Why Donors without Children Should Be Your Fundraising Focus
Did you know that 55% of legacy gifts come from donors who don’t have children? What’s more, childless donors are 5 times more likely to leave a bequest, and it will likely be a larger gift than a donor who has children.
It makes sense, really. When a person has amassed a decent amount of wealth and has no heirs to pass that on to, the next best way to create a lasting legacy is to bequeath those assets to charity. And, boy, is this segment of society a generous one! In fact, donors without children not only give more throughout their lifetime, they also tend to donate a much larger amount upon their death – an average of more than 12 times their annual lifetime giving.
Two Generations to Focus On
Currently, there are approximately 8.8 million childless Americans with wealth in excess of $1 million. Furthermore, nearly 600,000 people who are single and childless have seven-figure wealth. These totals are growing rapidly, and Baby Boomers sit atop the giving pyramid, with the number of childless 80-somethings expected to double by the 2040s.
That’s not to say this is the only generation to focus on, of course. To the contrary, Generation X is currently approaching their prime giving years. According to Pew Research, the overall population of Gen-Xers is forecasted to eclipse that of Baby Boomers some time in 2028, which means their impact in terms of philanthropy may be as little as a decade away.
The Importance of Relationships
To say that building ties with these potential donors is absolutely critical for non-profits and charitable organizations would be a massive understatement. By focusing on establishing, nurturing, and strengthening relationships with these prospects, fundraisers can position themselves and their causes front and center in the hearts and minds of donors who are looking to make an impact in the not-so-distant future.
Using a data analysis platform like TouchPoints, nonprofits and charities can quickly identify donors who fall within the childless category, saving time and resources and improving ROI. To learn more about how TouchPoints can help you tap into the incredible opportunity donors without children present for your organization, get in touch today.