The title of the article, “Tips for Getting to Know Your Major Donor Prospects”

4 Tips for Getting to Know Your Major Donor Prospects

Major gifts continue to sustain nonprofits, representing almost 75% of total fundraising dollars in the latest Fundraising Effectiveness Project report. 

To maintain this momentum and secure more major gifts for your organization, it’s critical to target the right prospects and get to know them personally. After all, prospects need to trust your organization before they’ll consider giving, and this trust goes both ways. In this quick guide, we’ll explore a few tips you can use to cultivate relationships with major donors that inspire giving and loyal support.

1. Analyze your prospect research findings.

If you’re ready to cultivate a major donor prospect, then presumably you’ve already conducted thorough prospect research to verify their capacity (wealth), affinity (warmth), and propensity (habits) to contribute a major gift. Whether you outsourced this process to a consultant or researched internally, you should have a variety of data points for each prospect. 

Analyzing these findings will help you get to know major giving prospects before you even reach out to them, providing you with a solid foundation for your cultivation efforts.

In particular, pay attention to the following information you glean from prospect research:

  • Giving and involvement history: A prospect’s past donations and engagement with your own nonprofit tell you which cause areas, types of campaigns, and involvement activities they prefer.
  • Affinity for certain causes: If you discovered that your prospect contributes to other organizations and/or political campaigns related to a certain aspect of your cause, you can zero in on this part of your work to solicit their support.
  • Philanthropic habits: Note not only which nonprofits prospects donate to, but also how they give. Do they typically give large one-time gifts? Annual donations? Gradually increasing gift sizes?
  • Affiliations with local businesses and community leaders: Analyzing prospects’ connections can provide insight into their priorities and point out mutual connections your nonprofit can leverage in the cultivation process.

Of course, you should consider all of this analysis alongside the capacity data you gleaned from your initial wealth screen to get an accurate picture of the prospect’s giving potential. Focus on those who you know have the means to donate at the level your organization needs.

2. Meet with prospects regularly.

Face-to-face interactions are the best way to build relationships. As you create major donor cultivation plans and schedule outreach cadences, prioritize in-person meetings as much as possible to better connect with prospects. Plan several types of meetings, such as lunches, meetings for coffee, conversations at events, phone calls, etc. 

Every time you meet with a prospect, take detailed notes in your nonprofit’s CRM. Record both large and small tidbits of information, such as:

  • Personal details: This includes anything from the names of important family members to details about their career and philanthropic history.
  • Opportunities they seem interested in: Observe their reactions to different projects, programs, and campaigns you discuss to discover which they might want to support in the future.
  • Stated preferences: Your prospect might casually mention that they like receiving direct mail or dislike auctions, and adhering to these preferences in the future will show you were paying attention.
  • Topics to bring up again: Note anything you want to check back up on, from their upcoming vacations to any concerns they mentioned about one of your projects.

These details will help you understand the prospect better and deepen your relationship with them. You might also pick up on their preferences for donor recognition, which will be important for the stewardship stage of the major gift fundraising cycle. According to Fundraising Letters, recognition should be as personal and relevant to the donor as possible for maximum impact on donor retention. 

3. Discuss their philanthropic priorities.

Getting to know personal details about your prospect helps you build rapport and find common ground, but don’t forget to explore their charitable interests, too. After all, you’re ultimately trying to acquire a major donation, and you need to know exactly what initiatives or programs the prospect would like to support.

In your face-to-face meetings, check-in calls, and discussions with prospects, focus on discovering each prospect’s giving priorities. Gradually collect information to answer questions like:

  • What aspects of your organization’s mission mean the most to them? 
  • How did they become interested in certain causes? 
  • What organizations and causes have they supported in the past, and why?
  • Which upcoming projects, campaigns, and programs are they most excited about?
  • Are they interested in non-traditional forms of giving, like cryptocurrency?

These answers will help you tailor the giving and involvement opportunities you share with prospects down the line. For example, if you find out that a prospect named Shelly thinks the scholarships your organization gives to underprivileged high school students are life-changing, you might dive deeper into this topic and ultimately ask for a major gift to your scholarship program.

4. Send personalized invitations to other involvement opportunities.

Remember that keeping major donors involved in activities beyond giving is also a crucial part of donor stewardship and retention. The more you learn about prospects’ involvement preferences now, the better you’ll be able to steward them after they give.

Use the information you’ve gleaned so far to send tailored invitations to prospects. Donorly’s major gift fundraising guide suggests inviting prospects to fundraising events, volunteering opportunities, personal tours of program sites, or dinners with board members, depending on their individual interests. Each of these opportunities will help prospects connect more deeply with your organization and learn more about why they should support your work.

