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Your money's not worth what it was - so give more!
09 May 2011
It’s the merry month of May, and everyone’s mind turns to …… well, fundraising of course. That’s if you’re involved in a not-for-profit organisation.
Truth to tell, if your mind isn’t focussed on fundraising pretty all year round, you won’t exist for long - no matter how great the need for your service or what a fantastic job you do.
May is the month before June which is Annual Appeal time, when a not-for-profit ask its donors and potential donors for money, money critical to its planning and survival for this and the next financial year.
Doing some research on the figures, I can’t help noticing that 90% of donors have been giving the same amount for the past six years. We only started Fitted for Work six years ago and it could well be that donors just stick to the same sum for … who knows how many years.
Hey wait a minute! Hold it right there.
Have you been out to eat recently? Maybe not so often as you did once as these days a main course at a reasonable restaurant will cost you around $30. Six years ago you paid $25 for a whole meal including wine. The hike has been particularly steep recently because of loss of crops in the summer floods.
Six years ago the Aussie dollar got you bubkes , around 60 US cents. Today it’s worth $1.09. The only people this can be good for is Aussie tourists abroad.
Long-windedly, I am leading up to the fact that despite everything having gone up - think house prices, rent, salaries, petrol, books everything - most people who gave $100 to a charity’s Annual Appeal in 2005 are still giving the same $100. And that goes for the $1000 donor, the $5000 donor and the $10,000 donor, etc.
Haven’t we noticed that everything costs more?
You’ll notice the highlighted we. Yep, me too. I’ve been giving less and less by giving the same amount.
Well now that I know, what should I do? If I used the house price index I’d have to at least double the amount I give.
Any suggestions from you economists and number crunchers out? How much should someone who gave $100 in 2006 be giving now for it to be worth the same to the cause they’re supporting?