Either way, this post serves one purpose…

To make sure you DON’T GIVE UP!

You’re Almost There

You really want to raise some major gifts for your organization this year. That means you’re going to need to ask. The next few posts will be all about the art and science of asking for a major gift.

But before you move forward, take a moment to reflect on where you are right this second:

• Do you feel like you’ve made some progress toward an ask?
• Are you ahead of where you were last year with regard to major gifts?
• Do you feel confident that you’ll be able to ask for major gifts this year?

An “Un-Post” to Reflect and Catch Your Breath

This is an un-post in the Major Gifts Challenge — I want to give you a chance to catch up if you’re falling behind (or just getting started). Even more important, you should take this time to ask me any questions about the process so far.

We’re almost halfway through the year. It’s nearly time to start asking for major gifts.

In my next post we’re going to cover “the ask”. It’s almost time to schedule your ask meetings with your lead prospects. Are you feeling ready?

Have you identified and cultivated a key group of prospective donors?

Have you scheduled your pre-ask meetings?

In Preparation for The Ask

What else do you feel like you need to know before you ask for a gift?

What (if anything) has been preventing you from keeping up with the Major Gifts Challenge? Is it fear of failure? Fear of rejection? Lack of time? What are your stumbling blocks?

If you’ve been procrastinating, losing focus, or if you’re feeling overwhelmed, take some time to review the action items in the previous posts. Which ones gave you pause? What have you had the most trouble completing? Again, where (specifically) have you stumbled?

Action Item of the Week — 2 hours or less

Your action item is simple: Ask yourself the questions laid out above and share your stumbling blocks and any lingering questions in the comments (or contact me privately through my contact form if you wish to stay anonymous).

Remember, this is FREE consulting advice. Please ask me your questions and tell me about your challenges. If you don’t, then I can’t help. The only stupid questions are the ones you fail to ask.

Fall is the most popular time to ask for Major Gifts, so if you are behind in any area, now is the perfect time to get clear and catch up.

Don’t be afraid. Don’t be shy. I’ve got your back. Leave your comment below.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

You will want to meet with all major gifts prospects, regardless of whether you already have a good relationship with them (board members and other volunteers), as well as those you need to meet for the first time.

Don’t rely on other types of cultivation activities, such as tours of the organization, and fundraising or programmatic events, to build relationships with your donors. Good relationships can’t be built in a group setting.

Pick Up the Phone to Schedule a Pre-Ask Meeting

Sometimes picking up the phone to schedule a meeting with prospective donors can be the scariest part. Many development directors prefer to send a “pre-call” letter, especially if you don’t know the prospective donors, to introduce yourself and let them know that you will call to schedule an appointment.

These days, you can also send an email “letter of introduction.”

However, whether or not you send a letter first, you still need to pick up the phone to schedule an appointment. It’s important to speak with the potential donor.

Fielding Objections to a Pre-Ask Meeting

Be prepared for reasons not to meet from both people you know and those you don’t. Here are some common ones (and feel free to share others, and your response to them in the comments):

• I’m too busy and I don’t have time to meet. Let’s meet by phone.
• What’s the purpose of this meeting? Can you send me something in the mail?

Your goal is to get a face-to-face meeting. You’re unlikely to get a major gift if you can’t even secure a meeting in person. How many responses can you come up with to rebut these rejections?

It actually may be more difficult to get a meeting with a board member than a complete stranger. They may think they see you all the time, when in reality, you have not ever seen them in a non-group setting. Do you know how they feel about your organization? What about serving on your board? Do you know why they got involved in the first place, and why they stay involved?

Have they ever been asked, in person, for a major gift? If you can’t practice on your board members, it will be much harder to ask people who are less involved.

Why Meet Face-to-Face With Donors?

There’s an expression in fundraising: If you ask for money, you get advice, and if you ask for advice, you get money.

The purpose of your meeting is multipronged:

1. To get one step closer to a major gift.
2. To build a relationship between the prospect and your organization.
3. To learn more about the prospective donor, their resources, and how philanthropic they are.
4. To update the prospect on your program and talk about the gaps in service and need.
5. To personally thank the prospect for their history of giving/involvement with the organization.