Plus, any in-person involvement activity gives you a valuable opportunity to get to know the prospect better by seeing them interact with your mission up close. Pay attention to how they engage with others, what questions they ask, and when their eyes light up to learn more about their interests and giving motivations.

Getting to know major donor prospects is only a small part of the full fundraising process. If your organization wants expert advice or support identifying, cultivating, soliciting, or stewarding major donors, don’t be afraid to reach out to a fundraising consultant. These professionals can help you improve your major giving strategy in both the short and long term to boost fundraising revenue.

The title of the article, “How to Streamline Your Nonprofit's Payroll Process.”

How to Streamline Your Nonprofit’s Payroll Process: 3 Tips

Administrative tasks are the foundation upon which your nonprofit’s accomplishments are built. When your organization t operates efficiently, you can spend less time worrying about internal tasks and more time fulfilling your mission.

Administrative tasks aren’t strictly limited to organizing donor data or handling cash and non-cash donations. Recording financial transactions so that you can produce a financial scorecard monthly is just as important to long-term sustainability.

Payroll is one of the largest expenses a nonprofit incurs. Therefore, preparing it is an essential administrative process that often can be streamlined while still ensuring that your organization complies with legal obligations and compensates its hard-working employees. In this guide, we’ll explore three ways to streamline payroll.

1. Partner With a Professional Employer Organization (PEO)

When it comes to managing your nonprofit’s finances, you’ve likely considered outsourcing accounting to an experienced professional. But have you considered outsourcing your employment practices as well?

Professional employer organizations (PEOs) provide expert resources in payroll, human resources, tax compliance, and more. This enables your nonprofit to:

  • Lower the cost of benefits through economies of scale: Chazin & Company explains that PEOs leverage the collective bargaining power of multiple organizations to negotiate lower rates for health insurance and other employee benefits. As a result, your nonprofit can offer competitive benefits packages without financial strain and can even reallocate its savings toward your organization’s mission.
  • Reduce the risk of legal complications and financial penalties: PEOs are familiar with federal and state compliance requirements related to hiring and employment practices. Partnering with a PEO provides access to their expertise, often backed by years of experience and specialized knowledge.
  • Eliminate the need for an in-house HR department: Instead of developing an in-house HR department to hire candidates with adequate qualifications and conduct staff training, partnering with a PEO allows your nonprofit to access personnel support without needing to fund an entirely new department.

If your organization decides to work with a PEO, look for experienced and knowledgeable professionals with certifications in HR and payroll management. Certifications such as Certified Professional in Human Resources (PHR), Senior Professional in Human Resources (SPHR), and Certified Payroll Professional (CPP) indicate that the PEO’s staff bring reliable expertise to the table.

2. Simplify Your Payroll Process

There are a lot of moving parts in a nonprofit’s payroll process. For example, you’ll withhold money from employees’ paychecks to pay certain taxes, but not from contractors’ paychecks since they pay their own taxes. Volunteers, on the other hand, shouldn’t be compensated at all, aside from non-monetary thank-you gifts.

Be sure to properly classify everyone who works for you to keep your records accurate. Also, track essential employee information, such as:

  • Social Security numbers
  • Withholdings
  • Benefits
  • Overtime
  • Bonuses

Along with keeping your records organized, compensation practices impact your nonprofit’s overall cash flow. As Double the Donation explains, a healthy nonprofit operating reserve should be sufficient to cover one full payroll cycle, including taxes. This means you’ll need data on each employee’s overtime pay and bonuses to accurately calculate your payroll obligations.

To make tracking compensation easier, establish a standard pay schedule for every employee. Standardizing pay periods reduces the amount of time spent tracking each employee’s pay. Plus, your team will know exactly when to expect their paychecks, fostering trust in your organization.

3. Maintain Compliance

As a nonprofit leader, you’re likely no stranger to the compliance requirements necessary for maintaining tax-exempt status. These regulations extend to payroll processes, as well, and can lead to significant financial penalties if not followed.

Specific regulations include:

  • Tax exemption: Just because your nonprofit has tax-exempt status doesn’t mean it’s exempt from paying all taxes. Organizations must withhold and file Federal Income Taxes (FITW) and Social Security and Medicare Taxes (FICA) on behalf of their employees. Additionally, most employers must match and remit FICA taxes withheld.
  • Fair Labor Standards Act (FLSA): According to the Department of Labor, The Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments. Non-profit charitable organizations are not covered enterprises under the FLSA unless they engage in ordinary commercial activities that result in sales made or business done, such as operating a merchandise shop or providing veterinary services for a fee. If your nonprofit is engaged in activities subject to the FLSA, you’ll likely need to familiarize yourself with this act’s provisions.
  • Wage requirements: Nonprofits must follow federal and state wage laws that require employers to pay minimum wage. When paying more than minimum wage, compensation must be reasonable but not excessive. To familiarize yourself with appropriate compensation amounts and potential overtime requirements, review your state’s laws and industry standards.
  • Unemployment compensation: While 501(c)(3) nonprofits are exempt from filing Federal Unemployment Taxes (FUTA), they must still adhere to their state’s unemployment program requirements. This means either contributing to the state’s unemployment program or annually reimbursing the state for paid unemployment benefits.

