The Game-Changer in Your Fundraising Strategy
As we continue our journey toward creating a culture of philanthropy within your nonprofit board, today, we focus on Step Three: Preparing for Major Gifts. This step is often a game-changer in securing transformative funding that can elevate your organization to the next level.
Major gifts—large, impactful donations from individuals or organizations—play a crucial role in long-term financial sustainability. But to secure these gifts, your board must be prepared with a compelling case for support and a strategic plan to engage potential donors.
Here’s how to get started:
1. Create a Strong Case for Support
Your board needs to be equipped with a clear, persuasive message that answers one key question: Why should a donor invest in your nonprofit? This case for support should communicate:
- Your organization’s mission and vision
- The impact you’ve made so far
- The transformative potential of a major gift
- How the donor’s contribution aligns with their own values and philanthropic goals
A well-crafted case for support not only motivates donors but also empowers your board to confidently engage in major gift conversations.
2. Conduct a Market Study
Next, you need data to understand the landscape. A market study helps you analyze giving trends, identify donor behaviors, and understand what motivates major donors in your sector. This research helps your board make informed decisions about targeting the right individuals or organizations for major gifts.
A market study also enables you to focus your fundraising efforts on the areas where you can have the most significant impact, helping you align your message with the priorities of potential major donors.
3. Wealth Screening
Wealth screening is another powerful tool that can help identify potential major donors within your existing network. By analyzing publicly available data, you can:
- Identify individuals with the financial capacity to make major gifts
- Prioritize outreach to those with a proven track record of charitable giving
- Tailor your approach based on donor interests and giving history
This step ensures that your board isn’t approaching fundraising blindly but rather targeting the right people who are most likely to make a significant contribution.
In Step Three, the key is preparation. By arming your board with a compelling case for support and the data needed to identify the right donors, you set them up for success in securing major gifts. When approached strategically, these gifts can propel your nonprofit’s mission forward in a truly transformative way.
Stay tuned for the next steps as we continue to build a culture of philanthropy within your organization!
Sharon Jones is the Lead Consultant of Solutions Matter LLC
