The Art and Science of Major Gifts

A former boss once told me that I was an Excel spreadsheet fundraiser, not a pashmina fundraiser, as my predecessor was.

What did she mean?

She meant that I liked data. I tracked information on my donors. I used it to make decisions to draft a plan.

The pashmina fundraiser? You can probably picture this woman: Pashmina scarf wrapped around her shoulders as she schmoozed from donor to donor.

Frankly, I thought I did both (but maybe sans pashmina around my shoulders). I also think…

your development team needs to do both when it comes to major gifts: combining the use of data to your advantage with genuine human connection.

But you need to not think just of it as “major gifts” but about your major donors. Because here’s the thing, people don’t want to just be thought of as someone who makes a gift, but as a person who cares deeply about the work. Who wants to make a difference.  Who wants to be recognized and acknowledged for their generosity.

Now think of your nonprofit. Think of your top supporters. Do you just think of them by how much they give? Do you have a list on your desk right now of those top donors?

What other information do you have about them readily available in your CRM?

How did they give?

Was it a check? Credit card? Stock? Wire transfer? DAF? Something else?

Why should you care? Because it tells you about the type of donor you have. It is a reminder that most wealthy people only have about 3% of their wealth in cash and when going for non-cash assets, your team can seek bigger gifts.

And what about the donor behavior as it relates to the frequency of giving? Every single year for many years? Or sporadically when they are invited to something?

But what about one step further – what generation are your donors? How does that impact their communication preference?

Is this too detailed? 

No. No it’s not. Because the data should tell you a story. The data should give you guidance on where to go next.

So as I get asked all the time: how do I get more major gifts?

The first thing I say is, let’s look at who you know and the data you have. And let’s look at your patterns, your themes, your gaps. Let’s look at where your data is telling us to go next.

This is what I would call the science of fundraising and especially major gifts (the Excel spreadsheet part).

Using data to your advantage. Using your analytical skills to find ways to be more successful.

Using new trends – like bunching of gifts and the rise of DAFs – to your advantage.

By taking the science of finding the right people and learning about them, you can then go into the art of fundraising (or the pashmina part).

By building relationships with them. Understanding what they REALLY care about. Observing and judging when is the right time to ask. Figuring out when it is appropriate to follow up.

Clients ask me all the time – what is the exact frequency of which I should be following up with my donors? What is the exact right amount to ask a donor for? How do I know when is the right time to ask for a gift? Is the first meeting ok?

And the answer is always going to be: it depends. There is no exact answer.

Great fundraisers have to be ok with that. Ok with the uncertainty. Ok with risk. Ok with not always getting it right, and dare I even say it… rejection.

That happens because fundraising is not simple.

It’s not a formula.

You’re dealing with people. Real people with real emotions with real lives and who sometimes have bad days. People who watch the uncertain economy and don’t know what it will mean for themselves and their family.

So part of the unknown in fundraising, especially as it comes to working with your major donors is to not make assumptions about them.

Every person, every organization, every movement has a story. 

And it’s your team’s job to find out your donor’s story. Not by assumptions, but by asking great questions and really listening to their answers.

Great major gift fundraising isn't about finding the perfect formula. It's about having enough information to know where to focus, enough curiosity to understand the people behind the data, and enough confidence to build relationships without knowing exactly how they'll unfold.

Because when you really think about it, what are major donors? They are people who deeply care about your mission and have the capacity to do something tremendous about it.

Strong major gifts programs find ways to capture the relationships with those people and steward them to stay with your nonprofit.

Is your team ready to solicit for your next biggest gift?

Is your team confident to approach a top prospect to create a hugely lasting legacy?

Is your major gifts program to ready sustain the generational wealth transfer, unprecedented technology changes, or new program offerings to solve the problems of the day?

If not, let’s get time on the calendar to talk about what’s possible.