As 2020 taught us, times of economic stress create uncertainty for everyone, including nonprofits. That’s why recurring donations are so important: they create stable donation streams for sustained fundraising. But while some donors are happy to give monthly for an unspecified length of time, others prefer more structured giving. That’s where a monthly giving program can help!
With Qgiv’s giving plans feature, donors can set up “bite-sized” recurring donations with clear start and end dates. Your nonprofit can also use a monthly giving program to fundraise toward a specific project or goal. Or you can offer a way for donors to make custom plans that fit their own goals and comfort levels.
In this post, you’ll learn what a monthly giving program is and how it differs from other recurring donation structures. Then, I’ll show you what a giving plan looks like on the Qgiv front-end. And I’ll share some best practices when setting up a giving plan.
What is a Monthly Giving Program?
A monthly giving program is a type of recurring donation in which you set a specific duration, frequency, and total donation amount. This gives your donors a way to contribute in smaller, less daunting chunks. Think of them like structured pledges!
These giving plans can be customized with different amounts and giving frequencies. You can also link gifts to specific goals and initiatives to create impact statements for donors. Plus, you can show donors exactly how much they’ll end up giving over time.
Why Use Giving Plans?
Offering a way for donors to give on a recurring basis is important for creating a reliable and sustainable revenue stream. In fact, studies should that monthly donors give over 40% more in a year than one-time donors. But in uncertain economic times, some donors won’t be able to commit to giving every month unless there is a clear end date or goal set up for them.
You can remove the uncertainty for your donors by telling them exactly how long their gift will last and how much they’ll end up giving over time. A donor may not feel comfortable giving $100 all at once. But if they see an option to give $10 per month for 10 months, they may stop and think, “Hm, I can definitely do that!” Offering giving plans lessens the immediate financial impact on donors and thus makes giving feel much more manageable!
Also, it’s easy to connect giving plans to specific initiatives so donors know exactly where their gift is going. Our Generational Giving Report found that recognizing individual donations and providing impact updates both make donors more likely to give again.
Qgiv offers an easy way to thank donors for giving to specific funds or initiatives by using conditional content blocks in receipts. You can also set up custom mappings in Qgiv’s CRM and email integrations to help you provide tailored impact communication—it’s a great way to strengthen donor relationships and boost loyalty.
Plus, with Qgiv’s giving plans, you can include a custom plan option, which essentially works like a traditional recurring gift structure. Donors select the amount they want to give in recurring monthly installments. This offers flexibility to meet donors’ needs.
Monthly Giving Programs in the Wild
Need some inspiration? Here are monthly giving program examples to help inspire you:
And remember, with giving plans, donors can select the “Create Your Own Plan” option. That way, they can set up a traditional recurring gift that meets their needs.
Recurring donors end up giving more regularly and in larger amounts than one-time donors. That’s why creating an approachable, sustainable recurring donation strategy is vital for any nonprofit. With Qgiv’s giving plans, you can offer your donors more clarity and focus in their recurring giving with an easier initial commitment.
For more on how to build a great monthly giving program, check out other posts:
- How to Build Reliable Revenue with Recurring Donations – Qgiv Blog
- How to Raise More This Year End with Qgiv’s Recurring Tools – Qgiv Success Center
- The Impact of Recurring Giving: How to Keep 80% of Your Donors – Qgiv Success Center
- Use Recurring Upgrade Prompts to Grow Your Fundraising – Qgiv Blog
If you’re already using Qgiv’s donation forms and want to learn more about setting up giving plans, you can contact our Customer Experience team for help: firstname.lastname@example.org or 888.855.9595.
If you’re ready to get started with Qgiv, get in touch to schedule a demo!