BCSVP Major Donor Fundraising

People Give to People Dec. 8, 2009 Major Donor Fundraising

One of Life’s Greatest Fears
Studies show that there are three big fears in life:
Death
Public Speaking
Asking for Money (yikes!)

It’s All About Relationships
It’s a team effort
It involves everyone in the organization
You never know when she might call
You never know when he might visit
You never know when they might donate

Definition
An individual (or family) able to donate at a level which will impact your work significantly
Is this $500? $1K? $10K?
Transformational?
You need to decide.

Major Donors are investors.
They are Partners in your work.
Greater accountability
More information
Access to staff
Special treatment
Status as an insider with the BOD

How Do I find Major Donors?
Rule # 1
Stay inside your service area.
Rule #2
Start with your Board.
Rule #3
Do your research.
Rule #4
Be certain of what you are asking for.

The Rules
Rule #1 Stay inside your service area.
When dealing with local issues you will almost never get a major gift from someone who lives outside the area. They have no vested interest, no affinity, no connection.

Rule #2 Start with your Board.
Board members should be your 1st source of major gifts.
Not all can be major donors, but they should give something.
Acquiring Board gifts is the task of the Board chair.
20% of your ops budget should come from your Board (ouch!).
Without a balanced Board sustained growth will be difficult.

Rule #3 Research
Major Donors fall into 2 groups:
1. Those personally touched or motivated by your programs and services
2. Those influenced or impressed by what you do
Start with your existing list.

Research Con’t.
Review your list of clents/users/donors/board with a fine tooth comb
Research donors of similar organizations. Look at Web, annual rept., events, sponsors, etc.
Call a special Board meeting to review prospects
Find out who the biggest players are in the community

Cultivation
Gather basic info: name, phone, email, company, title, interests, spouse, children, giving potential, connection to your org.
Create a database. If you’re small you don’t need anything fancy. If you’re big, you need a donor management system

7 Basic Techniques
Bring donor to your organization
Go out and meet the donor
Keep in touch with the donor
Look for ways to help the donor
Find ways to connect the donor to programs and staff
Once gift is received, thank quickly & personally
Recognize accordingly

Bring Donor to Org WHY?
You’ll have their undivided attention
You can show how a donation will be used
You can introduce them to staff
You can introduce them to clients
They can ask ?s
They’ll acquire and share info with others
They may give you a gift right away!!

Go Out and Meet Donor WHY?
Shows initiative
Allows you to hone selling skills on their turf
You can ask for advice instead of $
If your prospect is speaking somewhere you can attend and make a point to connect
Face-to-face contact is imperative

Keep in Touch WHY?
Face-to-face is not enough
Send them a note after any face to face
Put them on your mailing list
Send them press releases and press clippings
Invite them to events
Consider having a client send a thank you note

Be of Service to Donors WHY?
As an ED (or development officer), you have numerous contacts that could be helpful
Invite a prospect to an event hosted by a prominent community member
Watch for opportunities…don’t spend a great deal of energy on this

Bring Donors Closer to Org WHY?
Having prospects meet staff creates a sense of community. The prospect may “click” with someone sharing common interests
It enhances the feeling of partnership
Prospects like the idea of being able to communicate with multiple staff

Rule #4 Be prepared
You need to be confident of what you are asking from each donor. Understand their potential, their interests, and the preferred approach.
Who should ask? What should
They ask for? What’s your
backup plan?
Do you have the appropriate
materials? Case Statement?
Video? Powerpoint?

Meeting Chronology
Introduction – 5 mins
Personal interaction – 5-20 mins
Tell your story – 10-15 mins
Ask – 5 mins and maybe longer
This meeting is about your donor, not you. Do not monopolize the conversation. Spend a lot of time listening.

Solicitation
You’re a salesperson. You need to know what you’re selling inside and out
You need an arsenal of stories; anecdotal evidence of success
You need to understand your finances
You need to articulate your uniqueness
You need to know what is likely to appeal to the prospect
You cannot sound desperate

After the Ask
Thank-you note
Phone call
Info on program as it develops
Invitations to events
Occasional visits

You Got a Big Gift YEAH!
Call immediately and thank the donor
Send a note signed by staff/clients
Be humble
Don’t show disappointment if your gift was smaller than anticipated

Recognition
Thanking is private. Recognition is public.
Consider the donor’s wishes
Get permission before doing any of the following:
Press release
Naming opportunity
Donor wall
Newsletter, ann. Rept. Listing
Recognition event

No Gift… No Worries
Try and find out why:
Is there something that concerns you about our organization?
Would you be more interested in making the gift over time?
Would another time be better for you?
What can I do to help you say yes?

Each donor will have a unique answer. Listen and respond accordingly.
No is not always no. Sometimes it means…later, or if, or but, or maybe.
Just remember that it does not mean NEVER.

Thank You!!

BCSVP Major Donor Fundraising

by BC Social Venture Partners on Dec 14, 2009

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