Last year, more than 50,000 charities or non-profits closed their doors and shut down operations. Do you want to guess the reason why?
Bottom line, there is a cost to acquire a new donor and, as importantly every new donor has lifetime donor value to the charity. Charities must be willing to invest in growth.
The first question every development professional must ask is how many donors who gave last year have not given this year? In other words, how many supporters have lapsed?
This week I was surprised to talk to one of my friends who had been raising funds in the not-for-profit industry for more than a decade. To my dismay he had never heard of a term that I assumed every person in the fundraising industry was very familiar with: CTAD....