Over solicitation turns off high net worth donors

January 9, 2018       THE NONPROFIT TIMES      

Too many solicitations and nonprofits asking for too much money were the number one reason high net worth donors say they stopped supporting a cause, according to a recent study.

Nearly 42 percent of those questioned by the Trust Study of High Net Worth Philanthropy said that was their number one reason for withdrawing support, said Daniel Neel, president of the Fundraising Resource Group, Vero Beach, Fla., during a presentation at a recent National Catholic Development Conference.

That mistake topped a personal change in philanthropic focus, which accounted for their withdrawal of support 35.3 percent of the time, and their belief that the organization was not effective, which caused the change of heart 18.3 percent of the time.

Other reasons for stopping support given include a change of household circumstances (16.3 percent), a change in leadership of the organization (16.3 percent), the purpose of the program being completed (13.2 percent) and inaccurate record keeping of information (5.8 percent.)