click here.

For details on qualifications on The Power of Us program, click here.   

What's working for your nonprofit in terms of creating a record of your critical resources? Share your experiences below. 

Happy 2013!