e-Newsletter: Connect to Solutions

Major Gifts…Building on the Relationship

Co-authored by CNE's Director of Operations, Susan Griffin & Affiliate, Larry Becker, CFRE

Even thinking about the “ask” for a major gift makes most of us break out in a cold sweat… and we haven’t even decided who to ask, for how much, and when?

While raising money is not easy these days, people are still giving.  There are some steps you can use to plan the approach for a major gift that will let you sleep (better) at night and greatly increase your success rate.

As mentioned in the September e-Newsletter there are easy ways to determine your best prospects for major gifts. And as many experts have already noted, the Executive Director and board members of your nonprofit organization already know the people you need to know to raise money.

It is important to remember the five I’s of fundraising when nurturing a donor relationship: Identification, Information, Interest, Involvement and Investment.

Sometimes there is a close relationship that already exists and a phone call to set up a meeting with your board member and the CEO is sufficient. This donor is already comfortable with your organization; they just need to know the reason for this gift and how it relates to their interests.

Other times there is a long relationship-building curve. The connection to this donor from your organization may be more limited, or out-of-date, and so you need to nurture the relationship before you can make the ask. You may need to provide information about your mission; determine their level interest; and/or get them involved in your organization’s mission.

This process may entail invitations to activities or meetings sponsored by your nonprofit, sending Annual Reports or other public information, and arranging casual meetings to talk about your organization and some of your goals and challenges without asking for a contribution. But each contact MUST be purposeful, so it is important to know your objective for each interaction. In many cases the objective may be to learn what the donor’s interests are… “seek first to understand, then to be understood.” Ask why they care about your cause. It may seem obvious, but having a child with the same illness as your cause represents may not be the real reason they are interested in supporting your organization.

This nurturing process may take from six to twelve months before you sense that the prospective donor is comfortable enough to approach for a major gift.

When you are really ready to make the ask, the contact should be made by the person who has the best relationship with the donor.  Based on your knowledge of that person, decide which approach is most suitable for requesting a meeting. In some cases a phone call is sufficient. For those times when an introductory letter to the prospective donor is advisable, the letter should include:

• What you did with previous donations from that donor and others
• What your major challenges are for this/next year
• The purpose of the meeting…to ask for their support

Follow the letter up with a phone call to arrange for a time to meet. It’s not a cold call – the person has already received your letter and information. Try a few times – it’s important to make the contact, but you don’t want to be a pest. E-mails can also be an easier option for some people to respond to, but they are also easy to ignore.
 
When you meet with some prospective donors, they may want to touch on the things you do have in common – jobs, kids, colleges, local sports. It’s not idle chatter, it’s learning more about them. Other people will want to get down to business right away.  Adjust YOUR style of communication to meet THEIR needs.

Briefly tell them your story – your organization’s goals, programs and financial needs.

Finally, ASK for the gift. If two people are on the call, make sure a plan is in place BEFORE the meeting who will actually say the words: “As I mentioned in the letter we sent you, we were hoping you’d consider a gift of $10,000 to support our work. Are you able to help us now?” or "We are looking for gifts between $500 and $2500. How much would you like to give?” Then wait for an answer.

Consider, in advance, what some of the objections might be, and be prepared with answers. If the response is “That is more than I can afford now” you might reply “How much would you be able to give?” When you’ve come to an agreement, reiterate it so both parties are clear, and remember to thank your new donor.

People who make major gifts like to give – it makes them feel good; they believe it is the right thing to do; and they like to be thanked. Not necessarily with big awards and public displays – many large donors are often reluctant to be in the limelight – but they want to know that their support has been used wisely and carefully. So remember to thank them personally and publicly whenever possible, and maintain your connection with them over time. 

Contact Jeff Vengrow, Director of CNE Solutions at (330) 762-9670 or vengrow@cfnpe.org for more information or to speak with one of our staff.