Compensation laws and regulations may change, meaning your nonprofit must check in regularly to determine whether there have been any updates. To check for changes, the IRS website is a great resource. Additionally, local and state government websites also lay out tax laws that vary by municipality.

You can also brush up on nonprofit accounting basics to learn more about compliance standards your payroll (and other financial) processes must follow. Also, consulting a CPA can help you access the professional insight needed to ensure your finances are in order.

Along with the benefits your nonprofit can realize from a streamlined payroll process, your employees will also appreciate their employer maintaining an organized approach to compensation. With the right practices in place, your nonprofit won’t just retain employees and boost team morale—you’ll do the right thing by taking care of the team that makes your mission possible.

The article’s title, “Key Considerations for Choosing the Perfect Event Venue.”

8 Considerations for Choosing the Perfect Event Venue

Selecting the perfect event venue is a critical step in the planning process that can significantly influence your event’s success. The venue sets the stage for the entire experience, from its atmosphere and accessibility to the resources available for your attendees.

A well-chosen venue can enhance engagement, support your event’s objectives, and reflect your organization’s values. This guide outlines key considerations for finding a venue that aligns with your event goals and creates a seamless and memorable experience for everyone involved.

1. The Purpose of Your Event

Before exploring venue options, it’s essential to clearly understand your event’s purpose and objectives. Whether you’re hosting a conference or a fundraising gala, your venue should support and enhance the event’s primary goals.

Consider the following when defining your event’s purpose:

  • Event Goals: Are you aiming to educate, inspire, or connect attendees? Understanding the primary goal will help you choose a venue that facilitates the desired interactions and activities.
  • Audience Engagement: Consider the type of experience you want to create for attendees. For example, a venue with flexible spaces can accommodate both formal presentations and informal networking sessions.
  • Event Format: Think about the structure of your event. Will there be breakout sessions, panel discussions, or hands-on workshops? The venue should be versatile enough to adapt to different formats and schedules.

By aligning your venue with your event’s purpose, you set the stage for a successful and impactful experience.

2. Location and Accessibility

Selecting a venue with the right location and accessibility is key to maximizing attendance and ensuring a positive experience for all participants. A centrally located venue makes it easier for attendees to reach the event, especially if they are traveling from different regions.

When assessing potential venues, consider:

  • Proximity to public transportation, highways, and airports to accommodate both local and out-of-town guests.
  • Parking availability and/or shuttle services if space is limited.

Additionally, ensure the venue complies with ADA guidelines by providing accessible entrances, restrooms, and seating for attendees.

3. Venue Capacity and Layout

The size and layout of your chosen venue can significantly affect the comfort of your attendees and facilitate the flow of your event. A venue that is too small can feel cramped and chaotic, while one that is too large may seem empty and disengaging.

Aligning the venue with your event’s format and attendance expectations is essential. When evaluating a venue for capacity and layout, consider these key points:

  • Capacity Requirements: Match the venue capacity to your expected attendance, accounting for different areas such as main sessions, breakout rooms, and networking spaces. Ensure there is enough space for everyone to move around comfortably.
  • Flexible Layout Options: Look for venues that offer a variety of room configurations to suit your event’s needs. For example, classrooms for workshops, theater setups for presentations, and open areas for networking or exhibitions.
  • Flow and Accessibility: The venue should support a smooth flow of movement. Attendees should be able to navigate easily between different event areas, such as check-in, main sessions, and breakouts.
  • Additional Space Needs: Determine if you need extra space for exhibitors, sponsors, or interactive activities. A venue with versatile spaces can help you incorporate these elements without disrupting the main event.

Choosing a venue with the right capacity and layout ensures that your event runs smoothly and creates a comfortable and engaging environment for all participants.

4. Technology and AV Capabilities

In today’s digital age, robust technology and audio-visual (AV) capabilities are essential for delivering a seamless and engaging event experience. From event check-in kiosks to live streaming to interactive sessions, the right tech setup can elevate your event and ensure that all attendees, whether in-person or virtual, can fully participate.

