Implementing a monthly donation program is an effective way for your nonprofit to create a predictable revenue stream so you can more accurately budget for the future of your organization. Monthly donation programs can also increase donor retention for your nonprofit. However, an effective monthly donation program doesn’t run itself.
Below is a checklist to help you implement and maintain a monthly donation program in your nonprofit. We recommend that you reevaluate your program before each fiscal year to see if anything should be updated or changed.
Click on the image to download the complete PDF version of the checklist.
What to Know About Monthly Donation Programs
Did you know the average monthly donor tends to give more per year than someone who gives a one-time donation? Many donors like to take advantage of monthly giving because they may not be able to make a major gift to a nonprofit organization, but they know a small gift each month over time adds up. A one-time larger gift may not be sustainable for everyone, but a smaller monthly amount can be, and giving can quickly become part of a donor’s regular routine.
For example, if a donor gives a $300 donation once a year, that’s a significant gift. But a monthly donor who gives $50 per month would give $600 over the course of a year—and a donor who gives monthly is likely to continue giving to your cause even longer.
Monthly donors generally equate to higher donor retention rates. When you add a monthly donor as a supporter of your organization, they are likely to stick around the following year (or years). That also means monthly donors usually have a greater lifetime revenue per donor than those who give one-time gifts, even if those one-time donations are larger.
A monthly donation program also means your organization’s income is more predictable. Monthly donors tend not to cancel their donations. When they are committed to your cause and engaged with your nonprofit, they will keep giving, and you are able to better predict your income and budget accordingly.
Providing a monthly donation program for your donors is a no-brainer. Donors love that it’s easy to give to a cause they care about. When you offer donors the right giving tools, it’s easy for them to participate in monthly giving, and donors can often set it and forget it—which is great for them and great for your nonprofit.