In the dynamic field of nonprofit fundraising consultancy, it's vital to be conversant with the key terms and concepts. To help you navigate this world, we've compiled an A-Z list of top terms that you should know. Let's delve in:
**A - Annual Giving:** Annual giving refers to the contributions that a nonprofit organization receives over the fiscal year. It's a significant source of most organizations' income.
**B - Bequest:** A bequest is a sum of money or assets given by a donor as part of their will.
**C - Capital Campaign:** This is a targeted fundraising effort that aims to raise a large sum within a specific timeframe for a specific project, usually a high-cost one.
**D - Donor Retention:** Donor retention refers to the practice of building long-term relationships with donors to encourage ongoing support.
**E - Endowment:** An endowment is a donation of money or property to a nonprofit organization for the ongoing support of that organization. The principal amount is usually kept intact while the interest or earnings are used to pay for programs or other costs.
**F - Fundraising Feasibility Study:** This is a study conducted to assess whether a specific fundraising campaign or project is likely to be successful.
**G - Grant Writing:** Grant writing involves preparing applications for funding provided by institutions like government departments, corporations, or foundations.
**I - In-Kind Gifts:** These are donations of goods or services, rather than cash.
**M - Major Gifts:** Major gifts are the largest donations an organization receives. They often require a more personalized solicitation approach and relationship management.
**N - Nonprofit Organization:** A nonprofit organization is an entity whose primary objective is to support issues or matters of public interest rather than generating profits.
**P - Planned Giving:** Planned giving is when donors make larger gifts than they could make from their regular income, often through their estate planning.
**Q - Quiet Phase:** The quiet phase is the early part of a capital campaign where funds are raised from major donors before a public announcement is made.
**R - Restricted Funds:** Restricted funds are donations given for a specific purpose or program, as determined by the donor. They can only be used for the designated purpose.
**S - Stewardship:** Stewardship refers to the actions taken to manage donor relationships and acknowledge their contributions effectively to encourage future support.
**T - Tribute Gift:** A tribute gift is a donation made in honor or memory of someone.
**U - Unrestricted Funds:** These are donations that can be used for any purpose, offering the organization flexibility in how they use the funds.
**V - Volunteer Grant:** A volunteer grant is a monetary gift made by a company to recognize the volunteering efforts of its employees.
**W - Wealth Screening:** Wealth screening is the process of researching and compiling a donor's financial capacity to contribute.
**Z - Zero Overhead:** A tough truth is that many donors may judge a nonprofit that spends money on overhead. Some fundraisers may build campaigns so that the Board of Directors covers the overhead costs of gifts.
Please note, while we aim to be comprehensive, certain letters in the alphabet (like X, Y, Z) don't correspond directly to common terms in nonprofit fundraising consultancy based on our current knowledge.
Here are some strong runners-up bonus terms for letters:
**P - Prospect Research:** This is the identification and research of potential donors or funding sources to assess their ability and likelihood to donate.
**M - Matching Gifts:** This is a type of giving where companies match donations made by their employees to eligible nonprofit organizations. This can effectively double the original donation amount, making it a valuable fundraising tactic.
**C - Case Statement:** A case statement is a document outlining why a donor should support a nonprofit's campaign or project. It clearly presents the needs, goals, and impact of the potential funding.
**O - Operating Support:** This refers to unrestricted funding given to support a nonprofit's general operations and administrative expenses.
**L - Legacy Giving:** This is similar to planned giving, where donors make a gift (typically in their wills) that will have a lasting impact on the organization. These gifts are often part of a donor's long-term financial or estate planning.
These are key terms, A to Z, that will help you navigate the landscape of nonprofit fundraising consultancy with ease. By understanding these terms, you can better communicate your strategies, interact with donors, and succeed in your fundraising goals.
Looking for more assistance with your fundraising? Reach out to a Nonprofit.ist fundraising consultant.
