Walk into almost any traditional charity gala and you’ll immediately notice the hierarchy. There’s the VIP reception behind closed doors. The head table at the front of the room. Reserved seating. Long speeches filled with organizational jargon and insider references. Before the evening has really begun, first-time guests have already received a subtle message: “You’re…
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If you have board members who aren’t giving a monetary gift… If you have board members who are just seeing what they can “get away with” … If you have board members who could definitely make a larger gift… If you’ve got board members telling you their service is their gift… You’ve got a problem.…
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I often read Maria Popova’s newsletter The Marginalian, and recently happened upon a piece on Marianne Moore on the Three Elements of Persuasive Writing. Moore, a Pulitzer Prize and National Bo Award winner, had set down her views on writing in a series of essays. Being a connoisseur of the art of creating persuasive fundraising…
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Shifting politics are creating economic uncertainty for all, and it’s especially scary for U.S. nonprofits who, on average, receive about a third of their total funding from Federal grants. This means nonprofits today need to shift emphasis (and budget) toward individual donor engagement strategies. Giving USA reports 74% of all giving (lifetime + bequests) came from individuals last year.
Major individual donors are, by far, the largest slice of today’s philanthropy pie.
If I had to tell you what you need to do to succeed with major gift fundraising in one sentence it would be this:
Identify major donor prospects… qualify them so you know they want to build a deeper relationship with you… cultivate them… visit with them… listen to them… reflect back to them what you heard… ask them for something specific that resonates with their passions… steward their gift and communicate in an ongoing way to make them feel like the hero they are!
Whew – that was a mouthful!
But don’t worry. It’s definitely not rocket science. A shorter way to say this is:
Meet with donors. Listen to donors. Ask donors. Thank donors.
See — it’s simple!
It’s just good old hard work. Satisfying and rewarding work. And it’s a type of work anyone can learn to do.
Over my 40 years in fundraising, 30 of them working in the trenches as a director of development for organizations with budgets ranging from $1 – $40 million, I have asked for a lot of major gifts. I know what works, and what doesn’t work. Today I want to give you:
(1) some of my best pro tips and words of wisdom, and also
(2) answers to some of the questions folks frequently ask me .
I hope this information will help you tweak your mindset and invigorate your systems so you can be more successful fundraising in the coming year!
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I wish I had a dime for every time a nonprofit board or staff member told me
“We’re the best kept secret in town; if people knew what we do, they’d give to support us.”
Sound familiar?
If I had all those dimes, I could make a nice contribution to your cause.
But I likely wouldn’t choose to do so, unless you intentionally made it clear the following were important to you:
You see, merely “building awareness” will not ipso facto raise more money for your cause.
Just because I care about something, and somehow learn you are involved in doing something about that thing, doesn’t mean I’m going to support you financially.
Why should I?
There are a lot of good causes out there, and making a decision to invest in you is something I need to act on.
I’m busy.
I’m overloaded with information.
Inertia is just too powerful a force.
Want to do something to shake me awake?
DetailsI cannot tell you how many times I begin a consultation with a small nonprofit, only to discover they have no real donor database (to collect and store data) or CRM (to effectively manage donor relationships).
They’re still using Excel or Filemaker or something that was developed for the program or finance department many moons ago.
I also find many nonprofits do have a decent fundraising database, but aren’t really using it to their advantage.
It’s the equivalent of having a 747; then using it to drive down the block to the corner store.
If you’re not exactly maximizing the resources you have, or if you simply don’t have the resources you need, it’s going to adversely affect your fundraising results.
Today we live not only in an era of ‘Big Data,’ but in one in which much of this data is AI-enabled. Which means understanding why data is important, what data is most meaningful to you, and how to prioritize data collection and evaluation strategies to help you reach your goals has never been more important.
If your nonprofit fundraising and marketing strategy is not currently undergirded by data — whether AI-empowered or not yet — I guarantee you’re missing opportunities, working inefficiently and leaving money on the table.
Could you use a bit of guidance?
Read on…
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If you’re a small to medium-sized organization or movement, especially if you’re local, you’ve got a secret unfair advantage over your larger compatriots in the social benefit sector. Perhaps you’ve never loed at it this way. Perhaps you fret about not being able to compete with the behemoths. Perhaps you’ve been waiting to hire a…
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Every nonprofit should have a major gifts program.
That’s where the lion’s share of the money is.
It’s a rare organization that has a mailing list large enough to raise a million dollars from a million different $1 donors. But most nonprofits do have major donor prospects hiding in plain sight.
It’s up to you to find them; then move them along a cultivation path that prepares them – and you – to make an ask that results in a win/win values-based exchange.
Let’s review 7 secrets that will guarantee your major gifts program is a success, whatever your size.
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Not as much as you might think.
Yet people tell me all the time how much they’re afraid to ask wealthy people for major gifts. If you share those fears, it’s time for a little “clairification:”
Contrary to what your gut may be telling you, NOT asking is not making would-be donors feel good. Quite the opposite, in fact.
In this article, I’ll let you in on:
>> Three major donor truths. I’ll cover why (1) you must stop short-changing your would-be major donors by not offering them opportunities to be the change they want to see in the world, and (2) you must stop robbing would-be major donors of chances to create social benefit and feel good about themselves.
>> The magical role of a true philanthropy facilitator. I’ll show you how to encourage people — who truly want to give — to act on their passions.
>> The power of emphasizing transformation. The real purpose of monetary donations is not the amount someone can give but the outcome it can create.
>> The connection between philanthropy and self-actualization. You may have heard some folks say philanthropists give out of “enlightened self-interest,” but it’s more than that. Most people give because, on a deep psychological level, it makes them feel they’ve found a reason why they were put on this earth.
>> Six major donor triggers. We’ll explore how you can make donors feel so good they’ll want to say “yes” — and passionately — to your solicitation.
BOTTOM LINE: When you don’t make donors feel good, they’ll go elsewhere.
So, first let’s review what may motivate wealthy people to give.
F. Scott Fitzgerald is famously supposed to have told Ernest Hemingway “the rich are different than you and I.” “Yes, Scott,” Hemingway supposedly retorted. “They have more money.”
It’s good to remember major donors are, first and foremost, just people.
They may have more money, yet many of them actually don’t even feel “wealthy” (just as many so-called seniors don’t feel “old.”) In fact, a survey of 4,000 investors by UBS found 70% of people with investible assets of $1 million or more do NOT consider themselves “wealthy.”
What most donors have in common (no matter their net worth) is
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What’s love got to do with it?
Show me the money.
Some year’s ago the Chronicle of Philanthropy published an article about the need to Shake Up Development Offices and Curb Turnover. The article cites Penelope Burk’s five years of research which culminated in her groundbreaking book, Donor-Centered Leadership, as well as a revelatory study, Underdeveloped, by CompassPoint and the Evelyn and Walter Haas, Jr. Fund that found half of chief development officers planned to leave their jobs in two years or less. And 40% planned to leave fundraising entirely.
What’s going on, and how can you fix it?
Is it about money, or something else?
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