The primary goal of this meeting is to be one significant step closer to asking for a major gift, and it is your responsibility to move the conversation in that direction.

Ask open-ended questions about how the prospect would be interested in seeing your organization grow. How might they like to get involved? Would they be open to supporting the organization in more significant ways?

Where Should You Meet Prospective Donors?

The best place for these one-on-one meetings is at the prospect’s home or office. It doesn’t need to be in a restaurant for a meal or even at your office. Hold the meeting where it will be most convenient for the prospect.

Who Should Attend Your Pre-Ask Meeting?

Ideally, this meeting should be with a board member and a staff member (the ED or DOD). Executive Directors should go to meet with BIG major gifts prospects, and other staff members can meet with lower level prospects. Board members should go whenever possible, especially if they have an existing relationship with the prospect.

What Should You Bring to Your Pre-Ask Meeting?

You don’t need to bring anything. Sending follow-up materials is a great excuse to stay in contact. Keep the conversation “light” by not having paperwork. If you are more comfortable bringing facts and figures, bring them, but don’t pull them out unless specifically asked.

Attend your meeting knowing what you need the money for and be prepared to discuss it. Do you have a case for support? Are you able to discuss why you need funding?

Do not leave your pre-ask meeting without a follow-up plan.

The follow-up plan MUST get you one step closer to asking for a major gift. If you feel the meeting went well and you’re ready to ask for a major gift, you might say something like:

“I’m so glad we had the opportunity to meet today.

I value your thoughts about our organization and will consider them carefully (if you asked for advice).

I’d like to send you some additional information (if appropriate) as we discussed. And, I’d like to schedule another time (in about a month) to come back and talk with you about how you can support the organization in a more significant way. Would you be open to that type of conversation?”

Action Item of the Week — 2 hours or less

Scheduled in-person appointments with all 20 of your prospective donors.

Prepare for your calls by having responses on-hand in case the prospect is hesitant to meet. You’ll also identify who will attend the meetings (board and/or staff members).

Leave a comment below to share any objections you’ve heard from prospective donors for meeting face-to-face (either in the past or in response to this action item). I read each and every comment — I’m happy to help you come with a rebuttal for any objection.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

And if you haven’t been following along, it’s never too late to start!

Let’s take another quick look at the four stages of the fundraising cycle.

1. Identification

Congratulations! You’ve already identified your top prospective donors.

2. Cultivation

Building relationships with prospects and engaging them with your organization so they feel more inclined to support your cause.

3. Solicitation

The moment of truth: The Ask.

4. Stewardship

The follow up process – more than just a simple “thank you.”

Cultivating Major Gifts

The next step before asking for a major gift is to cultivate the people on your list.

In the previous weeks, you should have created a cultivation plan for your prospective donors and, if you haven’t already done so, started working your cultivation plan.

The goal of each cultivation activity is to move you one step closer to asking for a Major Gift.

With each cultivation activity you do, ask yourself, “How is this bringing me closer to asking for a gift?”

What did you learn about a donor and how will that help you secure a gift?

Did you find out what motivates them to be philanthropic?

Did you find out what they love most about your organization, and which area they would like to see grow or personally support?

Action Item of the Week — 2 hours or less

Take your cultivation plan and put it into practice.

Start by taking your top 10 prospects (from your prospect list) and complete one cultivation activity for each individual, from their cultivation plan.

Who will you call for a meeting? Who needs to be invited for a tour? Go ahead and schedule in-person meetings with at least 5 of your top prospects for the next two weeks.

I just finished presenting at the International Association of Fundraising Professionals (AFP) Conference in San Diego. In my speech, I mentioned Brian Tracey’s book, Eat that Frog.

The premise of the book is that if you do your most dreaded task first (eating a frog) then you can be much more productive.

You know you need to cultivate your prospects before you can ask them for a major gift, so don’t delay, cultivate today! Eat that frog!

