In this episode of IMPACTability: A Nonprofit Leaders Podcast, host Josh Hirsch, MS interviews Abby Jarvis from Neon One about the latest recurring giving report. The report examines the growth and changes in recurring giving from 2018 to 2022, focusing on three revenue bands: small nonprofits (less than $1 million), mid-sized nonprofits ($1-5 million), and large nonprofits ($5 million or more). The study reveals interesting trends and patterns in donor behavior and provides insights for nonprofits to improve their recurring giving programs.
Takeaways
- Recurring giving has grown and changed over the past five years, with significant increases in donor engagement and philanthropic giving.
- Smaller nonprofits have shown tenacity in regaining revenue levels and donor engagement after a dip in 2019.
- Recurring donors give only 17% less than non-recurring donors, indicating that small nonprofits are doing a good job of inspiring their most committed supporters.
- Mid-sized nonprofits have the longest donor lifetimes, averaging over 10 years, suggesting they have effective strategies for building long-lasting relationships with their supporters.
- Large nonprofits have seen growth in revenue and donor numbers, but there is a need to focus on reconnecting with communities and diversifying donor bases.
- Nonprofits can start by enabling recurring donations and inviting donors to support them in this way. Experimentation and growth are encouraged.
- Tailoring suggested donation amounts based on donors’ past support can have a significant impact on giving patterns.
- Now is the perfect time to start cultivating recurring donors, as the data shows that communities are ready to support nonprofits in this way.
Chapters
00:00 Introduction to Impactability and Guest Introduction
01:29 Overview of the Recurring Giving Report
04:26 Trends and Patterns in Small Nonprofits
09:44 Building Long-Lasting Relationships: Mid-Sized Nonprofits
20:55 Challenges and Opportunities for Large Nonprofits
26:38 Getting Started with Recurring Giving
28:30 The Power of Tailored Suggested Donation Amounts
35:27 Conclusion and Final Thoughts
Guest Bio
Abby Jarvis is a writer, marketer, and Head of Content at Neon One. She’s passionate about giving nonprofits the tools they need to connect with their supporters. Her 10 years in the nonprofit technology industry have been dedicated to understanding how and why donors support their favorite causes, studying donor trends and behavior, and sharing data-backed best practices nonprofits can use to build successful fundraising programs.
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