Why Overflow Should Leapfrog Your Priority List

8 Minute Read
Posted by Overflow Team on May 4, 2022

Tags: Drops

"Give someone a fish and they'll eat for a day, teach someone to fish and they'll eat for a lifetime."

Some of you might have heard this expression before, yet it can be easy to overlook the essential truths that come with it. When we create a source of consistent sustenance, we don't have to scramble day-to-day to figure out where our resources will come from.

The same premise applies to giving and having a stable stream of income. Not having to worry about where donations, contributions, or other forms of giving will come from ultimately allows you to focus on the core parts of your mission or ministry.

Overflow's ultimate goal is to take any logistical weight off your shoulders while simultaneously facilitating an entirely new channel of donations. In other words, we make giving easy and tap into areas of giving previously considered too hard or two complicated to use, such as stocks or cryptocurrency.

In fact, the average donation through Overflow is $12,000+ (as of May 2022), which is 120x higher than the average online donation through ACH/Debit/Credit. On the whole, stock and crypto donations tend to be higher, yet often are cumbersome and frustrating to accept. Overflow is here to fix that problem.

Our online platform streamlines the process and makes it easy, giving your team a break from having to run numbers or contact brokerage institutions.

"That's great…," you may think. "But adding a service like this is probably a hassle in itself, and doesn't align with our immediate goals."

Or perhaps you're skeptical that Overflow comes with big promises with little payoff and isn't worth the time to set up. You're busy – why would you bother with this?

We'd love to address some of those hesitations and show you the following:

1) Overflow's dedicated customer support team makes it incredibly easy to set-up the platform and is consistently available to support your church or organization's immediate needs.

2) Overflow quickly pays for itself, as the volume and size of donations brought in quickly push you past breaking even and into a surplus..

3) Looking into a service like Overflow's may sound like a time suck, but it instead frees you up to focus on what's important, as mentioned before. Moreover, it actually works.

Let's dive into some of the above points and explain based on past experience how Overflow can help you accomplish your myriad goals. If you make Overflow a top priority, the rest of your goals will flow naturally from that increase.

Overflow Frees You Up For Your Mission

Unlike large corporations, churches and nonprofits almost always have people wearing multiple hats. There's always work to do, and the mission never stops. You're probably used to handling a bevy of tasks that would easily be outsourced at a behemoth company like Google or Amazon.

Moreover, churches and nonprofits typically have to work within a specific budget, and said dollars are precious for accomplishing the mission. Given that money is often tight, leaders are wary of moving resources away from the primary goal. That makes sense. If your car needs a new engine, why would you be spending money on a new paint job?

So yes, you can't accomplish your mission without the funding to sustain it. As such, time and money management becomes paramount, as every single penny counts, and every minute is packed with purposeful action.

Given that, here's how Overflow frees you up to focus on what's really important from a time and money standpoint.

Time: First off, Overflow takes care of all the technical details of donating stock, crypto, or cash. We track donation amounts, and handle any communication between banks/brokers and the organization/church. Using the Overflow giving platform, it takes a donor less than five minutes to give via stock. No calls to the church. No bothering the head of finance at your organization.

From a numbers standpoint, Overflow has been shown to accelerate fundraising growth 55% faster than normal. If you're in a pinch to raise money quickly and purposefully, Overflow can speed up that process.

Money: Overflow pays for itself. Yes, there are overhead costs of Overflow plus a processing fee, but a single stock donation would pay for Overflow's services and still leave some leftover for the mission.

It Actually Works

Okay, but how does all of this actually work on a practical level?

When you partner with Overflow, you receive access to our easy-to-use, user friendly giving platform. From a public-facing standpoint, you can easily add a button to your non-profit or church's website that links them to the Overflow giving experience. Let's say you decide to use our stock giving platform – here's how it works:

First, the platform links directly to your portfolio
Next, the stock donation is sent directly to the nonprofit
Tax deductions are automatically factored based on the "Fair Market Value" of the stock.

The process is relatively similar and easy for crypto donations as well. We know, especially in 2022, that people will often balk at something esoteric and confusing. We're used to being able to get what we want in a matter of button clicks. Thus, allowing people to take the path of least resistance has been proven to retain donors by building their confidence in the giving process.

Now that we've given you an overview of the process, let's talk about the effectiveness of it. After all, just because something is easy to use, doesn't mean it's effective. If people aren't using it or donating, what's the point? Here are some ways that Overflow is inherently effective:

Gift Maximization: Giving stock or crypto is highly appealing for the donor/giver from a gift maximization standpoint. Stocks and crypto given directly via the Overflow platform are not subject to capital gains tax, thus maximizing their donations. Not convinced your donors have stock? Research has shown that 90% of the average American adult's wealth is held in non-cash assets.

Size of Gifts: The average stock donation given through Overflow is 120 times higher than a debit or credit cash donation. Even if you have a small donor base, the size of their gifts can more than compensate for the lack of volume.

Donor Retention: The Overflow platform is not only easy to use, but extremely safe and secure. We know that divulging financial information can be scary, so we take security and privacy incredibly seriously. This builds donor confidence as they see their money is being stewarded and cared for well.

Even if you internally know the perks, how do you get the message out to your community? One of the most important steps in all of this is making sure your constituents understand that Overflow is an effective option available to them. The goal is to build trust and show them that Overflow isn't a gimmick, but a new pathway forward in an ever-changing giving landscape.

While your efforts to market Overflow's service may vary based on your community (ultimately you know them best), we've witnessed these strategies play dividends in our other partnerships:

Announcements: Particularly if you're a church or organization that has regular moments of interaction with your community, this is probably the most straightforward way of getting the message out to many people at once. Talking about money is never easy, but odds are if you're reading this, you're used to having those tricky conversations.

Digital Communication: If you have some kind of weekly communication with your community or donor base, include Overflow. Or if you have an active social media following, you can post updates on your Instagram stories, Twitter feed, or Facebook page, and easily link it to Overflow's website or instagram so they can learn more.

Conversations: This process will take time, and people often like to feel a personal connection before trying something new. Having conversations builds rapport between you and the donor and reminds them that you see Overflow as a process of stretching giving dollars even farther while working proactively to offer them a variety of ways to give.

Book an Overflow Demo

The whole point is building relationships and helping the world of the generous grow larger. Generosity is something that people do out of their own hearts, and thus your decision to partner with us or not should be one made with careful discernment and intention.

By providing the above stats and figures, we're simply trying to illustrate the point that there's no catch. No hidden manipulation. Only proven results.

Whether you're simply curious about us or want to take the first steps in a potential partnership, we encourage you to do the following:

1) Book an Overflow Demo: This will be a 15 minute call in which we walk you through the entire process of a potential partnership and answer any questions you might have.

2) Follow up with an Overflow member. If you’ve ever spoken to an Overflow member, they'd be happy to continue the conversation.

Read our other blogs and check out our website to get a better understanding of the way we've partnered with other organizations and helped maximize their giving impact.