Recap: Begin Putting Your Cultivation Plan into Practice

As always, I encourage you to post your comments and concerns. My role in the Challenge is to hold your hand and guide you through each step. So share your progress with me and I promise to offer my professional advice and words of encouragement.

Leave your comment below — I read each and every one and I’ll leave no question unanswered.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

What about in the last 3 years?

10 years?

If you’re like many nonprofit organizations, you fall into one of two common camps with regard to board retreats:

1. You don’t have them nearly as often as you should (haven’t had a retreat for 3+ years).
2. You have them annually and focus on strategic planning, but fundraising doesn’t make it onto the agenda.

(If this doesn’t apply to your organization, congratulations! You’re on your way to raising major gifts.)

Planning a Board Retreat

If you said “yes” to 1 or 2 above, then it’s time to plan a board retreat this year with major gifts in mind.

Spring and fall are perfect times for board retreats, so it’s important to begin planning now.

Action Item of the Week — 2 hours or less

Set a date, location and agenda for your next board retreat.

First, take some time to discuss with your executive director, board chair, and development committee chair, the need to plan a board retreat for the near future.

Then go ahead and pick a date and select a location, preferably not your regular board room. Ask board members if their company can lend you a board room for the day. It’s better to get away from your normal setting.

Lastly, begin to flesh out your board retreat agenda.

What Does an Amazing Board Retreat Agenda Look Like?

Most board retreats are half or full day retreats, and have a significantly different agenda than a regular board meeting. Discuss the goals and outcomes for your retreat (what you want your board members to walk away with) in advance of creating the agenda.

I recommend some version of the following agenda for your retreat:

1. Ice Breaker or team-building exercise
2. Mission Moment – An activity to tug at the heartstrings of your board members and remind them why they continue to serve (ideally a client discussing how their life has changed, or a testimonial in the form of a letter, a video, etc.)
3. Fundraising – Board retreats can be a once-a-year, unique opportunity for training, role play, and taking the fear out of fundraising
4. Strategic planning
5. Strategic discussion about a key issue your organization is facing

There should be little or no “regular” board business at this meeting.

Should You Hire an Outside Facilitator?

To use or not to use an outside facilitator: that is the question.

I must admit, I’m biased. A big part of my work is facilitating board retreats, and it’s also one of my favorite activities.

There are a lot of benefits to hiring an outside facilitator, but if your organization can’t afford it, you still have options.

Benefits of an outside facilitator:

• Brings an outside, fresh perspective
• Acts as a neutral facilitator
• Offers years of invaluable expertise in fundraising and strategic planning

If you can’t afford to hire an outside facilitator, I highly recommend swapping with another organization (you facilitate their board retreat and let their director facilitate yours). This is an inexpensive solution to cover two of the three bullets above.

Finally, always provide food and drink. Everyone will be in better spirits on a full stomach!

Recap: Set a Date, Location and Agenda for Your Next Board Retreat

You’ve got your next action item for the Major Gifts Challenge. Work with those at your organization to get your next board retreat on your calendar.

Board retreats provide an indispensable opportunity to improve your organization. An organization that’s constantly evolving and bettering itself is in a much better position to solicit (and receive) major gifts than one that isn’t. It’s also a great time to speak with board members about how they can get help with major gifts, including identification of new donors, cultivation, solicitation and stewardship!

Tell me about a past board retreat that you attended in the comments. What was most helpful? And if you haven’t ever attended one, instead tell me what’s the one thing you most wish to gain out of your first board retreat.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

The key lies in building relationships with your top 20 prospective donors.

Don’t have a top 20 list yet? Check out the previous posts in the Major Gifts Challenge to get yourself caught up.

The Art of Building Relationships

Fundraising is about relationships. The relationship-building stage of the fundraising process is known as cultivation.

I’m sure you’ve heard the expression, people give to people.

Well, it’s true.

Donors want to like and trust the individuals at the organizations they support. Cultivation is about building relationships before asking for money.

Cultivating Your Top 20

Its your job to build relationships with the top individuals on your list. It’s likely that you already know many of these people. They may be board members or other volunteers.

