June 30 is fast approaching – and for many nonprofits, this marks the end of another fiscal year.
This is obviously a time that organizations are busy finalizing budget details, putting together the numbers of your IRS 990 filings, etc. The Nonprofit Hub published a list of things nonprofits should consider at this time for financial & accounting teams that may of you may find helpful.
But what can you be doing for your donors?
Donors may not necessarily care when your fiscal year ends. But, since June is the second best time for contributions (trailing only December) … there may be some ways to use this time as a great ‘excuse’ to communicate with your supporters.
Here are a few ideas of things you can do to help in your fundraising efforts as you approach the end of your fiscal year:
1. Run your LYBUNT Reports
Run a “last-year, but not yet this year” report based on your fiscal year for different giving segments. Send a donor-centric appeal to them to make sure they are retained and continue to support your mission.
2. Clean Up Your Data
If you have constituent records who have not donated a gift in the last 7 years … should you keep them in your database? This could be a good time to make sure your data is usable — and get rid of those records that clog up your system. Maybe use the 0 / 10 / 90 Rule to determine who should stay or who should go:
- People Responsible for 0% of your funding, remove all except:
- Previous above-average donors
- Previous/current board members
- Top Volunteers
- People Responsible for 10% of your funding: keep these people, but communicate only in automated ways
- People Responsible for 90% of your funding: Focus the majority of your efforts on these people!
3. Set the stage for your end-of-calendar-year appeal NOW
Don’t wait until October or November to think about what you will send your supporters at the end of the year. Build a strategic and cohesive communications strategy and let this mid-(calendar)-year touch-point build a foundation for an ask later this year.
4. Simply say thank you for their support!
Is there ever a bad time to send a thank you?
So take advantage of this time to build better relationships and connect with your donors in new and creative ways.
Happy new (fiscal) year!