Take the Plunge into Major Gifts

If you have ever attended any of our educational content, you will know how much emphasis we put on major gifts. However if your program is stuck in a fundraising event based model, making the shift to a truly major gifts based model can be easier said than done. It can involve changing the culture of the entire organization and reshaping people’s preconceived notions on fundraising. It's time to dive deeper into the fundraising pool and explore the transformative potential of major gifts. Here’s how to start with a major gifts approach if your fundraising strategy has been primarily event-driven.

1. Understand the Potential of Major Gifts

Before you take the plunge, it’s crucial to recognize the impact major gifts can have on your organization. A major gift, typically defined as a donation of $50,000 or more from a single contribution, can significantly advance your mission, allowing you to fund new projects, expand services, and secure your financial future. Understanding this potential when it comes to time-for-dollars is the first step in shifting your focus and resources.

2. Identify and Segment Your Donor Base

Look beyond the guest lists of your past events. Use your existing database to identify potential major gift donors. These are individuals who have demonstrated a high level of engagement or have made substantial contributions in the past. Segment these donors into a separate list for personalized outreach. Remember, major gift fundraising is about building relationships with individuals, not marketing to the masses.

3. Cultivate Personal Relationships

Transitioning to major gifts fundraising requires a more personalized approach. Assign team members to manage relationships with potential major donors. If you are a one person show, prioritize your time with your top givers and potential givers and work your way down. This involves regular, meaningful, and genuine communication to understand their passions, interests, and how they align with your mission. Share stories of impact and the difference their support could make, laying the groundwork for a major gift ask.

4. Develop a Case for Support

Create a compelling case for support that clearly articulates why your organization needs major gifts. Highlight very specific projects or initiatives that these gifts will fund, and demonstrate the impact of these investments. Your case for support should resonate with potential donors on an emotional level, highlighting the status quo that will continue if you are not successful in your fundraising goals.

5. Create a Stewardship Plan

Major donors are investing in your organization's mission and vision. Develop a stewardship plan that acknowledges their contributions in meaningful ways and keeps them engaged with your work. This can include personalized updates, exclusive events, or opportunities to see their donations in action. It’s best to be proactive rather than reactive, with a calendar built out to ensure that your donors are properly thanked and stewarded throughout the year.

6. Be Patient

Decisions about $50,000+ gifts are not usually made overnight. If someone has accumulated that level of wealth where they can give that substantial of a contribution, they likely did not get to that point by making snap financial decisions. That is why it’s important to work on the donor’s timeline, not yours. Cultivating and soliciting major gifts takes time and patience. Celebrate small victories along the way and keep your team motivated. While it might feel like slow going sometimes, even one major gift from a single donor can cover months of work on smaller gifts.

The recognize the gravity and the daunting nature of major gifts. However the most successful fundraising campaigns will usually have 80%-90% of their campaign total be in the major gifts category. So if your goal is dollars in the door for your nonprofit, this aspect of fundraising is not optional. Regularly review your major gifts strategy to assess what’s working and what’s not. Be prepared to adjust your approach based on feedback from donors and the success of your efforts. Continuous improvement will help you refine your strategy over time and drive transformational impact for your organization.

Need help refining your major gifts strategy for your nonprofit? Reach out to us! We help nonprofits build a more sustainable fundraising structure and scale up their revenue, and would love to learn about your organization.