Regardless of whether you know them or not, you need to start thinking strategically about how to encourage them to consider supporting your organization in a bigger way… with a major gift.

Action Item of the Week — 2 hours or less

Create a cultivation plan for each of your top 20 prospective donors.

This may sound like a huge task, but it’s a lot less complicated than you think. All of your plans can be similar. Just tweak them slightly depending on your existing relationship with each person.

Each plan should only be one page. Put the prospective donor’s name and contact information at the top. Then list the months down the side: January through December. Make sure you have cultivation activities evenly spaced throughout the year.

Sample Cultivation Plan:

The 4 pillars below explain what each of your plans should include. For each individual, you’ll want to note the specifics, like where you’ll meet and how they can see your program in action.

Work on this for two hours this week and, if necessary, another two hours next week.

The 4 Pillars of Cultivating Major Gifts

Here are four simple steps to building major gifts relationships. You can do them in any order that makes sense.

1. Meeting face-to-face

This is a must. You cannot discuss a major gift in a group setting.

This meeting can come at the beginning of your cultivation or toward the end, but you cannot get around it.

More than one person can go on a face-to-face meeting — usually a board member and the executive director or development director.

The meeting can take place at the prospect’s home or office and can last anywhere from fifteen minutes to an hour.

2. Seeing your program in action

Invite all your prospects to take a tour, visit a program, or attend an event. This will help them feel closer to your organization and gain a better understanding of what you do.

3. Volunteering

Invite your prospective donors to volunteer for your cause. On a committee, in the office, in direct service, one-time or ongoing.

Volunteering brings people closer to your organization and makes them more inclined to give.

4. Providing updates

Updates about your programs and services can be delivered by phone, email, in-person, or via a hand written note.

Updates should be delivered twice annually to all prospects on your list.

One goal of cultivation is to get to know your prospects better. To do this, you will want to ask them several open-ended questions, like:

• How did they get involved with your organization originally?
• Why did they decide to start giving and why do they continue to give?
• Why do they feel your mission is important to support?
• What do they love about your organization and what would they like to see improved?
• If they could fix or improve one thing about your organization, community, or the world, what would it be?

These questions encourage them to think about your organization on a deeper level and about how they can get involved in making the world a better place.

Recap: Create Cultivation Plans for Your Prospective Donors

I’ve laid out your action item for the next two weeks, and I know you’ll do great!

Now it’s your turn to speak up… I want to understand your concerns about face-to-face meetings, cultivating the people on your list, or any of the other action items I mentioned above. What gives you butterflies in your stomach?

Tell me in the comments below. My professional feedback and encouragement are yours for the asking, no strings attached, so don’t be shy.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

If you want to be successful at Major Gifts fundraising, a crucial step is to identify who you will ask.

We’ve already gone over some of the other “getting started” steps, including committing to getting more major gifts (i.e., taking the Major Gifts Challenge), and determining the size of a major gift at your organization.

Hopefully you’ve also done some work to prepare your stewardship program in advance of receiving your first gift.

Now, it’s time to identify prospective major gifts donors for your organization. The goal is to get a list of your top 20 prospective donors with whom you will work this year.

How to Identify Your Major Gift Prospects

There are several ways to identify major gift prospects (prospective donors).

The first and best way is to check your database. A database is a list of your supporters, which includes contact information and records for each time they’ve donated. Hopefully you have a database with donor history going back at least two or three years. (And if you don’t have a donor database, never fear — keep reading.)

When checking your database to determine your best prospects, you’re looking for two things:

Your Largest Donors

Run a report to identify those who have given the most, cumulatively, over the last two years. It is important to use cumulative giving as criteria, because if you simply look for anyone who has given over $1,000 (as a one-time gift) you may miss donors who come to every event and donate smaller amounts throughout the year.

Your Most Loyal Donors

Run a report to identify anyone who has given at least seven times during the last ten years. This group is significantly different from your largest donors group, because there’s no minimum gift amount required to make it onto this list. In other words, this list can include individuals who give $10 per year, but do so consistently, year-after-year. The reason your loyal donors are important is that they are your best planned giving prospects, in addition to the fact that loyalty is uncommon these days in fundraising. It is more important to me to have a low-level committed donor, than one who gives once and never gives again.

