As I sat down to write my latest article on major donors, I found myself searching for the perfect quote to set the tone for my piece. For me, quotes have a way of capturing the essence of a topic in just a few words, and I wanted something that would inspire and resonate with my readers. After much contemplation, I came across a famous quote by Maya Angelou that encapsulates the importance of major donors perfectly.
“Seek ye first the good things of the mind, and the rest will either be supplied, or its loss will not be felt.”
This quote reminds us that when we prioritise the things that truly matter, everything else falls into place. In the context of major donors, it serves as a reminder that building meaningful relationships with philanthropic individuals who are passionate about your cause is key. When we focus on cultivating those relationships and aligning our values with theirs, the impact of their support is immeasurable. As a major donor specialist, I know that major donor fundraising is a game-changer for organisations looking to make a significant impact on their mission.
Now, what is a major donor actually looks like is different for every charity and depends largely on the size and scope of the organisations aims and objectives. Generally speaking though we can define major donors as those that have the capacity to give substantial gifts that can help fund major projects, support important programs, or even establish an endowment.
This kind of support can truly make a difference in furthering the work of a non-profit organisation. In 2024, major donor fundraising is more important than ever as organisations continue to face the challenges as we recover from the pandemic alongside ongoing major economic and political instability on a global scale.
Many non-profit organisations are struggling to secure the funding they need to continue their important work. Major donor fundraising can help bridge this gap and ensure that organisations have the resources they need to continue making a difference in their communities. So, how can you successfully engage with major donors in 2024? Here are a few tips to help you get started:
1. Research and identify potential major donors
Take the time to research and identify individuals who have the capacity to make major gifts to your organisation. Look first to those within your own community. I strongly recommend a contact mapping exercise amongst Trustees and Senior Staff. Not only does contact mapping allow you to identify prospective major donors, it will also identify crossovers and potentially Trusts and Foundation board members as well as potential corporate connections. Look for individuals who are passionate about your cause and have the means to make a significant impact. Contact mapping should ideally be conducted by a professional researcher as this process requires a highly focussed approach.
2. Cultivate relationships
Building relationships with major donors is key to securing their support. Take the time to get to know your donors, understand their interests and motivations, and show them the impact their gift can have on your organisation. Most new donor relationship take 12-18 months. Rushing this will lead to what I generally refer to as a “bugger off gift”. This will be the lowest possible gift and at the lowest level and will most likely be the only gift from that donor. Too many organisations put pressure on fundraisers to rush major donor relations and this is damaging to the charity, the fundraisers and in the integrity of building sustainable longterm relationships with major philanthropists.
3. Create a compelling case for support
Clearly articulate the impact that a major gift can have on your organisation. Demonstrate how the donor's support will help further your mission and make a difference in the lives of those you serve.
4. Stewardship
Once you have secured a major gift, make sure to steward your donors properly. Keep them informed about the impact of their gift, involve them in your organisation's work, and show them how their support is making a difference. Stewardship is too frequently neglected and when done lacks a personal touch that is crucial to major gift fundraising. It need not be over the top and many philanthropists don’t require fuss, but dropping in for a coffee, or checking in with updates is crucial to ensure the donor feels appreciated and close and not a cash cow.
Major donor fundraising is a powerful tool for non-profits looking to make a significant impact on their mission. In 2024, as organisations continue to face challenges, budget cuts, political turmoil, major donor fundraising is more important than ever, but it is a delicate process, not to be rushed if you want to secure long term and sustainable partnerships with the top 1% who have the resources to help you achieve your ambitions.
Edward Romain
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