Why Track?

It’s a familiar refrain, “I’m too busy with my fundraising activities to make notes about my donor interactions!” or “It would take hours out of my week if I had to record everything I do!” Too often fundraisers neglect an activity that should be second nature to them: keeping records of donor interaction that allow for the gathering of information over time and the assigning of a date for a follow up action, meeting or phone call. This information is critical for fundraisers to use when identifying and cultivating those donors who are most likely to become planned giving donors.

One of the most important long term assets a charity has is its knowledge and understanding of its donor base. As with most things in both for-profit and not-for-profit organizations, the success of the organization comes down to the relationships it builds between the organization (staff) and donors/clients. Accurate records of staff interactions with donors over the long term are the building blocks of good relationships. An effective system for recording all paper, e-mail and telephone interaction (and hopefully personal visits) with donors and professional advisors will allow charities to carry on meaningful relationships with these people over the long term and to withstand critical staff changes.

What to Track

By carefully collecting information now, your organization will build a rich resource that can guide future interactions with donors. This type of information can be collected in casual conversations and correspondence with donors and can be recorded on a donor data system, while respecting the donor’s expectations of privacy. By looking for certain demographic indicators, staff can review donor lists and determine which donors meet the profile of those most likely to have the capacity and an interest in making a planned gift. Your organization can then effectively provide these donors with the information they require to meet their philanthropic goals.

Also, when estate gifts begin to come in regularly, the careful recording of information will help staff during the estate administration process. In addition, it will help to identify family members who may wish to have an ongoing relationship with your organization and who may eventually become donors themselves.

Start tracking your interactions with professional advisors by first developing a list of advisors that you will be targeting for networking and relationship building. The list can be developed by looking for natural partners in the community – those people who have some connection with your organization already. An obvious place to start is with lawyers who contact you with regard to a client who is planning a gift to your organization, or insurance and investment professionals who express an interest in working with your organization as volunteer board members or committee members. Targeted professional advisors will have their commitment to the organization nurtured through one-on-one meetings, mailings, tours, invitations to events, etc.

How to Track

There are many software systems that can meet the relationship management needs of almost all organizations. It is best to shop and compare, as their capabilities and costs vary greatly. The system you choose should have a method for allowing you to classify donors according to certain attributes and then to extract donor lists based on these predetermined attributes. These attributes might include: year of birth, marital status, giving history,etc. The attributes should be designed to help you identify prospect planned giving donors quickly and easily. Whichever donor data system your organization chooses to use, staff must diligently record the following information on a daily basis:

• All interactions with donors including conversations (formal and informal), meetings, correspondence (including handwritten notes) with special care to record information that might identify the donor as a gift planning prospect.
  • Set a reminder for yourself to follow up with the donor on a specific date.
• All interactions with professional advisors.
  • Set a reminder for yourself to follow up with the advisor on a specific date.
• All estate administration related correspondence and conversations with executors, lawyers and donor’s families.
  • Set a reminder that identifies next steps with respect to the management of the estate file with a specific date assigned.
  • Set a reminder to follow up with the deceased donor’s family with an appropriate donor recognition/relationship building activity.

 

It is a good idea to review the current privacy legislation to be certain that your organization works within the confines of the legislated requirements at all times.

By taking the time now to record valuable information about donors and advisors that you gather in the course of your everyday activities, you will help to nurture these relationships and build a valuable asset that will help to sustain your organization in the future.

Leslie Howard is founder of Planforgifts.com, one of Canada’s premier web-based planned giving resources for charities, nonprofits, professional advisors, volunteers and donors. For comprehensive material on developing a planned giving program with downloadable examples, visit www.planforgifts.com and become a member.