- October 22, 2018
- Posted by: The Partners
- Category: Philanthropy Counts
Published April 3, 2013
Why do high net worth donors give?
In a recent study, high net worth ($5 million and over) donors were asked what motivated them to make a gift. Three out of four indicated they felt their gift could make a significant difference.
I’m convinced that’s what donors want. They want to make certain the dollars they provide are helping change lives and save lives.
It is up to you to tell your donors how the funds are being used. You will want to let them know how effectively the money is being spent and how lives are being touched.
In the same study, it was clear that donors do not want to change the pattern of their giving. Sixty-nine percent, or seven out of ten, report they give to the same organization because they have been giving to that organization over a number of years. They indicate they feel the organization they are supporting is doing an effective job in spending the money their gift provides.
It was almost unanimous that these wealthy donors feel a great sense of joy in making their gift. They all reported this. This likely won’t surprise you. We know full well the fulfillment donors experience when they know they are making a difference in the lives of those the organization serves.
This points out one of the great truths we all know. If you do a careful and systematic job of keeping your donors informed and thanked, they will continue giving to your organization. Informed and thanked!
The study showed very few incidents of those who stopped giving because of the economy or their own financial situation. Note what comes next.
They stop giving because they didn’t feel their gift made a difference. They didn’t believe their funds were used wisely. And they weren’t told how the funds were used.
Here endeth the lesson for the day.
– Jerry Panas