In the third episode of this season on ‘Making Things Happen: Churches, Charities and Money’, Simon and Bex discuss possible revenue sources for charities and churches, and how best to interact with them.
Some key points of interest covered in this episode include the following:
- Bex and Simon start off the discussion by identifying possible sources of revenue for charities and churches, including individual donors, companies, grant-making bodies, other charities and government organisations. [01:34]
- In response to a question from Bex, Simon talks about possible responsibilities and obligations that may arise when making applications for financial support from sources other than individual donors. [03:54]
- When thinking about how best to attract individual donors, Simon suggests that the primary focus should be on building a community of engaged supporters, with the first task being to identify like-minded people who are most likely to be committed to the vision and purpose of your church or charity. [05:15]
- When asked about what it takes for people to give to a cause, Simon suggests that making a personal connection is vital. People tend to respond positively when it is clear that a charity or church is relevant to them and is making a difference to a situation or issue that is important to them. [08:09] A related point that should not be underestimated is the ability to leverage additional support that can be accomplished by supporters who share enthusiastically with others their passion for a charity or church. [08:56]
- When asked what would encourage her to give to a cause, Bex comments that she responds positively to personal connection and relevance, and also to evidence that a genuine difference is being made. [10:26] Factors that tend to inhibit her from giving include a ‘cold approach’ on the doorstep that insists on an immediate response or an appeal for money that disregards other aspects of an individual’s involvement with a charity. [11:48] Simon goes on to speak about the importance of integrity and transparency when making such approaches. [12:36]
- Simon talks about how individuals can give to charities, including the following points: cash donations; regular giving through bank transfers / standing orders; lump sums; and fundraising activities. [14:48]
- Two tax-efficient ways to give to charity are to leave a legacy in your will [17:09] and to take advantage of gift aid. [19:34]
- Simon goes on to explain how matching donation schemes work [20:51], and he also highlights the advantages of planned spontaneous giving in that context. [21:55]
- If a charity is faced with the unwelcome prospect of running out of money, the following two approaches can be helpful: try to maximise current income sources; ensure that you abide by charity legislation and that you have set up a contingency plan for this kind of circumstance. [22:39]
- The next episode in this season will focus on budgeting and cash flow issues that can arise when managing the finances of a church or charity. [25:02]
Suggestions or feedback arising from this episode can be sent via email to whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.
This show has been brought to you by Free Range Podcasting.
You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking on this link.
