A post by James V. Toscano mne·mon·ics: the process or technique of improving or developing the memory. The Four R’s: Retention = Reporting, Rewarding, Renewing Donor retention is one of the most important tasks in the development responsibilities of a nonprofit organization. After substantial effort in terms of time and resources, translating suspects into prospects and prospects into donors is one of the great accomplishments in fund-raising. Cultivation and solicitation of new donors are among the great skills of the fund-raising community. To retain and upgrade the donor becomes the significant ongoing task, and many organizations fail in this essential activity….
Post by James V. Toscano A number of years ago, we had a prospect interested in donating a significant piece of equipment to our healthcare organization. The prospect and his spouse had been long-time patients — grateful patients, who had established a solid history of generous giving. The husband was self-made, having risked all on a new business, which he built from scratch into a major player in his industry, then sold, with enough to make the couple secure and (not always the case with every such retired entrepreneur) very generous to the community. At the appointed hour at his…