Alumni donations play a crucial part in the livelihood of a fraternity or sorority chapter, and their house corporations. Alumni/ae give for a variety of reasons, most of which are intended to ensure a chapter or house corporation’s emotional and financial well-being. Traditionally, there are two kinds of alumni/ae giving: One-time giving and recurring giving.
Recurring giving fosters alumni/ae giving over the extended period of a campaign, which could last for years. That’s why building a relationship with alumni/ae over time is just as important as how you ask for recurring support.
Consider these three ways recurring gifts can level-up your chapter or house corporation’s fundraising strategy.
Recurring donations can be easier on the wallet
With recurring donations, alumni/ae can pledge money that fits within their monthly/quarterly budget and get the benefit of seeing the progress being made thanks to their reoccurring gift. Reoccurring giving better reflects the long-term, consistent relationship alumni/ae seek, too. In fact, research shows that alumni/ae are willing to give a higher percentage overall when they are given the option for recurring donations.
Recurring donations build camaraderie, keep databases current, and make budgeting easier
Fundraising campaigns that ask for recurring, rather than one-time donations, are more engaging long-term. Custom websites and personalized campaign pages help gamify the process and create healthy competition. Recurring donations also help make sure alumni/ae databases are kept current; and help your chapter or house corporation leaders forecast income. Don’t forget! Make sure to recognize your donors for their contributions over time.
Recurring donations can provide more flexibility
With recurring donations, chapters and their house corporations can engage alumni for non-specific giving. You may be able to build up a base of regular financial support that exceeds the lifespan of a single capital fundraising campaign. Additionally, if you have built a regular group of alumni who give recurring amounts, you may go into a project having a certain percentage of a project’s total cost already saved, which can make a campaign less daunting. Don’t forget! Make sure to recognize your donors for their contributions over time.
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