First Day Podcast

In this episode of the First Day Podcast, host Bill Stanczykiewicz, Ed.D. is joined by Jay Love, Co-Founder and current Chief Relationship Officer of Bloomerang. Jay emphasizes the necessity of prioritizing donor stewardship to improve retention rates. He suggests personalized approaches such as handwritten thank-you notes and phone calls, as well as involving board members in expressing gratitude to donors. Additionally, Jay stresses the significance of recognizing donors of all gift sizes, as major donors, although constituting a small percentage, provide the majority of funds. By implementing comprehensive stewardship strategies, organizations can build stronger relationships with donors and mitigate donor fatigue. The episode highlights the nonprofit sector's deplorable state with an average retention rate of only 43-44%, significantly lower than what is required for commercial businesses to thrive. This discrepancy is attributed to various factors, including high turnover rates among fundraising profess