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Raising Money From High Net Worth Individuals
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Raising Money From High Net Worth Individuals

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  • 1. Raising money from High Net Worth Individuals Simon Burne August 2010
  • 2. • Major donor fundraising is just as much about the donor as it is the project • You don’t need bricks and mortar • People make this more complicated than it needs to be! • Knowing what to do; deciding what to do; being disciplined = success! • 7 Steps & Moves management are all you need.
  • 3. • More professionals and fewer volunteers • Increasingly volunteers cultivate & professionals ‘close’ • Higher expectations • Doing more with less • Involved in higher solicitations
  • 4. Challenges Good News • Multi-year pledge • Still giving reluctance • Relationships and • Economic environment Leadership counts uncertainty • Stewardship is key • Foundations stretched • Trust and confidence in • Corporations dropping your organisation is key out • More potential donors • Everyone is doing it!
  • 5. Seven Step Strategy
  • 6. Seven Step Strategy PLUS Leadership Role 1. 2. 3. Discover Research Introduce 5. Ask Suspects Prospects 7. Maintain 6. Thank
  • 7. Some rules of thumb • Ten suspects will yield one prospect • Seven prospects will yield one gift • 50% of major donors will give again
  • 8. How many donors do I need?? Gift Size Number Value Donors £5m 1 £5m £3m 2 £6m £2m 4 £8m £1m 6 £6m £100k- £1m 20 £5m Total 33 £33m
  • 9. How many donors do I need?? Assumptions Prospect Conversion 8 to 1 External Conversion 25 to 1 Prospect Research Wealth Band Matches Conversion Gift Level Total £50m+ 2 0 500,000 125,000 £25-50m 6 1 250,000 187,500 £10-25m 10 1 100,000 125,000 £5-10m 112 14 50,000 700,000 £1-5m 768 96 10,000 960,000 Influential 355 44 10,000 443,750 Total 1253 157 2,541,250
  • 10. Critical success factors • Powerful Case for Support – just what do you want the money for? • Excellent research • Excellent cultivation • Making the ask • Loving your donors • Asking again
  • 11. Finding your prospects
  • 12. Developing a Prospect Hypothesis • Describe the sorts of people who: • Have the right levels of wealth • Have evidence of philanthropy • Have some connection to the cause • Are active in fields other than their work • Have business interests whose brands fit with you
  • 13. Researching your prospects • Start with your database – they already love you! • Use research companies or employ a researcher • Use all published information • As names come up, ask your trustees and existing supporters if they know them
  • 14. Cultivation • How to meet them? • Go where they go • Hold an event they would like • Use celebrities • Ask for a meeting • Events • Staff well • Brief and debrief fully
  • 15. Cultivation • Assign a staff member to each MD • Provide them with the information they ask for • Invite them to a project visit • If they come, you’ve got them!
  • 16. The ask • Many volunteers hate this • Best done by a professional • Know the right level of ask • If in doubt, ask them
  • 17. Follow up • Thank • Inform • Involve • Report • Surprise • Celebrate
  • 18. What is leadership? • Wealthy donors influencing other wealthy people to give • Wealthy donors who will use their networks • People will follow leaders – lead gifts are critical • Big donors will push average gifts up – small donors will push average gifts down
  • 19. Secrets of a Leadership Forum • Excellent Chair who has made a big gift • Clarity of purpose • Clarity of targets • Time limited • High-powered • Exclusive