Want to Keep your Mission Accomplished?
As a nonprofit organization, one of your priorities will always be raising enough funds to make certain your mission continues. Since the newly effective Tax Cuts and Jobs Act, questions regarding the impact on nonprofits continue to emerge.
Don’t just wait for the impact of the new tax reform law and how it might affect your fundraising efforts. Replace “wait and see” with action; make sure your benefactors remain loyal to your cause by incorporating a more proactive mentality now:
- Focus on relationships. Talk often with your donors and stakeholders. Make sure they know how you’re meeting your mission, the impact you’re having in the community, and exactly how their gifts make a difference.
- Build value for your nonprofit. Know your outcomes, the personal lives touched, and the specific positive impacts you create when you execute your mission. Then tell your story—repeatedly.
- Commit to donor retention. People give to you because your passion ignites their passion, regardless of tax implications. Connect with your donors and consistently engage with them through meaningful touch points such as social media, email, direct mail or even a live event. Keep your current donors engaged.
- Create differentiation among the sea of nonprofits. Donors want to know what makes your nonprofit uniquely qualified to solve problems and contribute to positive change. Ultimately, it’s not about the increase in tax deductibility or any other changes in tax reform. Setting yourself apart comes from your donors’ confidence in your organization’s ability to actually make a difference.
- Keep the faith. Donors give to charities for many reasons. Tax benefits routinely rank near the bottom on a list of reasons. Remember why your contributors initiated their giving efforts and remain confident that your nonprofit is worth it.
Donor questions about the impact of the new Tax Reform Act presents another wonderful opportunity to tell your story, share your successes, and involve your donors in your great work. Don’t be afraid to brag about the accomplishments your nonprofit achieved and the mission you plan to continue.
If you need assistance and guidance with how the new tax law affects your religious or nonprofit organization, or how best to communicate the changes with your donors, the experienced team at Online Stewardship Accounting & Consulting Services is here to help.
Contact us at Lynn@OnlineStewardship.com or 904-398-4747.
