The Trend Report: Q4 2022

The best way to predict the future is to predict the one you want. Check out our take on current trends and how you can adapt to them.

Mastercard Implements New Recurring Transaction Rules

You may have heard about the September deadline that Mastercard implemented regarding new requirements for recurring transactions. However, for nonprofits, Mastercard took a step back from that firm deadline, with a new deadline of March 21, 2023. These new subscription payment requirements include monthly notification/receipting, but only for donors who have provided their email address. It is likely other credit card companies will follow suit, unless legislative action carves out NPOs. What’s in it for me? You need to ensure from the beginning of your communication with each sustainer that they know they are signing up for a monthly gift. Additionally, you should ensure you have a clear route for donors to take to opt out of donating to your org, if they so desire due to the new tax receipt requirement. Communicate with your payment processor too, so you can make sure they are also ready for these shifts to come in 6 months.

Key takeaway: This month, subscriptions resulting in the delivery of physical products or digital goods, including recurring nonprofit donations, are being required by Mastercard. Keep up with the new requirements, and while you are at it, take a moment to tell your donor what a difference they are making.

Respond, Don’t React, to Postage Changes 

Postage rates are ever changing. As long as the Postal Service is operating under the current rate making rules, our industry should anticipate increases in January and July of every year. It’s important to understand the difference between the rates reflective of pure postage costs rather than a blend of postage costs. Commingle rates, for example, are a blend of postage, handling and logistics expenses. While just about the only thing we can control these days is ourselves and our own response to what we face, lets plan together around what we can estimate as the upcoming increases, and budget accordingly. Download PS’ Postage Rate Chart here for the proposed Janurary rate changes. Instead of being reactive, lets respond to predicted increases now, to help ourselves in the future. The next change will be on Janurary 22, 2023.

Key Takeaway: When you understand the idiosyncrasies of the modifications and increases of postage rates, what they mean, and when changes are implemented, only then are you able to budget accurately and stay in the know. 

Evolving Your Culture with Diversity, Equity & Inclusion 

Each organization is of many different faiths, backgrounds, and core truths. But most of us believe a life of purpose and service to others provides deep satisfaction. Living out service to one another more deeply is possible when you commit to diversity, equity & inclusion as an organization. Meaning, you respect your collective common humanity and your diverse experiences which make you stronger, together. We all benefit when varied voices speak, lead, and are valued. Here at PS, we take pride in our commitment to diversity, equity and inclusion. Starting this firm commitment in April 2021, we recently completed our steps 7 and 8: Diversity Recruitment Training and the launch of our Mentor Program. Our 5 pillars of success lay the foundation of our Strategic Plan: people, organization, clients, partners and community.

Key Takeaway: When we value diverse viewpoints and people, we earn the best talent, imagine the best innovations, and deliver the best results. We invite you to follow along with us in this commitment, and we’d love to learn more about where your organization is on your DEI journey. Any questions or insights we can offer to your organization, we are happy to help! 

We have two feet firmly planted in the present, with a focus on the future. we’ve got you covered. Reach out to your PS contact today if you have any questions.