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Wednesday, August 11, 2021

Top 3 Reasons to Consider Making Recurring Gifts Instead of One-time Gifts

Maybe you've had one before or maybe you have one (or many) active at the moment. Recurring donations of any size and frequency can be not only more convenient for donors but highly preferred by nonprofits. Read on to discover my Top 3 Reasons to Consider Making Recurring Gifts instead of One-time Gifts.

Whether it’s Netflix, Hulu, Disney+, Amazon Prime, or another service, chances are you have at least one streaming subscription where you’re automatically billed monthly, quarterly, or annually. Subscriptions have proliferated to most areas of our life, thus it follows that more and more donors are turning their one-time annual gifts into automatic recurring gifts. The impact of recurring giving programs on nonprofit programmatic innovations simply cannot be overstated... IT'S HUGE!

If you’re on the fence, here are a few reason why you may want to consider turning your one-time gifts into recurring gifts:

1. It’s easier on your budget and less of a hassle for you and the charity. You can split your contribution over the course of the year! Most nonprofit have at least a monthly recurring giving option. Some also have a few other frequencies like quarterly, bi-annually, or annually. If a charity gives you the option, try to link your bank account as your payment source instead of credit or bank cards, as their numbers can change for a variety of security reasons these days. Bank account numbers rarely change and these donations often come with lower fees.

2. Your support makes more of a difference. Nonprofits with a robust recurring giving program are able to better set long-term strategic plans, knowing that they’ll have a certain level of support from recurring donors.

3. It shouldn’t stop you from taking advantage of donation matches. If you are like me, you love to multiply the impact of your generosity by donating to match campaigns. As long as you reach out to an organization to confirm they will accommodate your wishes, you can have a gift (or gifts) from your recurring giving plan allocated toward an active match campaign when they occur.  

Overachiever? Here are some extra credit opportunities:

A. Use the Charity Navigator Giving Basket to make recurring donations. You can cancel your recurring donations at any time by simply signing in to your Charity Navigator account and navigating to “My Donations” and then “Manage Recurring Gifts”. 

B. If a recurring gift encapsulates all you can budget for a charity per year or in the years to come, then contact them directly to let them know. They should be able to exclude you from requests for additional donations. Each charity has their own philosophy on this, but the team at Charity Navigator won’t ask our active recurring donors -- our Frequent Navigators -- to make a contribution above and beyond their recurring gift.  

*raises coffee mug*

Cheers to the awesome power of recurring giving! Start a brand new subscription/recurring donation to one of your favorite charities today.

This post was contributed by Kyle Gardner, Charity Navigator’s Director of Direct Response. Kyle oversees our annual campaigns and our monthly donor program, the Frequent Navigators. He is a political news junkie, enjoys all things basketball, and is a proud Kansas Jayhawk. Kyle is passionate about Charity Navigator because he believes that philanthropists of all sizes are truly incredible people and deserve independent, no-cost resources like our charity ratings, giving tips, Hot Topics lists, impact information, and advisories.

Photo Credit: Puwadon Sang-ngern from Pexels

1 comment:

Ronm226 said...

Yes, the charity can now budget better and the individual deduction from my account is smaller BUT getting the charity to stop taking the money from my account is always difficult (no matter what the charity says). AND you have now compromised your account with one or more charities having my in-the-clear account information available for distribution to their next hacker.