Major gift cultivation is my favorite part of fundraising. It allows you to build relationships with incredible people who are making the world better.
Here are five tips to help you land the transformational gifts you need to advance your organization’s mission.
1. It is not harder to ask for $1MM than to ask for $1,000. In fact, it is a lot more fun. However, your success depends on a variety of factors. Donors are investors – they are looking for the best return. Does your organization have a track record of achievements that they can build upon? Do you have other donors at the level you are requesting to add credibility? Is there an inspiring vision or measurable outcome that the gift will make possible? Most importantly, does the donor have the capacity to fulfill your request? It is all about who is sitting across the table.
2. In fundraising, no may not mean no. I remember hearing this at a conference many years ago, and it has rung true ever since. No often means not now, not that amount, or not that specific project. Dig a little deeper, and you may uncover other opportunities.
3. Major gifts don’t happen overnight. You don’t ask someone to marry you on the first date. It is important to help your organization’s leadership understand that it is likely to take at least 18 months of cultivation to land a donor’s first major gift to your organization.
4. Your job is not to ask for money. Your job is to be a connector – helping donors connect with their passions to make a difference in the world and helping your organization find the support it needs to achieve its mission.
5. Ask for the highest amount you can (within reason). It is extremely unlikely that you will ask for an amount that will make a donor angry. Do your homework. Research their giving capacity and evaluate the previous gifts they’ve given - to your organization and others. Consider how invested they are in your cause. Then ask for the biggest number you can justify. They are more likely to be flattered than offended. Bonus tip: if they say yes right away, that is a sign that you probably could have asked for more.
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