These donors (the largest and your most loyal) are going to be your best individual giving prospects, because they already have an affinity for the organization and are showing it by donating money.

Action Item of the Week — 2 hours or less

Make a list of your top 20 prospects from your database.

This list should be comprised of your 15 largest donors and your top 5 most loyal donors. If you need help narrowing your lists, consider things like volunteer work (are they engaged with your organization) and connectedness (how are they connected to your organization).

Reminder: You are looking to increase your INDIVIDUAL giving. If your list is primarily comprised of corporations and foundations, you’ll want to start again.

Starting from Scratch

If you don’t have a donor database to work with, or all of your prospects are corporations and foundations, you still need to come up with a list of 20 individuals to work with this year.

Use the simple spider chart below with your board and staff members to come up with a list of people you know. The list should include board members, former board members, volunteers, friends and family, etc. Think outside the box to come up with a good, long list.

Two Characteristics of a Good Prospect

Once you have your list and are ready to narrow it down to your top twenty, there are two key characteristics of a good prospect:

1. Capacity

Capacity is the ability to make a gift. You’re not looking for people with the wealth of Bill Gates, but you do want people who have a job and some disposable income.

2. Inclination

Inclination refers to an interest in your organization, mission, or cause. A person with all the money in the world isn’t a good prospect if they have no interest in giving to you. However, inclination can be grown and nurtured, while capacity cannot.

If appropriate, have a meeting with staff and board members to help narrow your list to your 20 best prospects.

Recap: Determine Your Prospective Donors

So this week you’ll want to spend a couple hours working on your list of the top 20 prospects for your organization.

What sort of obstacles do you think you’ll encounter as you create your list? Share your concerns in the comments and I’ll uphold my end of the Major Gifts Challenge by providing the guidance you need to see this task through!

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

Stop thinking of your donors as ATM machines and really focus on them as people. Think about what they do for your organization. They don’t simply give money. They save lives. They feed the hungry and house the homeless. They educate children. They help cure diseases.

Donors are so much more than simply donors. Until you start treating them that way, they’ll have no real incentive to give you a penny more.

Stewardship 101

Stewardship is often talked about as the last step in fundraising. It’s the thank you after a gift is made. However, you should think about stewardship long before you ask for a gift.

How will you thank your donors so that they understand the impact they’ve made on your organization?

How can you thank your donors so they want to give again and again and again?

Sadly, I’ve come across too many organizations where donors aren’t thanked at all. Staff and board members feel it’s not necessary, and then wonder why they struggle with fundraising! Do you think you would give a second time to an organization that didn’t appreciate your first gift?

Action Item of the Week #1 — Create a Stewardship Plan

This week, determine who, when, and how you will follow up with your donors. Will all donors be treated equally or will you have a different plan for different donors? How will you follow up with and thank major donors?

A good rule of thumb is that a donor should be thanked in multiple ways by multiple people, as well as told how their donation was used (follow up), before being asked for another gift.

Who: Who will thank your donors? Your staff? Board members?

When: How soon after the gift is made will they receive their first thank you? Their second? When will they receive an update on how the gift was used and the impact it made?

How: In addition to a tax receipt (basics), will they get a handwritten card or note? Will they get a thank you call? Will they be listed in your next newsletter or annual report? What about on your website?

Follow Up: Let donors know how their contribution made a difference. How were their funds used? What impact did they have on the mission or cause?

The table below provides some ideas for how you can answer many of these questions.

A Sample Stewardship Plan

Your plan should be simple enough that you can follow it on a regular and ongoing basis, and at the same time substantial enough to truly steward your donors.

Be sure to include an in-person follow-up meeting for all major donors.

Ultimately, you will want to have at least three meetings per year with your major donors.

1. The initial, cultivation meeting.
2. The ask meeting.
3. The follow-up meeting.

The follow-up meeting comes last, after the donation has been made. I am mentioning it here so that you know to prepare for it and expect it.

Now, let’s move on to your task for next week.

