Welcome to The Vegan Report, my name is Ryan and today let me ask you this. Do you know of any animal protection non-profit struggling to keep its doors open? Who came to mind when I asked this question? Did you think of an animal sanctuary you follow on Instagram? A vegan advocacy project you just can't get off the ground? Or maybe your local shelter? For me, I am reminded of a few cases. But the one that haunts me is a non-profit I volunteered for years ago.
Its mission was to provide emergency veterinary interventions at a discount rate for animals under the care of low-income or homeless people. The demand for them was immense, yet they did not have the funds to carry on their mission. And after a short three years of existence, they disappeared.
This episode is my attempt to address this problem, to prevent great animal protection organizations from closing their doors or from limiting themselves in all the good they could be doing due to a lack of funds. As you see, my day job is to be a fundraiser, and I pride myself in being successful in my job.
So, in this episode, I want to share five nuggets of fundraising wisdom I have acquired in my line of work with the hope that it can inspire and guide the fundraising efforts of pro-animal activists. So, please, for this holiday season, take this episode and offer it to the struggling pro-animal organization you were thinking about a moment ago. Or use this episode yourself to gain a new skill and fundraise for animals. Before we begin, please note that this is the last episode of 2024.
I will be back on January 7th, 2025, with a brand new episode. In the meantime, I hope you have a fantastic holiday season. Thank you so, so, so very much for being a listener of this show. Okay, let's go. I prepared some notes, but this is all dangerously unscripted. Nugget of wisdom number one. Don't be afraid of asking for help. Asking for funding can be an extremely uncomfortable experience. However, you don't have a choice on the matter. You need to make your expectations clear every time.
Study after study shows that if not solicited, people will not make a gift, even for causes they deeply care about. And the better you get at asking, the more successful you get at fundraising. And what is a successful ask? Well, that's a prepared ask. The standard is you need to create a solid case for your initiative. That means first defining who or what you are. You know, your mission, values, and vision. Then listing arguments that answer the question of why should we support you?
One argument could be that your project will have a huge impact. Also clarify what your needs are and what you are planning to do with the gift. And lastly, you need to express what you will do to acknowledge the donor. And that matters so much that I am devoting Nugget of Wisdom number five to it. And all of that, all of that case needs to be tailored to the person you are trying to inspire. The person or the audience, the group, the community. So get to know them.
Get to know that potential donor, what matters to them. Basically, how to speak their language and be able to connect with them. And all of this, all of this, you can think of it as something like a two pages business plan. And that preparation will make you feel, will certainly make you feel much more comfortable about reaching out to strangers and asking for their money.
But that might not be enough, even with all the preparation in the world, you might feel that this is still too much to handle for you. And in my experience, this has to do with the fear of getting rejected. Now, if someone says no, it's not the end of the world. In fact, I want you to think of it as an opportunity to become a better fundraiser, because then you can identify what went wrong and find a way to be even more persuasive in the future. So if someone says no, ask why.
And it is generally one of four options. One, you did not ask for the right amount. You asked for too much or too little. Two, you asked at the wrong time, too late or too early. Three, the project does not interest the donor. Four, the organization does not interest the donor. Negative wisdom number two, don't think you are begging for money. To lead a successful fundraiser, you need the right mindset. And that means understanding why people give.
And here, I'm not talking about why people give to your cause. I'm talking about why people give in general, on a macro level. And here is the answer. People give because it feels good. For some, giving is a way to connect with others or to define their place in society. Others think of giving as a spiritual act. After all, religious people tend to give more than non-religious people. Some give because it helps them deal with the pain, the experience, for instance, out of grief.
Keeping that in mind, you should look at fundraising not as begging for money, but as offering an enjoyable and meaningful experience in exchange of a gift, so to speak. Let me put it this way. As someone who enjoys giving, I am grateful that I am given the opportunity to support and help great causes that matter to me. I want to say thank you to my favorite organizations. Thank you for allowing me to play a role in all the good you are doing. And that's how every one of your donors should feel.
After making a gift to you, they should have a big smile plastered on their face. The memory of supporting you should be valued by your donors. So your challenge is to keep that experience enjoyable. And if possible, find ways to increase the happiness of your donors. Nugget of wisdom number three, stop focusing on small donors. Okay, that one might ruffle some feathers. Here is the makeup of a successful nonprofit. 20% of their donors are behind 80% of their total revenue.
And for the most successful nonprofits, it's more like 1% of their donors are behind 90% of their revenue. Putting all your energy on small donors, meaning people who make small gifts, can be a fatal error. Here is why. The resources you will invest on mobilizing them are not worth what you will get from them. It is not sustainable. It costs money to fundraise, and you need to think long and hard on what you will spend that money on.
For example, you might want to launch a direct mail campaign, which means in terms of expenses, purchasing paper, stamps, and envelopes. Now, how is your money best invested? Spending $1,000 on sending letters to 1,000 small donors who, if they decide to make a donation, will make a donation averaging $10. Or spending $1,000 on sending letters to 1,000 Franciscan communities, and as you might know, St. Francis is the patron saint of animals that have the potential to each make a $1,000 donation.
Better target the few donors out there who can make major donations and gain some of them to your cause, than tirelessly work to get small donations out of a sea of small donors. Negative wisdom number four. Cash is not all that you want. People can give a lot more than money. They can give their access to their platform for promotion purposes. They can give you the contact information of a potential donor and even facilitate an introduction with a donor.
They can make material donations such as paintings that you can later auction. They can give their services pro bono. The list is endless. Don't be narrow minded and only think about money. Look at the big picture and think strategically about your fundraiser. And even in terms of financial support, there is so much diversity. People can donate stocks. They can put you on their will. You can become the recipient of their life insurance policy.
If they are entrepreneurs, they can give you a percentage of the products they sell. You could get a donation in cryptocurrencies. Who said traditional currency donations are the way for you? Maybe you will get more successful targeting, let's say, Bitcoin's communities for your fundraiser. Who knows? Negative wisdom number five. Don't be a stranger. This is what we call stewardship.
In fundraising, stewardship is the practice of building and maintaining positive relationships with donors to foster ongoing support and engagement. You need to thank your donor several times. Showing your gratitude is a must. One mentor of mine would say, thank a donor seven times in every email you send them. Now this was a hyperbole, but she meant take every opportunity to thank them for their gift. But more than thanking them, you need to inform them of what you are up to.
Transparency is really important. In essence, you need to answer the question, what have you done with their money? But beside those basic points, you need to think about how to cultivate your relationship with a donor. The goal is for them to think that this is not an organization they are supporting, but their organization they are supporting. That your cause and your project is also their cause and their project. They are not on the sidelines anymore. They are players on the field with you.
If you want to know more about fundraising, if you want to get access to resources, classes, courses in fundraising, then check out the episode notes where you will find a link to the Association of Fundraising Professionals, a link to their website. The Association of Fundraising Professionals have all of that available to you. Some of their classes and conferences and all of that are free, others cost money. But they are a very important actor in the world of fundraising.
I would also invite you to check out their code of ethical standards. There are a lot of ethical dilemmas and issues raised by the activity of fundraising. It is always good to get informed on what to do when presented with those kinds of issues. As always, thank you so much for listening. I hope that this was helpful. Once again, I kindly invite you to share this podcast with the organizations or the activists who are struggling with their fundraising. I will see you in 2025 for a new episode.
Take care everybody.