You are all aware of the importance of donations in assisting your organisation or charity in carrying out its purpose. However, you may be unaware of the donations you could receive. You can access a whole universe of fundraising options! In this article, you will go over the various forms of donations. So that you meet all of your goals this year.
Let’s have a look at all of the donations your organisation might receive.
- One-time donations.
One-time donations are the most prevalent sort of donation that NGOs and charities get. This refers to any sum of money provided to an charitable donation. These donations can be made online, by phone, mail, or in person. You may easily include a one-time donation interval when customising your donation form.
- Recurring donations
Recurring donations are computerised payments made by the same donor regularly. This means that your contributors give on a daily, weekly, bimonthly, monthly, quarterly, or annual basis, depending on their preferences. On your donation form make sure to include an option for recurring donations. Recurring donors donate 42% more annually than one-time donors. Just choose the intervals (daily, every week, every two weeks, monthly, quarterly, or annually) while customising the donation form. You can choose, up to four periods and highlight the one you desire.
- Planned contributions
Planned giving, often known as legacy giving, refers to substantial gifts a charity can receive through donors. Donors typically plan such donations as part of their broader financial or estate planning strategies.
The contributions include –
- Options for transferring assets include bequests,
- Charitable trust payments,
- Life insurance, and
- Retirement payments.
These contributions add significant value to your organisation. Donors also appreciate the ability to include a non-profit or charity in their scheduled giving. This is a significant aspect of their history and relationship to your purpose.
- Tribute and memorial donations
People frequently donate in honour or remember someone they love. They may also be interested in celebrating significant occasions such as birthdays. If you provide an option on your gift form, the donation is known as an obituary or memory donation. You can also launch dedicated programmes to encourage contributors to give tribute gifts on occasions like Father’s Day or Mother’s Day.
- Stock donations.
Instead of cash, some contributors may want to gift securities like stocks, mutual funds, and even bonds. When someone gives stock, they save themselves the hassle of liquidating it and donating the proceeds. Furthermore, they avoid having to shoulder taxes on capital gains on the entire amount. This boosts the overall amount donated, which means more for the charity!
It is best to explore such companies before applying to be entitled to these donations. This might be a big and convenient funding source that supports your charity. When you arrange an event to raise funds, you can make money by selling tickets. However, you can also receive big donations during events.