With nonprofit organizations struggling to maintain support levels in the wake of the financial collapse, we were reminded this week of the critical importance of donor retention by the release of the 2008 Study of High High-Worth Philanthropy sponsored by Bank of America. This analysis of attitudes and behavior among donors highlights that nearly 60% of households who stopped supporting a charitable organization attributed their decision to a lack of ‘connection’ with the charities.
DAFs are playing a central role in helping to manage and direct the flow of billions of dollars of social capital from philanthropic families, and at even modest adoption rates these programs stand to capture and distribute funding totaling trillions of dollars over the next decade. Encouraging this growing flow of donors and charitable capital are an exciting array of features beginning to appear in DAF programs:
The latest DAF programs present all of the information and functionality donors need in the form of a personalized user Dashboard. Users see which grantee groups they are subscribed to, news that is of interest to them, conversations, grant status, and account balance – across multiple charitable instruments. Each donor may be working with a development officer or advisor and the dashboard includes a prominent personal photo of key contacts making it easy for the donor to initiate contact. The dashboard puts everything a donor needs right at their fingertips.
Thanks to features like these which are helping foundations and nonprofits deliver higher levels of service than ever before, these organizations will finally be able to increase the engagement and affinity levels of their constituency, dramatically improve donor retention, and better mobilize their donor’s contributions for the right strategic causes.
The DonorFirst™ platform is a service of Crown Philanthropic Solutions, LLC