Webinar recap: Why cash is not king in fundraising (featuring special guest Dr. Russell James)

‍

In a recent webinar with special guest Dr. Russell James, we explored an often-overlooked avenue of fundraising: non-cash donations. 

Moving beyond the traditional cash contributions can unlock new potential for both donors and nonprofits alike, challenging the conventional wisdom that "cash is king."

Non-cash donations, such as stocks and other valuable assets, offer a unique set of advantages that can make them an attractive option for both donors and organizations:

• They feel relatively smaller. For donors, giving from wealth, as opposed to disposable income, which is limited, can feel less daunting than writing a check.
  
  
• They’re a reminder of wealth. Discussing assets beyond cash can serve as a subtle reminder for donors of their broader wealth, and people who feel wealthy will act charitably.

• Help to mentally reclassify assets as donation-relevant. Tailoring fundraising strategies to include non-cash options lets the donor reconsider what they see as a charitable contribution for future giving.
  
  
• Reflect real-donor centeredness. By promoting non-cash gifts, nonprofits prove that they’re willing to accept more complex gifts, and deal with the perceived hassle, in order to benefit the donor.
  
  
• They require fundraiser expertise. Nonprofits that are promoting and receiving non-cash gifts are more likely to develop technically-skilled fundraisers. This greater level of fundraising knowledge changes the donor relationship from “asking” to “advising” which leads to long-term growth.

• They’re more social. Gifts of cash promote independence and exchange motives while gifts of objects are more common in social relationships and emphasize communal norms. (You wouldn’t bring cash as a gift to a social gathering, but you would bring a bottle of wine that might hold the same monetary value!)
  
  
• These gifts are more cost-effective. These types of donations can offer tax advantages to donors, making them an appealing option while also potentially increasing the value of the gift to the organization.

• They fuel growth. Incorporating non-cash donations can fuel not only immediate fundraising goals but also long-term growth, setting the stage for future success.

By expanding fundraising strategies at your organization to include these non-cash giving options, you not only will meet immediate fundraising goals but also build a stronger, more resilient foundation for the future. 

For additional insights, watch the recording of this webinar and download the presentation. 

If you’re curious about how over 1,500 nonprofits are embracing non-cash giving by partnering with FreeWill, consider booking a one-on-one call with one of our non-cash giving experts.