Capital Venture: Secrets for Success

Major gifts are the lifeblood of nonprofit organizations. They help organizations raise funds for capital and major project needs, allow them to expand or start new programs, and allow the donor to make a real impact on their community. Here are a few tips on starting a major gift program in your organization.

Remember that major gifts are almost always obtained through personal solicitations.
Most of your major donors will be those who are already in your donor base: former major donors, loyal donors, and sometimes people who have never been major donors simply because they have not been asked!
Research is the key to the major donor process; remember the LAI principle—finding the right Linkage, Ability and Interest.
There is a lot of public information available that can help you determine the ability of the prospect to make a major gift. If you do not have the time or skills internally to conduct the research, there are firms and individuals with whom you can contract to conduct research for you.
Screening meetings can be a simple, but effective way to research prospective donors. Gather a small group of key community leaders together and review your list of top prospects, trying to identify the Linkage, Ability and Interest.
Finding the potential donors' interest is critical. Listening is the most important skill in soliciting a major gift. Matching the donor's interest to the organization's needs will result in a successful major gift "ask."
Part of the key to a major gift is finding the right person to make "the ask;" it could be a staff member, a board member or a volunteer. Look for the person with the best relationship with the prospective donor.
Often the best "person" to make "the ask" is a team of solicitors-perhaps the Chief Executive Officer and a key volunteer.
No matter who is making "the ask," it is important to provide them with training in successful solicitation techniques. Even volunteers who have been involved in other fundraising programs will need information about the prospects they will be contacting and the programs for which they are raising money.
You don't have to have a huge donor list to start a major gift program. Select the top 10% of your donors, do the research, find the right project for each donor and "just do it!"

If you need help establishing a major gifts program, contact the experts at CAPITAL VENTURE SM to help with screening donors, training staff and volunteers, and developing the case for support to present to prospective donors.