What is a donor stewardship plan?
Donor stewardship is the relationship-building process that starts after a donor makes a gift to your nonprofit. To retain donors and make long-lasting connections, many organizations create a donor stewardship plan. These plans often outline communication opportunities and strategies for keeping donors engaged.
How is donor stewardship measured?
The absolute best metric in the stewardship space is your overall donor satisfaction rate on your annual endowment reports. Why? Because if we are going to spend months creating these reports, we need to know they are hitting the mark with our donors and fulfilling their purpose in stewarding donor funds.
What is a donor stewardship report?
Page 1. Stewardship Reports 101. June 2012 Page 2 Well-crafted stewardship reports demonstrate to donors: • the positive impact of their gifts, • that their donations are being used according to their intent, • that we appreciate their generosity, • and that there are opportunities for their continued support.
What is the difference between stewardship and donor relations?
Stewardship is related to the gift. Donor Relations is about the donor. Stewardship is tied to the gift the donor gives ; one cannot steward a donor, only their giving.
What is a stewardship strategy?
What is a stewardship strategy? A stewardship strategy involves having a systematic approach in place to cultivate and improve your relationships with donors, but it also moves your donors towards a deeper involvement.
How is donor satisfaction measured?
Customer Satisfaction (or C-SAT) can be used in two ways. Firstly, it can measure of how satisfied the donor is generally with the way you communicate with them. You can also use C-SAT to measure satisfaction after each Moment of Truth.
What should be included in a stewardship report?
A Stewardship Report (including a general financial report, a brief summary of how the funding was used, and/or the impact of the gift) states how funds were used. A stewardship report may not be a detailed technical report. However, if publications result, copies of such publications may be shared with the donor.
What are examples of stewardship?
Stewardship is taking care of something like a large household, the arrangements for a group or the resources of a community. An example of stewardship is the responsibility of managing the staff of an estate. An example of stewardship is the act of making wise use of the natural resources provided by the earth.
How do I track my donor retention?
You can calculate your nonprofit’s donor retention rate by dividing the number of repeat donors this year by those that donated last year. For example, if you have 159 donors who gave again this year, but had 300 who gave last year, your donor retention rate would be 53%.
What is a good nonprofit donor retention rate?
The average donor retention rate is hovering around 40-45% across the nonprofit sector. This means that if 100 donors give to your organization in a given year, then only about 40 of those donors will give again the following year.
What is a good ROI for fundraising?
According to Charity Watch, a good expense ratio to aim for is 35 percent or less. This means that for every $100 raised, your organization should have paid $35 or less. It is important to remember the expense ratio will vary slightly depending on the size of the organization.
Should your nonprofit have a stewardship calendar?
Smaller or newer nonprofits may choose to seek out calendar software to keep track of their stewardship efforts rather than investing in a full-fledged donor database. Calendar software can be used to schedule specific stewardship meetings, events, and interactions.
How to make a donor stewardship plan for your nonprofit?
How to make a donor stewardship plan for your nonprofit Step 1: Form a donor stewardship planning team.. If your organization hasn’t done any stewardship work beyond thanking… Step 2: Segment your donors into categories or levels.. Once you have a team, work together to decide how to split your…
What is a stewardship event?
Stewardship events are your chance to recognize your donors in person. Events can vary from casual outdoor cookouts to formal major donor galas. Knowing your donors’ preferences can help you plan the best possible event. Recognition programs may publicly thank donors over certain intervals.
What is donor cultivation and stewardship?
Donor cultivation is a necessary aspect of donor relations that focuses on understanding how a donor’s wants can align with your organization’s needs. Cultivation and stewardship are similar, but stewardship centers around donors and cultivation centers around prospects.