The end of the financial year is fast approaching. And one thing we can say with certainty is that for the 2020/2021 tax year, ‘unprecedented’ doesn’t even come close!
Campaigns and budgets have been adjusted with a moment’s notice.
Running events and how a charity engages with donors have evolved significantly.
We are now in the peak season of giving and every opportunity to receive one last donation this financial year must be maximised.
Here is our tax time checklist to make sure every fundraising box has been ticked before closing the curtains on 2020/2021.
An end of financial year email has been scheduled
While a direct mail appeal may have been sent, or the EOFY event organised, everyone on the database who hasn’t yet donated should hear from you on or before June 30.
This final contact should create urgency and serve as one last reminder that the recipient’s support is crucial while simultaneously helping their own end of financial year position.
Depending on the nature of any other recent appeals, this email can be a simple reminder pointing to the fundraising page on your website with a follow-up within 24 hours.
It’s still just as important as ever to tell the story of your charity, but do not miss this final reminder to let supporters know this is their last chance to donate for this financial year.
Update the website
Add a temporary banner or countdown to your homepage reminding website visitors that the end of the financial year is fast approaching. You don’t know who is looking at your website and why. If someone connects with your cause, the sense of urgency to donate must be there to further encourage their immediate support.
Speak to people
This might seem obvious but having conversations with people you meet in daily life is just as important to the charity as structured appeals. These conversations aren’t planned or forced but highlight to those you meet the need for their support and the significance of an end of financial year donation.
These conversations may not lead to a financial gift, but they could encourage support in other areas such as an offer to volunteer, run an event, or support the charity through a business initiative.
Update social media
Pin a post to the top of your Facebook page reminding scrollers that the end of the financial year is approaching.
A regular donor may have already pledged their support throughout the year, but once they have a better understanding of their accounts, the last day of the year might be the time to make an extra donation that will not only benefit the cause but also their business.
Contact those who haven’t yet given
Donors can be creatures of habit which makes data analysis an excellent tool when it comes to canvassing financial support. A simple report from the database will identify who usually gives at this time of year. Depending on the volume and your resources, consider a phone call or direct contact to reach out to those who haven’t yet given.
Say thank you
Everyone who has contributed during this financial year needs a reminder of how grateful you are for their support. This can be in the form of a social media post, individual email or a website update. All donors should receive a tax-deductible receipt as soon as possible after June 30 with a thank you from the charity.
All donations over $2 are a fully tax-deductible expense making ‘tax time’ one of the most important seasons on the giving calendar. SupporterHub is an integrated platform helping charities build better relationships with supporters to improve fundraising outcomes.To find out about our FREE trial (no credit card required) and learn how SupporterHub can help take your charity to the next level book a demo