Almost every nonprofit has delved into the major gifts arena, believing that a unicorn is out there who will transform their nonprofit. But opening up the major gift fundraising spigot is more about consistency than it is about getting a single lucky break. Here, we’ll share proven insights and tips on how you can keep a steady flow of significant donors supporting your nonprofit and advancing your mission.
Major gifts are usually defined as a single gift of $1,000 or greater.
Major gifts come in various forms, not just cash. They can be stocks, real estate, or even cryptocurrency. Understanding this diversity is critical to successful major gifts fundraising.
On average, major donors make up about 20% of an organization’s donor base—but contribute close to 80% of an organization’s total dollars raised. Regardless of whether your organization’s numbers match this figure exactly, one thing is clear: major gifts are critical for your organization to thrive. It’s these gifts that will support the bulk of your budget.
Contrary to popular belief, most of your major donors are not going to be the high-profile socialites or the famous foundation that everyone pursues. Major donors often arise from the ranks of those already supporting you—people who are aligned with your cause and passionate about your mission.
There are three main sources of major gifts:
You can also cultivate current and lapsed donors, using direct mail, digital fundraising, or by inviting them to join a donor club.
When looking for a new major donor prospect, there are three crucial questions you should consider:
In the best major donor prospects, these three keys—alignment, capacity, and accessibility—all need to be present.
You’ve done your research and identified some major donor prospects. Now it’s time to set up a meeting and ask for that big gift.
“Making the ask” is one of the most critical and stressful parts of being a fundraiser. But with some planning, organization, and persistence, your meetings with major donors can become easier more effective.
Regardless of whether you receive a gift or not, you should make plans to follow up with the prospect after your meeting. If there were any action items from the meeting, then make sure you take care of those as soon as possible. If appropriate, you may want to tentatively schedule the next visit with the donor.
If you did receive a gift, be a good steward! Every major donor should receive:
A gift receipt to commemorate the donation for tax purposes (this can be folded into the thank-you note)
A new donor welcome packet (if they’re a first-time donor), which could include an overview of the organization, a list of volunteer opportunities, and a calendar of upcoming events/programs.
Your goal as a major gifts officer is not to ask for large gifts each day; it is much more important than that. You want to cultivate personal relationships with your major donors and build a strong network of people passionate about your mission.
The secret to major gifts success? Keep moving forward. Accept that you will never be perfect and know that major donors are human, too; they have bad days. Do not take the no's too personally. If you only get yeses, you are not reaching out to enough donors.
If you consistently approach major gifts, you will succeed, achieve positive results, and help your organization. It won’t happen overnight. An intentional major gifts program that is well executed will take at least six months to get traction, so keep working. Personal relationships, networks, and an authentic approach to major gift fundraising are how every successful nonprofit moves the needle, and you will, too.