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For each theme, a summary of the discussion is provided with illustrative quotes from the Summits and supportive references from both academic and practitioner research. The views expressed below are those of the authors and do not necessarily reflect the views of all Summit participants.
Boards need to understand the economics of successful fundraising management and understand the long-term financial implications of the changes we recommend. Holding the chief executive and his or her fundraising team to account on a range of short-term and siloed metrics will only be counterproductive, damaging philanthropy and undermining the cultural shift that we aim to achieve. Boards need to understand the fundraising approaches in their own longer term self-interest, but they also need to understand their wider role, namely, the stewardship of philanthropy. Equally, executive officers must also be educated about the difference between transactional and relational approaches and the need to plan from a longer term perspective based on the mutual respect of supporters and concerns for each others needs (Clark and Mils, 1993). They, too, need to develop an operational knowledge of best practices in fundraising, being prepared to champion it, as necessary, to their boards.
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Theme 3: Identifying New Audiences, Channels, and Forms of Giving with Strong Potential for Growth
Recommendation 17: Encourage the adoption of monthly giving. The wider adoption of monthly giving (also known as regular giving or sustained giving) in the United States could itself transform philanthropy. The lifetime value of supporters giving in this way is estimated to be 600 to 800 percent higher than the annual giving (also known as cash giving) (McKinnon, 1999). Regular giving is also popular with younger donors; it is regarded as more convenient and environmentally friendly, removing the need for annual renewals and the associated communications. For the charity, it provides a high value, predictable income stream that is less susceptible to the impact of fluctuations in the economy than other forms of giving (Rapidata, 2011).
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The views expressed in this report are those of the authors and do not necessarily reflect the views of all Summit participants.
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