When assessing a venue’s technology and AV capabilities, consider these options:

  • Internet Connectivity: Reliable, high-speed internet is a must, especially for hybrid events or those requiring live streaming. Check for Wi-Fi availability and any associated costs for access.
  • AV Equipment Availability: Check if the venue provides essential equipment such as projectors, screens, microphones, and speakers. Verify the quality and compatibility of these tools with your presentation requirements.
  • Technical Support: Look for venues that offer on-site technical support during your event. Having a dedicated AV team can quickly resolve any issues, minimizing disruptions and ensuring a smooth experience.

Selecting a venue with strong technology and AV capabilities ensures you can keep your audience engaged and prevent unexpected issues from popping up during your event.

5. Ambiance and Brand Alignment

The ambiance of your chosen venue plays a pivotal role in shaping the overall experience of your event and reinforcing your organization’s brand identity. When evaluating venues, consider how the style, decor, and atmosphere of the space will resonate with your attendees and reflect your organization’s values.

A venue that aligns with your event’s brand can make your event feel more cohesive and memorable. For example, a modern, minimalist venue might suit a forward-thinking, tech-focused event, while a historic or elegant location could be ideal for a more formal, traditional gathering.

Ultimately, choosing a venue that matches the tone and spirit of your event will create a more engaging experience for attendees and help communicate your brand’s story effectively.

6. Catering and Refreshments

The right catering can enhance your event’s atmosphere, keep attendees energized, and even serve as opportunities for networking. When choosing a venue, consider how you’ll handle catering and refreshments to meet the needs of your guests.

Here are some key considerations:

  • In-House vs. External Catering: Find out if the venue has in-house catering or if you need to hire external vendors. In-house catering can be more convenient and cost-effective, but external vendors may offer more customization.
  • Menu Variety and Dietary Accommodations: Include diverse options in your menu to cater to different dietary needs, such as vegetarian, vegan, gluten-free, and allergy considerations. A flexible menu can make all attendees feel welcome and included.
  • Service Style and Timing: Decide whether you prefer a formal sit-down meal, buffet, or casual food stations. Align the service style with the event’s format and schedule to ensure smooth transitions between activities.
  • Budget and Package Options: Review the catering costs and what’s included in the package. Look for venues that offer customizable packages to fit your budget, including options for coffee breaks, snacks, and meal service.

Well-planned catering and refreshments will contribute to a positive attendee experience, helping your event run smoothly and keeping participants engaged throughout the day.

7. Contract Flexibility and Terms

The terms of your venue contract can significantly influence your event planning process. Having a clear, flexible, and fair contract is essential for protecting your organization and facilitating a smooth planning experience.

One of the primary aspects to consider is the cancellation policy. Ensure you understand the terms, including deadlines and penalties, if your event needs to be postponed or canceled. Knowing these details upfront allows you to mitigate financial risks and make informed decisions should unforeseen circumstances arise.

Another important element is the flexibility to change dates. Look for a venue that allows for date adjustments with minimal fees, which can be a lifesaver if unexpected changes occur in your event timeline.

It’s also vital to confirm that the contract includes force majeure clauses, which protect both parties in the event of uncontrollable circumstances such as a natural disaster. These clauses provide a legal safeguard and help avoid disputes in situations beyond your control.

8. On-Site Support and Services

A venue’s on-site support and services can significantly impact your event’s success. Having a dedicated team to assist with logistics, technology, and attendee needs ensures a smooth and professional experience for everyone involved.

Keep an eye out for the following:

  • Event Coordinators: Look for venues that provide an on-site event coordinator to help manage logistics before and during your event. They can serve as your primary point of contact, helping to address any issues quickly.
  • Technical and AV Support: Ensure there is a dedicated technical team available to handle any AV or tech-related problems that may arise. This support is crucial for keeping presentations and activities on schedule.
  • Logistical Support: Assess the availability of additional services such as security, parking attendants, or setup and teardown assistance. These services can significantly reduce the burden on your team.
  • Extra Services and Amenities: Some venues offer additional services like marketing support, integration with event management tools, or access to vendor networks. These can enhance your event’s reach and impact.

Having robust on-site support helps your team focus on delivering a successful event without getting bogged down by logistical challenges.

Choosing the perfect event venue requires careful consideration of numerous factors, from location and capacity to technology and contract terms. By taking the time to align your venue choice with your event’s goals and your organization’s values, you can create a memorable and impactful experience for your attendees and a profitable event for your organization.

Remember, the right venue not only supports the logistical needs of your event but also enhances its overall success by providing a welcoming and engaging environment for guests. With thoughtful planning and attention to detail, you can ensure that your next event is not only well-organized but also truly unforgettable.