With general giving down more of a concentration needs to be put on soliciting major donors within your ministries. Individuals give over 80% of all giving nationally and there are donors on your database who can and will give more if they are approached correctly. A simple fact in fundraising is that people give to people and the most effective way of obtaining a major gift for your ministry is a face to face “ask”. Before we talk about how to go about making the “ask” we need to clarify what we mean by a major gift. There is no hard and fast answer to this because a major gift to your ministry may be $5,000 while at another organization it may be $25,000. So use your judgment on this and set the level at a realistic and obtainable level for your ministry.
WHO are the major donors? If you have never read the book, “The Millionaire Next Door” I strongly encourage you to do so. This is the classic case of just who the millionaire is and it is NOT what you think. These people don’t dress flashy and drive the most expensive cars and live and the most fancy houses. Instead, most live frugal lives of simplicity and have saved a lot of money. Read the book and you will know what I am talking about.
WHERE should I “ask” a major donor for a gift? ALWAYS “ask” a major donor on their turf, never on yours. You want the donor to be relaxed and in control. This is not about coercing a gift from someone but rather building a partnership of cooperation and mutual respect.
WHEN is the right time to solicit a major donor? The best time to solicit a major donor for a gift is when they are ready. Patience and being attentive to the donors’ wishes and signals is very important. Remember you want the donor to be comfortable and at ease. You don’t make one visit and “ask” for a $1 million dollars. Those types of gifts take time to nurture. A general rule of thumb is as many 0’s are in the gift is how many visits it should take.
WHO should solicit the major gift? Friends, colleagues, and volunteers are great to open the doors to get you in to meet the donor but they should not make the “ask”. The “ask” should come from the executive director/president/CEO of the ministry. The most highest-ranking person in the ministry should make the “ask”.
HOW should the solicitation be made? The solicitation should be made by offering them the opportunity to make a difference. The opportunity to change the world. Remember you are “asking the person to invest in what you are doing. You are asking them to partner with you and come along side. It is not about the money it is about making a difference.
WHAT does the major donor expect when asked? The donor expects you to be passionate and knowledgeable about what you are talking about and to be professional and well organized. They also expect that they are not the only ones involved. They want to know that they are an important piece of the puzzle not the whole puzzle.
If you noticed we never talked about money. We talked about opportunity, excitement, passion, and the chance to be a part of something big. The chance to make a difference. If you want to receive a $1 million gift you need to have a $1 million dollar idea. An idea with a plan and the facts to demonstrate the difference it will make. Remember people give to people and as we approach the traditionally slumping summer months, the time to start building those relationships with those major donors on your mailing list is now.
To read past Grant Alerts or to order your copy of the “Directory of Foundations Supporting Christian Organizations” go to www.christiangrants.com.
God Bless,
Timothy M. Boling
Timothy Boling
CEO
Christiangrants.com
Issue: June 2003
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