Major Gift Strategies That Work

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To grow philanthropy in the new economy, savvy nonprofit board members, executives and advancement leaders have increased efforts to solicit major gifts. Learn how to align a fundraising team to secure “stretch gifts.” Gain insights to help develop and execute strategies for your team to discover, qualify, engage and ask the right donor-investors. This webinar will offer ways to reach and find resonance with donor-investors and to sustain a compelling conversation for effective engagement and solicitation of major gifts. Hear how to execute a fundraising plan that brings real returns on investment.

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Major Gift Strategies That Work

  1. 1. Major Gift Strategies that Work Rod Miller Special Thanks To Our Sponsors
  2. 2. Helping ordinary people raise extraordinary amounts for nonprofits is all we do, and we love it. A Proud Sponsor of NonprofitWebinars.com
  3. 3. Today’s Speaker Rod Miller Chairman, Executive Institutional Advancement Exchange Hosting: Assisting with chat questions:Sam Frank, Synthesis Partnership April Hunt, Nonprofit Webinars
  4. 4. Major Gift Strategies That Work Rod Miller, CEO Executive Institutional Advancement Exchange www.ExecIAE.com
  5. 5. Three Essentials• Align trustees, chief executive, advancement• Agree priority-based fundraising plan• Develop discovery, engagement, solicitation © Executive Institutional Advancement Exchange LLC 2011 2 www.ExecIAE.com
  6. 6. 100-day Differentials for Success1. Match values2. Develop culture of trust3. ID who is pre-disposed4. Sustain conversations5. Know, when, where, how and what to ask for6. Follow-through © Executive Institutional Advancement Exchange LLC 2011 3 www.ExecIAE.com
  7. 7. Conclusions from Case Examples• Institutional Leader – Major gift fundraising – Envision and execute – Strategic and hands-on priority• Major gift fundraising – Team activity – Trustees, chief executive, advancement – Know roles and added value © Executive Institutional Advancement Exchange LLC 2011 4 www.ExecIAE.com
  8. 8. Why Emphasize Major Gifts?“62% of the donors in the study reported “beingasked” as a key motivator for giving!” Bank of America Study of High Net Worth Philanthropy, Center on Philanthropy, Indiana University © Executive Institutional Advancement Exchange LLC 2011 5 www.ExecIAE.com
  9. 9. News Flashes• “…where donations to universities are still a relatively new concept…The University of Auckland, New Zealand’s largest, launched the campaign with the announcement it had already raised $48 million from a range of significant donors…” November 23, 2008 (www.universityworldnews.com)• “Despite beginning and ending during serious economic recessions, the most ambitious fundraising campaign in state history soared past its $600 million goal to raise $853 million…” January 30, 2009 (www.pmr.uoregon.edu)• “Indiana University and its fundraising partner, the IU Foundation, today announced that they are raising the goal by $100 million, or 10 percent, to $1.1 billion…campaign, which runs through 2010, already has realized 95 percent of its initial $1 billion goal…” February 6, 2009 (www.iufoundation.iu.edu) Executive Institutional Advancement Exchange LLC 6 www.ExecIAE.com
  10. 10. Trust is Key…and engagement builds trust… © Executive Institutional Advancement Exchange LLC 2011 7 www.ExecIAE.com
  11. 11. What Defines a Major Gift?1. Specific dollar amount set by institution2. Relative from donor’s point of view3. Requires conversion from an asset © Executive Institutional Advancement Exchange LLC 2011 8 www.ExecIAE.com
  12. 12. Aim High“Shoot for the moon. Even if you miss, you’ll landamong the stars.”- Les Brown Executive Institutional Advancement Exchange LLC 9 www.ExecIAE.com
  13. 13. 3 Steps to Secure Major Gifts1. Identify potential donor-investors2. Engage potential donor-investors3. Move from potential donor to donor-investor, in other words… Ask © Executive Institutional Advancement Exchange LLC 2011 10 www.ExecIAE.com
  14. 14. The Ask TeamAgree to• Who? (trustee, chief executive, advancement staff)• What? (responsibilities)• When? © Executive Institutional Advancement Exchange LLC 2011 11 www.ExecIAE.com
