Fundraising: Dispelling major donor myths
This article is based on a ‘big picture’ session delivered at the Institute of Fundraising Convention 2008, by Angela Cluff of =mc.
The aims of the session were to:
- challenge conventional thinking
- explore why so few organisations achieve their potential from major donors
- provide tips on how to succeed
5 myths and 6 truths and buts…
Statement | Truth or Myth | Key Point | Key Action |
It takes along time to get a major gift | Truth and myth | You can get a gift in a very short space of time; you may get the gift in a long time | Don't overly focus on the "perfect" process and ask |
Successful capital campaigns are about securing the right lead gift early and working top down | Myth | The lead gift may not be a defined % of the appeal total, may not come early and may come from a surprising source | Focus on leadership or stretch gifts from those closest to create the cascade down and leverage up |
All fundraising organisations can develop major donor fundraising | Truth | If the need is powerful and the Board and senior team passionate, they'll findthe connections | Focus on your organisation's connections and use them relentlessly |
Capital campaigns have a sequential private and public phase | Myth | Generic campaigns need the public phase to create engagement and demonstrate public interest for major donors | Adapt your strategy to your course |
Major donor fundraising is only as good as your prospect reseach | Truth | Prospect research is vital when focused on the right things: capacity, propensity, connection | Don't let research get in the way of building real relationships |
Asking is the job of the volunteer | Myth | The "best" asking is usually done by a volunteer - but it's not the only route | Sometimes theright thing to do is for the staff to ask |
Your supporter base is the right place to look for prospects | Truth | But it's not just your donor base - it's your broader supporter base of local volunteers and beneficiaries | Start with who you know and work rigourously and reletlessly out |
A major donor led campaign is a way to transform income | Truth | Major donor campaigns build donors, networks and fundraising skills | Make your campaign a success! failures are hard to recover from |
The rich are different from you and me... yes they have more money | Truth and myth | The quote is true, but major donors aren't different - they want impact and demand more than lower level donors | Understand and respond to the needs of your major donors - however complex - they are |
In =mc’s experience there are 6 reasons why organisations find it so hard to make real progress in major donor fundraising:
they want money for existing work, major donors want to fund more work. They want to know your vision and your business plan to achieve it, and they want a genuine say in them
they don’t really want the involvement donors want. Fundraisers know that an important and effective part of the solicitation process is involving donors – and that means asking their advice and views. But the reality is that too often organisations aren’t prepared tohear let alone take on board the advice they seek
they don’t want to ask their best prospects – those closest to the organisation – to make stretch gifts. And until they do, those key individuals don’t become true advocates, willing and able, to ask for gifts
there are few really experienced major donor fundraisers and even fewer organisations. And those who are really succeeding have a critical mass and sustainability – of technical skills and internal support – from having both individual talent and organisational experience
major donor fundraisers move on too quickly – too often major donor fundraisers spend 12-18 months creating an effective case and researching the prospects… and then making their next career move. It’s not good for organisations, donors and fundraisers themselves – because they don’t build their own bank of experience in successfully securing major gifts
too often Boards and senior teams think major donors is a quick fix and then lose faith. In reality it’s a 3-5 year income stream. And it is hard to make the right first steps.
There is only one answer! The theory is easy, the practice is extraordinarily hard. So stop reading the theory, go build your experience and that will show you how to apply the theory. Good luck – and call =mc if you need help.
