Volunteerism is the gateway drug leading to major giving and legacy gifts.
Proof can be found in the 2016 U.S. Trust® Study of High Net Worth Philanthropy. The study is based on a survey of U.S. households with a net worth of $1 million or more (excluding the value of their primary home) and/or an annual household income of $200,000 or more.
49.7% of high net worth individuals volunteer. Therefore, your best prospects are probably already in your midst, right under your nose.
Interestingly: 55.9% volunteer at 2 or more organizations. In other words, they are testing you. Comparing you to your competition.
84.3% give to the organizations for which they volunteer and these high net worth volunteers give 56% more dollars overall than similar net worth non-volunteers.
So, should you mingle with your volunteers or should you search for new major donors by looking at your competitors' annual reports so you can try to poach their board members?
42.2% of high net worth individuals want to learn more about how to identify the right volunteer opportunity for them. They need your help! Why not support them as they explore their options?
Get involved in their decision-making process by offering information about volunteering. Maybe a webinar on the topic? Bring in other volunteers to explain why they do it and what they'll gain. In other words, help them pick your organization.
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