Here’s how to get a quick major gift

Do you have current donors that could give more, but haven’t?

Here’s how to turn your most loyal donors into heros, quickly.

This is a snapshot view of how to get a major gift sooner than you had planned. “Smaller” major gifts from $1,000-$5,000 can fit into this category if you know the donor well and do your homework.

And please remember that major gifts are typically not a quicky thing. If you are having cash flow challenges and/or you have donors that love you and they have the financial capacity to make a larger gift, go for it!

Start here

First, identify your top 10 donors – not necessarily by gift size. Take into account how long they’ve been giving and how much they care.

Although you won’t be asking all of these people for a major gift at this moment, it’s really important to have a running list of current donors that you are paying special attention to.

Then, rank them by readiness. Who’s ready to be asked now and who do you need to learn more about.

If they already know and care about your organization and the donor and asker (the executive director or a board member) know, like, and trust each other, it’s probably a good match.

A good way to tell is if the donor is likely to return the email or phone call from the asker

3 Steps to the Perfect Ask

Meeting targets

Step 1: Make the Match

Match your top prospect and the person that has the most influence with them.

Sit down together and plan it out. Whether you’re the ED or a board member, support your colleague and set out to succeed as a team.

Become a cheerleader – this will give you both energy. You’re in this together as leaders of your organization. 

Step 2: What to ask for and how much

Before you call the donor to schedule an appointment, you need to be very clear about what you want and why.

This is an example of a children’s theatre company. They no longer can sustain their programs with their current revenue stream.

They need to ask for operating dollars. Here’s the strategy.

After identifying the perfect donor, they picked the program that they care about the most. This donor has given for 3 years, $1,000 or less.

The Problem

As the organization has grown over the last several years, it became harder for them to predict tickets sales, casting, titles and other variables that impact revenue.

As a result, their income no longer covers the cost of operating the program. 

They have cut expenses without jeopardizing the integrity of the program and are looking at longer-term solutions.

The Solution

They’re turning to the people that care to make it work. Similar to other arts groups and nonprofits, XXX is establishing a special giving program to bridge the gap.

BlogThey decided to ask this donor for $5,000 based on what they’ve given to other nonprofits and their previous giving to them – $1,000.

They named it The Special Program ___Circle after looking to other children’s arts organizations across the country for fresh ideas.

Step 3: The Perfect Ask

It’s important to be honest about why you want to get together. You don’t want the ask to be a surprise.

Hi _________, (keep it light and upbeat)

Since they already know you, say you’d love to get together for coffee to share some new developments with XXX and the Special Program.

The board is taking a closer look at Special Program and how to keep it strong and sustainable. There are some giving opportunities that you think they’d be interested in learning more about.

You’re approaching several key people that have shown generosity and commitment to XXX, and have the knowledge and interest to possibly get involved.

What to say during meeting.

Make it a conversation, not a presentation.

1. First, thank them for their past involvement. Their support as a sponsor or volunteer has kept XXX strong to this point. You couldn’t have done it without them.

2. “As I mentioned on the phone we’ve been evaluating Special Program and it’s future for the last few years. We’ve effectively maintained the quality of Special Program with sponsorships and ticket sales.”

3. Be transparent – let them know the reality about the difficulties in predicting ticket sales, casting, show titles…They will be honored as an insider to what’s going on. 

4. “To make sure XXX remains top notch and we can sustain the quality that the community has become accustomed to, we’re establishing a new special giving program.

The board is approaching several key supporters like you to come together to take this important step forward.

We would like you to consider a gift of $———-as one of the lead supporters of the XXX ____Circle.”

“We would like you to” is preferable to “help us”. You’re going for a partnership relationship with your donors. Not a one-up/one-down.

Shhhh

At this point resist the temptation to say anything.

Think of this metaphor: they are now having a committee meeting in their head. “Let’s see, will John go for this? What account could we take it from…”

If you start talking out of nervousness, you run the risk of botching it. That happens a lot. 

If they say maybe, ask them when you should get back with them.

THE MOST IMPORTANT THING: You’re job is for the person to walk away feeling good no matter what.

If they say no, thank them anyway – and mean it. They’ve given you good feedback (your conversations will have been useful), they’re loyal and generous supporters…

If you can do this, you’ve succeeded.

After the meeting

Follow up. Send an email to thank them whether they said yes or no. If they agree to make the gift, send them something in writing re-stating your understanding of the agreement.

In addition to a formal thank you letter, send a handwritten note from a different board member. The more people that connect with the person the better. 

If they need to think about it, follow up when they told you in your meeting. DO THIS. This is where many nonprofits fall down. 

General rule of thumb with ALL giving – make sure that a board member calls to thank donors within 48 hours of the gift.

You will increase the chances of a second gift significantly.

It’s also the right thing to do.

How quickly can you make this happen?

 

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