Donors without Children – An Untapped Opportunity
TouchPoints can help identify which of your donors do not have children.
According to the Chronicle of Philanthropy, 20% of women between the ages of 51 and 56 are childless. That’s nearly double the percentage of childless women in the 77-81 age bracket. Perhaps an even more eye-opening stat is that, according to the same article, more than 8.2 million Americans who do not have children have assets in excess of $1M.
What this means for nonprofits is that there is a tremendous opportunity for potential donors just waiting to be tapped into.
Why do childless people give? It’s more than just supporting a cause that’s important to them. In most cases, it’s because they want to leave a legacy. They want to feel as though their lives made an impact. They want the personal satisfaction of knowing they’ve made a difference and will continue to do so even after they’ve passed on.
According to research by author and planned giving expert Michael J. Rosen, not only are bequests the most prevalent type of planned charitable gift, but those who don’t have children are by far the most likely to give.
And since donors who make bequest commitments average more than double the annual gifts of other donors, it’s clear that these individuals are among your most important benefactors. From a financial stability standpoint, bequests can help fund your mission well into the future. Further, forging meaningful relationships with childless donors may even increase the likelihood of additional, ongoing giving during the donor’s lifetime. The key lies in finding and cultivating them.
Rosen’s research indicates that the average age of a person who makes their first charitable bequest commitment is 40-50, but that doesn’t mean there’s not opportunity in other age brackets as well. Keep in mind, also, that most bequests do not come from major gift donors. That means targeting individuals who don’t yet currently have the ability to make a major gift would be wise. In reality, almost anyone has the ability to become a planned giver. This can make prospecting much more challenging.
To save time and increase your ROI, consider working with a record management platform like TouchPoints. Our premium, data-driven screening service can help you identify and target more potential donors for better results. Not only will it save you thousands of man hours, but it’s an investment you’ll likely only have to make once because most of the people you are targeting will remain childless.
To learn more about how TouchPoints can help you tap into the tremendous opportunity that donors without children present for your organization, get in touch today.