Guidelines on developing beneficiary gifts as part of a charity's fundraising mix are today being launched by the Institute of Fundraising ('Institute').
Beneficiary gift fundraising has proven to be a highly successful technique which has increasingly been used by the Institute's member charities, and others, over the past few years. It allows charities to create a new revenue stream and capitalise on donor demand to shop 'ethically', while offering supporters the opportunity to make a donation in a novel manner. Beneficiary gifts can be an effective means of engaging donors for many charities.
In order to ensure existing beneficiary gifts schemes adhere to the Institute's Codes of Fundraising Practice, guidelines for members and other fundraising charities have been launched today which address the key issues involved in setting up and running a beneficiary gift scheme. These comprise guidance on the planning stage, selling and fulfilment and accountability and transparency.
Megan Pacey, Director of Policy and Campaigns at the Institute of Fundraising, comments:
"Beneficiary gift fundraising schemes are popular amongst many fundraising charities, particularly at this time of year. However, charities need to bear in mind that this fundraising technique has a number of potential 'pitfalls', mainly in the way in which the precise nature of the gift is communicated to donors.
It is vital to explain to potential donors and recipients of beneficiary gifts exactly what their money will be used for and then ensure that the organisation follows through 'what it says on the tin'. Key to the success of any beneficiary gifts scheme is its full accountability and transparency.â€