Action Item of the Week #2 — Create Stewardship Materials

How old and stale are your stewardship materials (if you even have any)? Take a little time to write a new thank you letter. And if you plan on having board members make thank you calls, draft a few talking points for them.

Writing Thank You Letters

The base of your thank you letter can stay the same for most donors, but you will want to write a few personalized paragraphs that can be swapped in and out for different donors.

For example, you should use distinct language for:

• first-time donors
• repeat donors
• major donors
• board members
• other volunteers

Make certain that donors feel like they’re receiving personal letters, written just for them. Remember, you’re not simply thanking them for a wad of cash, but for helping fulfill your mission. What difference did their contribution make? Will more children be vaccinated, thanks to them?

Utilizing Board Members and the Executive Director

If your board members will be making thank you calls to donors, draft some talking points for them to use during their calls. What difference did their donation really make? These calls are a great opportunity to let the donor know.

Should they leave messages? (Yes!)

Should they leave a return number? What number? Theirs or the number of the organization? Think it through.

If you expect the executive director to write personal notes, write a sample draft note. Provide the stationery and details about the donor.

Recap: Create Your Stewardship Plan and Materials

Once you’re ready to steward, you’re one step closer to asking for Major Gifts! So focus on this week’s action items and get a simple plan together, followed by revitalizing (or creating) your thank you letters and other materials next week.

This should only take you two hours per week, as promised! Spend two hours this week on the stewardship plan, and two hours next week on thank you letters and other materials.

If you’ve committed to taking the Major Gifts Challenge, it’s time to share! Every time you comment, you further solidify your commitment to the challenge. With that in mind, provide a comment below about who, when, and how you will follow up with your donors.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

If you missed the first post, click the link below:
Be Rich and Famous: Take the Major Gifts Challenge

Are you ready to start raising major gifts?

Good!

What is a Major Gift?

The first step is to define what a “Major Gift” is for you. The term major gift means something different at every organization.

For example, when I started my career in fundraising at the battered women’s shelter, we rarely received gifts (excluding grants) over $1,000. When we received our first $10,000 there was cause for major celebration around the office — that was a MAJOR Gift. We considered any gift from an individual over $5,000 a major gift.

On the other hand, when I worked at Rutgers University many moons ago, we considered a major gift any gift over $25,000. And, during the same period of time, just down the road from Rutgers was Princeton University where Major Gifts were $100,000 or more. And I imagine by now it’s $1 million or more.

If you’re at a small organization, just getting started with individual giving and major gifts, it would be ridiculous to hold you to the standards of Princeton University.

So, what’s considered a major gift at your organization?

Remember major gifts don’t have to be over six figures to be considered major, and they aren’t only for capital campaigns. There’s no better way to skyrocket your annual fund than to infuse it with some major gift power.

Action Item of the Week — 2 hours or less

Determine what constitutes a major gift at your organization.

Step 1: Check your database (donor records) to identify your top five individual donors (not foundation funders). What is the range of your top five donors’ gifts? Is one of the gifts significantly more than the other four? For example, four are $1,000 each and one is $10,000 or more?

NOTE: You’re working to expand individual giving, so don’t include foundations on this list. If you have donors who give from their family foundations, but you don’t need to submit grant applications, it’s fine to include them on the list (they’re really individuals who are giving through a foundation).

Step 2: Pick an amount that you think would be a good major gift level as a result of step 1 — let’s say $10,000. Then, run a report to determine how many people have given at that level or above (cumulatively) in the last twelve months. Depending on the number of donors you have, if there are a lot of people who have given over that amount, it’s too low. If you don’t have any donors at that amount, then it could be too high.

A Donor Database is a Must

No database?

It’s time to start one.

A database is a computerized method of keeping donor records, and if you’re going to be serious about fundraising, you need one. That’s not to say you need expensive fundraising software. Microsoft Access is just fine. (By the way, Microsoft Excel is NOT a database, for those of you using it as such.) I discuss donor databases in both of my books if you need additional info.

