The Six Rights to a Successful Major Gift

Put on your ruby slippers and say it with me three times, "fundraising would not be a success without a major gift donor." Fundraising professionals use different strategies to fundraise for their nonprofit organizations, but one strategy is always a game-changer, and that is setting up a major gift program. Lately, we are seeing a trend, 90% of donations come from 10% of donors. That small but influential group of donors are major gift donors. 

The formula for securing a successful major gift follows the "six rights" of fundraising,

The right person asking the right prospect for the right amount for the right project at the right time in the right way. 

The Right Person

Major gift donors are real people that give to people to help people. They make their decisions based on their relationship with the organization, whether it is with the executive director, a board member, a staff member, or even a passionate volunteer. Think about who from your organization your potential donor is likely to say, "Yes!" to. The person making the ask would be someone who has the strongest relationship with the donor. 

The Right Prospect

Identifying a major gift donor is usually done through prospect research. A potential prospect could be someone with an impressive, giving history but is waiting to be asked to upgrade their gift amount. It could also be someone who is passionate and shares your organization's values, but no one has reached out to them to make a gift to your organization yet. Donors make their gift to organizations that align with their interests and vision. 

The Right Amount

There are different ways to figure out the right amount to ask. We could look at each donor's giving history and their philanthropic efforts (how much they give to other organizations and for which causes). We could also estimate gift amount to ask based on their wealth (what kind of jobs they have and whether they have any real estate or business affiliations). To go for the big ask, you would have to make a compelling case (and have a strong relationship with the donor to do so). You would also not want to go too low and regret it. It is important to ask the right amount from each of your donors. 

The Right Project

The prospective donor would most likely be interested in supporting a close and dear project to their heart. Asking a donor to support a meal program would secure a gift more successfully than asking to help buy a copier machine. Donors want to make a difference. Therefore, connect them with the right project that matches their interests.

The Right Time

Determining the right time to ask for a major gift depends on how well you have cultivated your donor for the big ask. You will know when the donor is ready to give after you have engaged with them a couple of times (we would recommend engaging with your major gift donors at least four to six times before the big ask). You can cultivate your major gift donors by arranging small conversations to get to know them better and their interests, inviting them to intimate donor events, or connecting them with volunteers or board members. 

The Right Way

The right way to secure a major gift is through building a genuine relationship with the prospective donor and be respectful about their decisions. Donors want to feel valued and that their relationship with the organization is transformational, not transactional. Do not rush the cultivation process, and do be generous with your stewardship efforts. 

It is important to note that building a solid major gift program takes some time and energy, but it will be worth the investment. Let us help you plan and develop your pipeline of loyal major gift donors. Contact Spark Group Consulting today for a free 30-minute chat!

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