Many nonprofit organizations fail to realize that proper and well made donation receipts can boost their donor retention rates. A well executed donation receipt will leave a good impression on your donors and compel them to make further donations.
Donation receipts must be necessarily issued by every nonprofit to help not only the organization but also the donor to keep track of the donations. Today we are going to give you a few tips on how you can create compelling donation receipts.
1. Keep Them Short And Sweet
Make sure your donation receipts don’t read like essays. Your donors are likely to get turned off or uninterested if your receipt includes irrelevant details or long requests asking for more money.
While formulating a receipt, one should refrain from using complicated language and make sure it is easy to read and understand. Here are a few points you can keep in mind,
- If you are going to ask for more donations in the receipt, make sure you do so in an engaging manner. State how more donations could help your nonprofit’s vision. Don’t make the receipt solely for asking more donations.
- Have a proper structure for your receipt. Present the matter in a cohesive manner and make sure it is clear and concise.
2. Make It Less Like A Receipt
Donation receipts are probably the only chance you will get to interact with your donors. So why would you waste this opportunity by making your receipts plain and boring? One way you can make a good impression on your donors is to make sure your receipts are not like other money receipts. Here are a few ways you can spice up your donation receipts,
- Give them a virtual experience through pictures and videos – You can include links to pictures and videos which showcase your nonprofit in action. The pictures can also be of activities and different events held by your nonprofit.
- Give them an update – Brief your donors on the different milestones your nonprofit was able to achieve because of their donations. This can also include testimonials and success stories.
3. Include All The Relevant Information
There is some essential information you need to include in every donation receipt. It is always recommended to follow a standard layout for all your donation receipts. You can use automated donation receipt services to generate your receipts. The IRS makes it mandatory to include the following details in donation receipts,
- Name of the organization
- Donation date
- Name of the donor
- Amount of money donated by the donor
- A statement regarding goods and services
- If your nonprofit is tax exempt, you need to include the EIN of your organization.
You can also include your nonprofit’s contact details and address in case the donor wants to contact you. Including all these details assures your donor of the authenticity of your nonprofit organization.
4. Make Sure To Send Receipts On Time
Sending your receipts on time is more important than you think. You don’t want your donors getting frustrated or worried thinking whether their donations have been received and verified. Make sure to have your receipts sent 1-2 days after the donation has been received. Late receipts can lead your donor to stop making further donations. Regular receipts can help both the donor and the organization to maintain an accurate financial record.
5. Include Invites To Events And Activities
While maintaining an online connection with your donors is always good, a physical connection is even better. If your donor is a regular contributor and has made a number of donations, you can give them extra benefits like passes to free events and other activities. You can include a short invitation in your receipt inviting your donor to an event. These kinds of invites can be included after the donor completes a certain number of donations.
With a little bit of time and effort, you can make sure your donation receipts are up to the mark. There are plenty of donation receipt templates online available to help you formulate a successful receipt.