Fractional Staffing Can Kickstart a Major Gifts Program
Fractional Expertise is a Cost-Effective Way to Build Out Your Fundraising Program
For nonprofits striving for sustainable growth, a major giving program can be a game changer. Giving USA’s report on 2023 philanthropy reaffirms what those of us in the nonprofit sector have long known: with more than 67% of contributions coming from individual donors (and that does not include bequests ), giving from individuals far outweighs other sources of support. Foundation giving, at just under 18.6% of the $557.16 million total, and corporate giving at 6.6%, pale by comparison.
But for individual giving to be impactful, an organization needs to go deeper than the typical email, crowdfunding and direct mail strategies. Sure, it is possible to raise $1 million, $50 at a time, but only if your database has – at minimum – a strong cohort of 20,000 donors who are certain to respond to your appeals. In reality, the prospect-to-donor ratio can range from 2:1 to 5:1 or higher, meaning that your fundraising message would need to be reaching 40,000 to 100,000 – or more – solid prospects.
I will be the first to admit that starting a major giving program from the ground up can be daunting, but with the right support at the beginning, every organization can build a foundation for growing donor relationships. A fractional major giving director, engaged in planning and early execution, can help you shape your program by:
Defining what a major gift is, for your organization. An experienced analysis of past giving to your organization and an objective assessment of donor pool potential will allow you to determine what gift amount should be considered a major gift. For one organization, that may be $1,000; at another, $10,000 or even $25,000 might be the right place to start.
Determining who, among your current donors and potential donor list, is likely to respond to major donor cultivation strategies. A potential major gift donor must have not only the capacity, but also the inclination to make a major gift. They are sufficiently committed to your mission and impact, and have the sufficient resources, to make a gift of this size to your organization.
Developing a unique cultivation strategy for each prospect on your major donor prospect list. This is not a “one size fits all” proposition – every major donor will have a unique situation, and unique motivations, that must be considered in the cultivation strategy. Commonly known as “moves management,” this strategy is transposed into a plan that can be executed for each prospective major gift donor.
Establishing a stewardship program for your major donors. Your most generous supporters will appreciate knowing that their gifts are having a significant, positive impact in the community. Your stewardship program must show them the value of their generosity and how their major gift will impact outcomes.
Helping you choose a system for tracking cultivation and giving, and establishing a reliable system of reminders so that contact goals are met. CRMs come in all shapes and sizes. Finding the right one to support your growing major gifts program is essential. It will also be critical to have experienced support to operate that system to its fullest.
Helping your staff and, importantly, your board, understand the process and timeline for implementing a major giving program and for seeing results. Prevailing wisdom suggests that it can take 18 months to raise a major gift, but in reality the process can take up to three years, especially for a new program. Setting expectations with the leadership will eliminate frustration and keep them motivated.
Working with your staff and – again – importantly, your board, to develop the organization’s ability to “make the ask.” Role playing exercises and moral support go a long way in building people’s confidence. Of course, once they experience success, most staff and volunteers are eager to get out there and do more asking!
A major giving expert, engaged on a fractional basis, can get your program rolling and on track to success. As the program matures, your organization may be able to invest in a full-time (or even part-time) staff member to serve as major gift officer, but whether you hire a permanent staffer for this role or maintain the effort via a fractional team member, aim for consistency over time. Major giving is, at its heart, a relationship-based strategy. Donors will want to know that there is a member of the team that they can count on as their connection to the organization.
The More Than Giving Co. can help you build a fractional staff to kickstart your major gifts program.
Schedule a call today to learn how we can help.