The Power of the Recurring Gift
It’s no secret by now. Recurring giving is on the rise in the world of philanthropy. And that’s true for UGA as well. Just take a look at the past few years of recurring gift dollars at UGA:
- FY 2016: $189,701
- FY 2017: $305,444
- FY 2018: $442,060
- FY 2019 (YTD):320,355
UGA is currently the beneficiary of 1,461 recurring gifts from 1,405 individual donors. Those gifts are being designated to over 100 different fund designations representing every school, college, and unit. But there’s more reasons why this is such a powerful philanthropic tool. It makes sense. Recurring gifts allow donors to support their causes while not stretching their budgets too tightly. Instead of sacrificing $250 of their monthly budget, they can make monthly $20 gifts automatically. In an era when everyone is talking about being “donor-centric,” recurring giving is one of the most donor-centric options we can offer.
Recurring giving allows donors to be more generous.
For the vast majority of people, it is much easier to make smaller monthly payments than a single, larger payment. That is why platforms like Hulu and Netflix charge $10/month instead of $120/year.
Recurring giving encourages sustained giving.
Of the 1,461 active recurring gifts to UGA, 1,065 do not have an end date specified. That means they intend to keep their support going indefinitely!
Recurring giving promotes loyalty to UGA.
Of the donors who made a recurring gift in FY18, 69% have already donated so far in FY19!
Some units have already gotten creative about promoting recurring gifts, and their efforts are clearly working. For example, Terry recently launched their “Ten for Terry” program, which encourages their young alumni to make monthly $10 gifts to the Terry Excellence Fund. In just a few short months, over 300 generous young Terry grads have participated, many of whom are new donors. Alumni Relations has also promoted recurring giving as one way of participating in the 1961 Club which supports the Black Alumni Scholarship Fund. To date, over 240 alumni have elected to participate by giving $19.61 each month.
Have you considered how recurring giving can help your alumni support UGA? Contact Evan Tighe (ude.agu@ehgitpe, 706-542-9491) to help get you started!