June 25, 2019
Libraries are always happy to take donations, but not necessarily in book form. Financial donors help libraries stay up-to-date on their technologies and maintain the services they provide to the public. But finding donors may not always be an easy route.
It’s important for libraries to plug into the community and boost not only the amount of money they receive but the roster of donors behind the financial gifts. Here’s how libraries can maximize their donations and stay connected with available funders.
According to the Millennial Impact Report, about two-thirds of people under the age of 35 have participated in some sort of active charity event, like a walk or run or cycle event. These charity events netted about $1.2 billion through 2012, which was double the amount earned a decade before that.
Tapping into this community can help libraries over the hump in donations in considerable ways. Young donors, while not as affluent as older generations on their own, can collectively bring in major charitable donations. Setting up a donation of as little as $5 can have a major impact when gathering funds at the end of a time period.
Also, participatory giving opportunities allow younger donors who are unable to contribute substantial finances to still make an impact on the community while also boosting the overall tribal approach to donating.
Defining the Cause
Donors typically like to give more thought to what or who they’re donating to when it comes to the overall impact that their dollar is having on the community. Libraries should not expect donors to stick with them just because of what they offer to the community. Instead, libraries can express the importance of an added value it is able to offer its community because of private donations.
Letting donors know exactly how their funds, even if it’s $5 or $10, are being used, such as adding new titles or expanding a certain area of the library that’s needed new or additional books.
Online payments and mobile donations have become more and more popular in today’s digital landscape. Companies like Venmo and CashApp make it easy for businesses and startups to receive payments from their customers, or for friends and family to share funds with each other. So, why not utilize these options and take advantage of their ease of use?
Libraries should include options to pay through something like PayPal or send out mobile or pay-by-text options via its website. Offering more options will help to field more possible donations and provide easy access to donate on the go.
Using Social Media
Practically every business and every startup and every public entity has a social media presence. Being able to promote events and meetings and new programs at a library has all been made easy by the use of social media platforms like Twitter, Instagram, Snapchat and Facebook. And they can also be of use to boost awareness around donations.
Libraries should take advantage of these free online marketing platforms and build a strategy around attracting donors of all ages. Social media has the power to reach people who wouldn’t hear about events and public needs in other ways. Adding this component will help to bridge the gap between the mobile community and the library community.
About Regan Agency
A family-owned business, Long Island-based Regan Agency has more than 35 years of experience serving the library insurance and risk management needs of Tri-State residents and businesses. We have earned the trust of our clients based on our integrity and commitment to offer individuals and businesses quality library insurance products at competitive prices backed by unparalleled responsive service. Just give one of our professionals a call at 631-669-3434.