Catching the Boomer Wave

I've written here about how nonprofit boards of directors can engage their networks to benefit the mission of their organization. And I've offered recommendations on how to put a system in place to convert donor prospects into donors, and the value of focusedcommunication with your donors and your prospects.
Today I want to zero in on trends you can apply to your approach to more effectively raise money to advance the mission near and dear to your heart.
in the Chronicle of Philanthropy (Vol. XXII, #10, April 8, 2010) Holly Hall writes about big demographic changes on the horizon that will impact how development staff and board members need to prepare for the wave of Baby Boomers who will reach age 65 in 2011. And that wave will only grow as the number of Americans 65+ will double in the next two decades. At the same time, the number of Americans in their 50's will decline. Generally, folks in their 50's are in the prime of disposable income capacity.
What can the nonprofit do to prepare for the Boomer wave to retirement?

• Sharpen up the Database. Can leaders get useful reports on trends that respect individual donor confidentiality? Don't have a relational database? Search sources to recommend one for you. Start with Nonprofit Tech Network http://bitly/9kOFBA to learn about Open Source Donor Management Systems. Proprietary systems can be costly, but check them out, too. Without useful data to drive development decisions, you're guessing.
• Add Tech Savvy People to Team. Every nonprofit needs a staff member and/or volunteer up-to-snuff on application of current technology. Thought leaders in development are saying the art of the schmooze is not enough in building donor relationships. Beyond managing the database, there's also potential in social media, particularly Facebook and Twitter.
• Board Adopts a Development Plan. Outline a road map indicating where you need to go to successfully raise the $$ to deliver the mission. The map should include "how:" direct response, special events, annual campaign, major gifts. And "who:" role of development committee, role of board in giving and getting. And "what:" data that will be used in decision-making.

It's spring, and summer is just weeks away. If your pace slows down a bit in the summer months, this can be a good time to do some research on database options, and to begin outlining a development plan. Get ready for action in fall so when you're annual appeal gets underway (most often November-December in the nonprofit world) you've got your tools in place to elevate your approach to fundraising.

Need some help addressing these needs? I'm just a phone call or e-mail message away.

Steve Smith is Principal of It's The Results, a consulting company specializing in board development, strategic planning, fundraising. s.p.99smith@gmail.com. 781-334-4915.