Choosing Your Major Gift Amount

Remember, fundraising is an art and a science. In this case, there are no hard rules to determining what you consider a major gift at your organization.

If you’re still not sure, here’s a good rule of thumb: An appropriate level for a major gift is an amount where approximately five percent of your donors can (and will) give at that level. It should be high enough that when you receive one, it’s cause for celebration at your office. But, it shouldn’t be so high that you never receive one.

After you’ve identified an appropriate level for major gifts, have a discussion with your executive director, development staff, and key board members to ensure that everyone is on the same page.

Be realistic and yet optimistic when picking an amount. If you’ve never received a gift of over $1,000, then $25,000 is too big of a stretch. In that case, you should probably start with $5,000 or less.

You’ll see later this spring that the gift amount and how much you can raise depends largely on who you have in your donor pool. We’ll get into that later.

Recap: Set Your Major Gift

So for this week, determine the amount you will consider a major gift at your organization. The number doesn’t need to be set in stone – you can always raise it once you start to see some success.

After determining an amount, please share your amount in the comments. Tell us how much you consider a major gift at your organization and how you came to that decision. Posting your number in public will solidify it for you, as well as help us celebrate when you get your first gift of that size this year!

If you have other ways of determining how much a major gift should be, please share them in the comments. This is a dialogue among nonprofit professionals, so your own expertise is welcome.

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

Be rich: In less than a year, you can increase your organization’s annual fund by 10%, 20%, 100% or more.

Be famous: In 12 month’s time, you can be revered by your boss, board members and colleagues.

If becoming a rich and famous all-star at your organization sounds intriguing, then you’re in luck.

I’m issuing a challenge and I hope you’ll take it.

I’m dedicating this entire year of blog posts to help you successfully raise more major gifts. Whether you have never asked for a major gift before or consider yourself an expert, I know you can raise more.

Are you with me?

Your Commitment

Participating in the Major Gifts Challenge is easy. Here’s what you’ll do:

• Read each of my blog posts (approximately two per month).
• Dedicate two hours per week to taking action on the information in each post. This step is critical — if you don’t take action, you won’t get results. Remember, it’s only two hours per week — you can do that!
• Let me know how it’s going in the comments so I know what’s working for you and when you need more help.

That’s it.

And, I promise, you’ll raise more money this year and successfully solicit major gifts. But to get there, you need to follow my advice and take action.

Deal?

My Pledge to You

If you take on the Major Gifts Challenge, I’m certain that you’ll be rich with donations and famous at your organization for your fundraising efforts. Not bad for only two hours per week.

If you’ve always wished you could solicit major gifts, but never had the confidence or know-how, this is your chance! I’m offering personalized coaching as a free fundraising consultant (via my replies to your comments) so don’t miss this opportunity.

I’m going to hold your hand along the way and take you step by step through the process of major gifts. Come with me on this year-long journey. I know you’ll be glad you did.

Commit Now in the Comments

It’s time to commit. Let me know in the comments if you’re willing to publicly take on the Major Gifts Challenge. Fame and riches await…

This post is part of Amy’s Major Gifts Challenge. Read the entire series to learn how to solicit major gifts by spending just a few hours each month.

Will you meet, or even exceed, last year’s fundraising goals?

How much more could you raise with a few changes to your plan? Follow these 10 steps and I guarantee you’ll leave last year in the dust.

1. Start by setting some goals.

As the saying goes, if you don’t know where you’re going, how will you know when you’ve arrived?

Your goal should NOT simply be 5% more than you raised last year, OR the gap in your budget, which is the way so many organizations decide on their target.

Instead, your goal should be the amount you estimate you can raise based on the prospective donors you’ve identified and the fundraising activities and campaigns you have planned. Once you’ve figured out what that number is, if there’s still a gap between what you expect to raise and what you need in terms of your budget, then you’ll want to look into an alternate strategy to raise even more.

2. Next, focus on individuals.

If you’ve been in fundraising for a while, you may already have heard Giving USA’s all-important statistic: 80% of donations come from individuals (70% during their lifetime and 10% via bequest). If corporations and foundations are your fundraising focus, then you have a huge opportunity to raise a considerable amount from individuals. Make next year the year of face-to-face giving for your organization and you should significantly increase your fundraising revenue.

