The Major Gift Visit – Firing for Effect
Major gifts are the key to successful fund-raising. Major gifts take many forms, often depending on the needs, the goal and the method of solicitation. For the purposes of this discussion, major gifts are the top gifts in a capital campaign that comprise at least 60% of the funds raised. Typically, major gifts in a capital campaign are $25,000+ and are pledges rather than one-time contributions.
Asking for major gifts is the most important activity in a campaign because it:
- Gets the campaign started and brings instant credibility
- Builds momentum and excitement through unprecedented results
- Sets the standard of giving and lifts the sights of other prospects
- Determines the eventual outcome of the campaign
The solicitation of major gifts requires a highly personal and structured approach, given the extraordinary nature of the activity. These gifts are just too important to be treated casually or without consideration of the long-term effects (especially if not done right!).
The adage, “Proper Preparation Prevents Poor Performance” is a good guide when seeking major gifts. A lot of time and effort must go into identifying, researching, evaluating and cultivating major gift prospects. This preparation will provide for an effective solicitation that yields the desired and needed result. The solicitation itself requires an agenda but succeeds because you are dealing with the prospect on a very human and personal level. Remember, a campaign is about more than money; it is also about the mission of the organization, the effect it will have on the community, and the benefits received. Often, major gift prospects are asked for gifts larger than they may have ever considered (or thought possible). Therefore, preparation and proven fund-raising methodology are important.
Developing a positive mental attitude in key volunteers and solicitors is an important first consideration in the major gifts solicitation process. They should:
- Believe in themselves and understand that this is work they can do, and can do well
- Understand and accept that this work is on behalf of the organization and to help accomplish its mission
- Know and understand the needs, the case and the objectives of the campaign and why they are important
- Adopt a sense of urgency and priority for the work at hand
- Utilize proven fund-raising principles
- Be a major gift contributor before they are a major gift solicitor
Sometimes the hardest part is getting started. It is important that your first few solicitations be fruitful. It is also important that these “first fruits” be seen as large, pace-setting gifts. The first gift will greatly aid your ability to get the second gift, and so on. A major gift in the early stage of a campaign is worth many times its absolute value, while a major gift at the end of a campaign is worth only its absolute value. Early success will help you build your confidence and enthusiasm too, not just for the money pledged, but for the commitments expressed by donors to your work and to the mission of the organization.
To begin, it is important to pick a couple of prospects that will say “yes.” First, remember to:
- Determine the order of prospects for solicitation
- Learn proven methods and techniques for getting the appointment, making the presentation, requesting the gift and any follow-up needed
- Research the prospects selected and devise a strategy for solicitation
- Prepare supporting materials (letter, a prospectus, plans, detailed supporting pieces, etc.)
- Determine an effective follow-up and closure procedure
Steps in Requesting a Major Gift
The first step in the solicitation process is to call the prospect and ask for a formal appointment. Arrange a meeting in the potential donor’s home or in a private setting. Resist the temptation to set a casual meeting or say “I’ll see you around the club.” Let them know that this is something especially important to you personally and ask for a specific date and time. Remember to include spouses if possible.
Often when you are asking for an appointment, the prospect will respond that they are busy and that you don’t need to sit down with them, just tell them what you need now over the phone. It is important that you work hard to persuade the prospect to set a formal appointment and that they not make a decision over the phone. An effective response might be: “I know you are busy, and I wish I had more time to talk, but frankly this is too important and there are a lot of exciting things that I want to share with you and (spouse’s name). Can we meet Tuesday at 5:00 or is Thursday better for you?” Most of all, be determined to get the appointment. If they know it’s important to you, they will see you.
Next, prepare for the visit. Read the case, the prospectus or whatever information you have available that will help you to feel confident and to know the facts. Arrange for a co-solicitor as visiting in pairs is more effective and less stressful. It also displays to the prospect just how important the project is and how important their support is (not just one person, but two people made time to see them and ask for their support). Practice the visit before you go – role-play with you partner so that each person knows and is comfortable with their respective roles in the visit. Finally, relax! and be yourself.
You are not asking for money for yourself but for an organization that you believe in and support. Begin the meeting by putting the prospective donor(s) at their ease – discuss friends or family that you may have in common, or something that gives you a pleasant frame of reference. Take the first few minutes to break the ice, and be you. Remember, a good listener makes a good solicitor. When everyone is comfortable, get down to business, “Mary, the reason we asked to see you…”
Present the case for support. Tell the prospect briefly about the organization, your relationship to it, it’s success, the challenges it is facing, the response to those challenges and how that response was arrived at, some details about the project and anything else you consider important about the case or organization. Consider how much the prospect knows about the organization. If their knowledge is limited, then talk about the things that impress you most and why you are involved. Make it personal.
After talking about the case, make a specific gift request. The prospect needs to know what you are asking them to consider – they can’t read your mind. In most cases, they want to help but have no idea what you want, need or what may be appropriate. Also, they know their finances and what they can or cannot afford to do. You need to ask for the agreed upon amount. If your co-solicitor does not articulate the amount, you must do so. This is crucial. Suggest the amount in a tactful way but be clear so that they are able to make an informed decision. You might say: “Mary, we have no idea what you may be able to consider, nor would we want to, however, I was hoping that you would join Tom and me with a gift of $5,000 a year for 5 years – a total pledge of $25,000. Can we count on you for that?”
Next, listen! Let the prospect answer and talk about what they can or cannot do. Do not worry about anticipating every possible response. Most responses can be reduced to one of four possible answers: “Yes”; “No”; “I need some time to think about this”; or, “I don’t know if I can pledge $25,000, but I will give you $x.”
Once the prospect has given you an answer, respond to it in such a way as to encourage a decision. Such as:
YES
Well, that’s easy enough. Thank them for their kindness and generosity. Do some housekeeping: let them know that they will receive a confirmation letter, fill out the pledge card (if you are using one), but most of all, thank them!
NO
Thank them for their time. Ask if there is a particular reason why they would prefer not to support you at this time. Finally, ask them to call you if you can answer any questions or provide them with further information. Do not take it personally, not everyone will give. Try to leave the door open for future cultivation.
I NEED SOME TIME
Thank them and let them know that you understand. Reiterate how important their support is. The most important thing is to arrange a specific time to follow-up with them regarding their decision. This will keep the process moving and prevent long delays in gift decisions.
I DON’T KNOW IF I CAN GIVE $25,000 BUT I WILL GIVE $X
This can be one of the most challenging responses and must be handled delicately. If you feel that they have offered the best gift possible, thank them and make them feel good about their decision. If, however, you think the prospect may simply be making a quick decision and there’s a possibility that you can get a larger gift, you should graciously ask him to take some time and think it over. Thank them for wanting to support the campaign and for their generosity. Explain that you didn’t come to accept their gift, but to present the program and make the request. Arrange a second meeting with five-to-seven days to talk about the gift again. You might say: “We all appreciate your generosity and I knew we could count on you. Because this is such a big decision, we didn’t come to get an answer this morning. Instead, we want you to take some time and think it over. Could we meet again next week at the same time to talk about it some more?”
Following these easy steps will often relieve much of the anxiety of asking for money. Keep you dignity. Remember that you are asking for something that you support and that you consider important. If you have that frame of mind, you will be passionate and effective. People want to help others they admire and respect. They just need to be effectively asked for that support.
In summary, major gifts are the key to the success of any capital campaign. To be successful in getting major gifts, you must orient volunteers / supporters to the needs of the campaign, train them in how to ask for a major gift and record their progress. People give to people, and properly preparing your people will enhance your organization’s ability to be successful with major gifts fundraising.