Neglect Donors and Pay the Price

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November 3, 2010; Source: Fast Company | Maybe it’s because we just had an election that suggests important lessons about what happens when incumbents fail to live up to the expectations of their constituents, but there seems to be a parallel between this Fast Company article about how nonprofits suffer when nonprofits forget to let donors know how much they are valued and the sweeping change in Congress.

By neglecting to do five simple things, many nonprofits, according to author Alice Korngold, “scare away donors.” She says these most common mistakes are not saying thank you, taking donors on site visits, letting them know what their money is helping accomplish, providing opportunities for them to take part in service opportunities, and recognizing benefactors at events, on the website and annual reports. A good list. Easy to follow. And as Korngold says, by remembering these five steps, your fundraising “success will lead to more success.”—Bruce Trachtenberg