Your Mileage May Vary - Exploring Different Giving Vehicles for the Long-Term Journey

Your Mileage May Vary—Exploring Different Giving Vehicles for the Long-Term Journey

Colton C. Strawser, Ph.D., CFRE

The phrase “Cash is King” is true in the nonprofit sector, but sometimes playing the long game can get you further. Having worked with various foundations, I understand the power of long-term giving. Endowments can provide resources in perpetuity, but I also understand that the homeless shelter needs an additional $10,000 to cover its food bill for the month.

Diversification is key when it comes to running a successful nonprofit, but often nonprofits work to raise $1 million in the current year, and then they do it all over again the next year—it’s like a going away tour of an 80s rock band that never ends. Most fundraising professionals focus on yearly goals, rather than long-term sustainability; however, many giving vehicles that exist can help organizations develop funding now, but also in the future.

Educate Yourself on Different Options

I find that fundraising professionals can sometimes get caught up in the new and exciting giving options. For example, cryptocurrency is a popular topic, but the likelihood of your organization getting a crypto donation is slim to none—and it’s not a good idea for a variety of reasons. However, there are alternative giving options that are proven that many nonprofits do not know about, including bequests, trusts, donor-advised funds, real estate, and stock donations. Educating yourself about various giving vehicles can help your organization to continue engaging individuals that are passionate about your mission, but may not have mountains of cash lying around right now.

Use Accessible, Reliable Tools

The days of all your donors cutting checks are done, but there is also more advanced technology than simply creating a PayPal donation button on your website—which you can create without even being a nonprofit. A good donor database/software such as Little Green Light or DonorSnap can help you create a giving experience that is reliable and provides donors with a unique giving experience—versus giving through a questionable PayPal link.

Practice Good Fundraising Approaches

As the fundraising landscape continues to shift and change, it's imperative for nonprofits to keep up with best practices. By staying current, nonprofits can ensure they are raising the most money possible to support their missions.

Some of the key best practices for fundraising include diversifying your donor base, building strong relationships with donors, and creating a compelling case for support. As the environment around us changes, so do the ways in which we can best reach potential donors. By keeping up with best practices, nonprofits can ensure they are prepared to adjust their fundraising strategies as needed to continue meeting their goals.

About Colton C. Strawser

Dr. Colton Strawser is a nonprofit and philanthropic consultant as well as the President of Colton Strawser Consulting—a consulting firm that works with mission-driven organizations to develop the funding, data, and leadership skills necessary to create change. Dr. Strawser’s personal and professional mission is empowering organizations to create change and has received numerous awards in recognition of his academic, professional, and personal contributions to the nonprofit sector. Dr. Strawser has trained more than 1,000 organizations, generated over $25 million in government grants, and supported local and national research efforts to understand social issues and community challenges better.