  15. 15. R.O.I. Institution 1 Institution 2 Institution 3 Create centers of Clarify the role of trustees Use networks to find newReposition excellence. to seek resonance with donor-investors.strategy the community through outreach. Set advancement goals to Initiate six-month review Add advancement staff,Organize address needs and to for how each part of refresh the case foradvancement process establish a central advancement contributes fundraising and identify advancement to raising funds for the the institution’s program organization. institution. experts to be engaged in fundraising. Chief Executive to set the Secure firm commitments Chief Executive to commitIntegrate agenda with priority on from trustees to funding serious time topriority behaviors getting the Chief Executive and fundraising. fundraising. into the community. © Executive Institutional Advancement Exchange LLC 2011 12 www.ExecIAE.com
  16. 16. What is the Institution’s Story?• What is the added value of your institution• Clarify who you are, to help decide whom you should engage © Executive Institutional Advancement Exchange LLC 2011 13 www.ExecIAE.com
  17. 17. Keep it SimpleOne Hollywood producer used to say “If you can’t write your idea on the back of my calling card, you don’t have a clear idea.” - David Belasco The Clear Idea © Executive Institutional Advancement Exchange LLC 2011 14 www.ExecIAE.com
  18. 18. Step 1: Identify Potential Donors• Access = Open Door• Capacity = Resources/Philanthropic• Emotional Connection = Match to Mission © Executive Institutional Advancement Exchange LLC 2011 15 www.ExecIAE.com
  19. 19. Step 2: Engage Potential Donors• Do the math – Relatively few will give – Engage many who are well-qualified – Need 5 qualified individuals for 1 major gift © Executive Institutional Advancement Exchange LLC 2011 16 www.ExecIAE.com
  20. 20. Engagement Essentials• 6 to 12 engagements before ask• Listen for what motivates potential donors – Acknowledgment – Noble goals – Gratitude• Lively case and conversation• Deal with spontaneous gift• Ready to say how gift will help © Executive Institutional Advancement Exchange LLC 2011 17 www.ExecIAE.com
  21. 21. Inspire Action: 4 Examples1. Control cancer2. Inspire kids to careers in science and technology3. Link how cells age to human aging, cancer and dementias4. Excited about symphonic music © Executive Institutional Advancement Exchange LLC 2011 18 www.ExecIAE.com
  22. 22. The Art of Engagement…… is the Art of Conversation We should listen more than we talk © Executive Institutional Advancement Exchange LLC 2011 19 www.ExecIAE.com
  23. 23. Systematic Approaches1. CEO/ Board Chair: On-site briefings and “beneficiary-touch”2. CEO: Individual visits to stakeholders to invite input on strategy3. CEO/Board Chair: Enhancement task force4. “Honor upon honor”5. CDO: Visits to trustees/board members to enlist in outreach6. CDO/MGOs: “Discovery” visits © Executive Institutional Advancement Exchange LLC 2011 20 www.ExecIAE.com
  24. 24. Step 3: The Ask• If the identification and engagement are done well, there will be no surprises! © Executive Institutional Advancement Exchange LLC 2011 21 www.ExecIAE.com
  25. 25. Structure Conversation/Ask1. Introductions2. Reinforce engagement a. Acknowledge motivations b. Reflect on conversations c. Recognize donor’s needs3. Obtain small agreements ----------------------------------------4. Present the Ask5. Specific $ amount6. Silence ----------------------------------------7. Close the visit8. Follow up © Executive Institutional Advancement Exchange LLC 2011 22 www.ExecIAE.com
  26. 26. Sustained Conversations• Find up to 7 ways to thank donors• Between asks, set 3 other engagements• Keep in touch with major donors as you would with a good friend © Executive Institutional Advancement Exchange LLC 2011 23 www.ExecIAE.com
  27. 27. Summary• Identify the added value of an institution• List key stakeholders• Engage institutional leaders• Agree on a workable plan• Be willing to ask © Executive Institutional Advancement Exchange LLC 2011 www.ExecIAE.com 24
  28. 28. Suggested ReadingHenry A. Rosso, Achieving Excellence in Fund Raising, San Francisco: Jossey-Bass, 1991Rod Miller, “Beyond Benchmarking Institutional Advancement: Jump-Start to Fund RaisingExcellence” in D. Cushman and S. King (Eds), Excellence in Communicating OrganizationalStrategy, Albany, NY: The State University of New York Press, 2001 (Sample on-line via GOOGLE)Planned Giving Strategies that Work http://www.slideshare.net/NonprofitWebinars/planned-giving-strategies-that-workWhy, When and How the Big Gift Campaigns Workhttp://www.slideshare.net/NonprofitWebinars/why-when-and-how-the-big-gift-campaigns-work-7285907 © Executive Institutional Advancement Exchange LLC 2011 www.ExecIAE.com 25
  29. 29. Find the listings for our current season of webinars and register at NonprofitWebinars.com Chris Dumas Chris@NonprofitWebinars.com 707-812-1234 Special Thanks To Our Sponsors

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