This way, there’s not cut and dry rules about what you will and won’t accept, but you can discuss it on a case by case basis. Planned Giving helps donors express their desire to see your cause flourish, and to get the best tax advantages for their giving. Planned Giving is future-oriented, and designed to benefit the donor and your cause. It’s not your plan, it’s your donor’s plan, and it’s an important part of your Major Gift program. Because the money is added in large lump sums, DAFs hold a lot of wealth.
Major gifts: What you need to know for fundraising success
- The executive director was confident that „if we build it, they will give.“ Unfortunately, that’s not how major gifts work.
- After a donor completes the form, you can send them an email, PDF, or another page with the instructions for the giving vehicle they’ve chosen.
- If you need to acquire new supporters and prospects, sit down with board members and stakeholders to see if they have any new donor referrals.
- So, take the data you’ve gathered, craft your strategy with precision, and watch as your fundraising efforts reach new heights of success.
Prospects should have markers from each category to be considered viable. This might look like a recurring mid-level donor who regularly attends your fundraising events (affinity), donates to multiple nonprofits (propensity), and holds a C-suite position at a large company (capacity). Whether you’re looking to start a major gift program from scratch or aiming to supercharge your existing one, my Scaling Major Gifts newsletter will be your go-to resource.
Tailoring Stewardship to Individual Donors
An expert 8 considerations for a new major gifts campaign not only has the experience to help you properly prepare for your campaign, but they also have the resources and outside perspective to give you the most accurate results possible. Beyond helping you determine your internal readiness to take on a capital campaign, a fundraising consultant partner may also provide fundraising counsel, strategic direction, or institutional capacity building. A top-notch fundraising consulting firm, like Averill Fundraising Solutions, can offer all of these key services.
Thank major donors
In addition, each person will be given a copy of the master prospect list and cards on each of their prospects. Unlike an informal, ongoing program, in a campaign, all the prospects must be identified before the campaign can begin. When all the names are in, prepare a master list of prospects as in Example A.
Acknowledging and Recognizing Donors
Planned giving allows donors to make larger gifts than they might be able to give during their lifetime, providing them with an opportunity to make a lasting impact on causes they care about. With the right strategies in place, you can inspire donors to make larger, tax-savvy gifts that are a win-win for them and your organization. If you are seeking major gifts, your donor base needs to be capable of reaching that amount. Similarly, if you find that many donors can give that amount, you may need to raise it. Each phase will look a little different depending on your nonprofit, your campaign, and your community of supporters.
Before you can set a reasonable fundraising goal, your team needs to evaluate whether your goals have been attainable in past campaigns. Depending on how you structure your campaign budget, you may plan to include the cost of the campaign in your fundraising goal. Or, you may use loans, reserve funds, or money from an unrestricted endowment to cover the cost of the campaign over time. Even with capital campaigns, your organization has to spend money to make money. The nature of asking a prospect for a major gift is much different than standard fundraising.
- You’ll want to set your fundraising goals with the two fundraising-focused phases (i.e., the quiet phase and the public phase) in mind.
- When you take a look at wealth indicators like these, you can better understand a prospect’s ability to give.
- Let’s put these insights into action and transform your approach to major gifts fundraising—your organization’s future successes are waiting.
You won’t just learn—you’ll leave with a practical framework you can apply on Day 1. Always try to be as personable as possible so they know you’re speaking directly to them and no one else. It might include meeting with them at community events or galas, where they would typically attend. For example, if you meet in person, of course say thank you before leaving.
A common error is that MGOs often get lost in the rules of grantmaking without seeing behind the rules are individuals seeking to do good in our world seeking to make a difference. Invite your prospects to volunteer, serve on a committee, in the office, in direct service, one-time or ongoing. Volunteering does more than lend hands, volunteering connects individuals to your mission in a direct and sincere way.
This proposal must be tailored to the potential donor’s interests and clearly communicate your case for support, emphasizing the specific impact their gift will have. Do not miss the need to have major gifts work in tandem with your nonprofit’s traditional fundraisers. When those teams work together, you often uncover golden cross-pollinating opportunities. Unlike many who think competition is a good angle, having internal teams fighting for dollars may not bring you the best outcome. The outcomes above can vary by situation and depend on many factors, including the MGO’s experience, the organization’s mission resonance or lack thereof with donors, supporting resources, and messaging. You might be surprised by the number of major gift prospects that you already have within your existing donor base.
A major gift is a significant amount of funds to help your nonprofit create more impact in its cause. This, too, is optional, but it is an excellent way to recognize and reward the committee as well as the donors. It can be a simple wine and cheese reception from 5 to 7 in the evening, with a speech announcing the successful conclusion of the campaign. Some groups have formal dinners, or ground-breaking ceremonies, in the case of capital campaigns. It is not necessary to be elaborate — simply gracious, warm, and rewarding to volunteers and donors.
Handwritten note cards, swag to remind them of your organization, invites to events, and sharing relevant articles that may interest them are great ways to build that connection and trust with your nonprofit. Individualized attention showcases your genuine investment in the relationship, not just the gift. Keep a record of each donor’s preferences, and use this information to make every interaction count. Trust and rapport are your currency—invest in understanding and serving your donors’ desires to make an impact. I’m particularly impressed with platforms like DonorSearch, which offers comprehensive campaign management features. For those focused on corporate giving, Kindsight can help you maximize matching gift opportunities.
The world of non-cash giving is diverse—aside from stock and real estate, there are tons of other flexible giving options. Understanding how different giving methods work will allow you to meet your major giving prospects where they are, speak knowledgeably, and offer flexible options. Pay close attention to your fundraising progress during the campaign to make the best decision for your organization. On the other hand, if your campaign is in full swing when the deadline rolls by, why end it arbitrarily?
When scheduling a meeting with donors, ask if they prefer to meet virtually or in person. Even for just a meeting, writing out your solicitation in proposal format helps you get your thoughts on paper and makes the ask go more smoothly. If you don’t write a full letter, at least jot down some talking points or a brief conversation outline to prepare. If you’re dreading picking up the phone and calling a donor, go ahead and get it over with.