Remember, fundraising from individuals doesn’t happen overnight. It takes patience, persistence, and a plan. Start by identifying your top 20 individual prospective donors (include your best donors and board members on your list whenever appropriate). Develop a one page cultivation plan (relationship building) for each person on your list. Then, set a date to ask!

3. Ask for planned gifts.

Planned gifts are the best way for organizations to start or grow an endowment fund. Asking your closest donors and board members to consider a bequest is the easiest way to start a planned giving program. Creating an endowment fund helps alleviate the burden of fundraising on future fundraisers. Furthermore, it will help ensure the stability of your organization in the future. The time to start is now.

4. Start a monthly giving program.

If you have the technology (to automatically charge or withdraw monthly donations) you should start or work to increase your monthly donor program. While it may be slightly more expensive to administer, most donors will give more through monthly giving. For example, a $100 annual donor might consider contributing $20 per month, which brings them up to $240 for the year.

You want to focus on increasing the number of individuals who participate, as well as increasing any current participant’s giving levels. Be sure to include an option for monthly giving on your website and make it easy for donors to choose this option. Advertise it in your newsletter. Lastly, include monthly giving as an option as part of your annual appeal materials.

5. Bolster your social media presence.

According to a 2012 Chronicle of Philanthropy study, online giving is on the rise. Organizations that are focused on using the power of Twitter, Facebook and other online channels are seeing big gains of ten percent or more. How much did your online giving increase this year?

6. Utilize volunteers.

Would you ever open a can without a can opener?

That’s my favorite analogy for fundraising without volunteers. Volunteers that fundraise for your cause have the power to broaden networks and leverage resources in a way that most staff members could never dream of. Think of your volunteers as a fundraising army, and use them as such. Provide them with specific tasks, training and tools so they (and you) can succeed.

7. Plan a board retreat.

Board members set the tone for fundraising at any organization. If you want to raise significantly more money next year, you will want to make sure you’re engaging your board members in the most meaningful way possible. Board retreats provide wonderful opportunities for networking and socialization, strategic planning, and fundraising training.

For better or for worse, board members listen more carefully to an outside facilitator. Consider hiring an experienced consultant (such as myself) to facilitate your next board retreat. Benefits of using an outside facilitator include a fresh perspective on your organization’s issues, an impartial mediator of disputes, and a professional who can bring best practices to your retreat.

If you cannot afford an outside facilitator, consider swapping executive directors or development directors with another organization. It will expose you both to new ideas and methods.

8. Try something new.

Plan one new fundraising activity for next year. It could even be from this list. For example: fundraising from individuals in a face-to-face way, soliciting planned gifts, starting a monthly giving program, or even fundraising online.

I’m not recommending that you add one more “event” to your already event-laden schedule. Step out of your comfort zone and try something you haven’t tried before to help you raise more money this year. You may discover gold in the process.

9. Attend a few conferences and workshops.

In order to fully understand the best practices and latest techniques in fundraising, it is essential to invest in continuing education.

Try to attend workshops or conferences at least twice per year. Investigate your local nonprofit center or Chapter of the Association of Fundraising Professionals for a wide variety of topics and sessions.

10. Be sure to measure your results.

Let’s say you surpassed your goal last year and you’re feeling pretty good about that. You report this exciting news to the board, and they’re feeling confident about fundraising income. However, you neglected to pay attention to the reason you surpassed your goal, which was due to two large one-time gifts.

If you had looked at the numbers more closely, you would’ve realized that even though you surpassed your goal, the actual number of donors was down. In fact, if it hadn’t been for the two unexpected gifts, giving would have been way down.

Be certain to measure results in several ways to get a complete picture, including number of repeat donors, lapsed donors, new donors, average gift size, and median gift. Total giving is not the only or ultimate way to measure fundraising success.

The steps above are not simple, but they will work wonders for your nonprofit. If you need a hand, don’t be afraid to ask. Contact me — I’m ready to help.