Major donor fundraising strategies should be part of your plan.

The best place to start when it comes to fundraising from major donors is to begin with your database. Nonprofit major donors, such as endowments, foundations, and corporations, are often more complicated than individual donors. In short, they’re more challenging to reach and often require more time, education, and resources. However, like all donors, they can make a significant financial impact, and you should include them in your fundraising strategies.

Still, you have a great deal to offer individual major donors as a nonprofit. They can help you grow your organization and expand your mission and reach. And they ensure your nonprofit’s programs and activities reflect your mission, values, and goals. In fact, you can develop relationships with major donors that can grow over time. As a result, they become more significant as your organization grows.

Why Raise Funds from Nonprofit Major Donors?

Raising funds from nonprofit major donors is a vital part of your fundraising strategies. For instance, these donors provide valuable assets that support your mission and goals. But being successful at fundraising from major donors doesn’t happen overnight. You need to build a strong relationship and trust over time before these larger gifts happen.

Nonprofit major donors want to know their contributions make a difference or support something they believe. As with most donors these days, it’s vital to provide evidence of impact. You do this with your programs, activities, and stories. That said, any nonprofit can cultivate relationships with major donors with the means and desire to fund the vision. And yes, it includes the small organizations.

2 Steps for Donor Targeting

When developing your fundraising strategies, it’s vital to think of your donors. Who do you want as your ideal major donor? The following are two important things to know for success.

1. Cultivate Passionate People Committed to Your Cause

Major donors often want to know their gifts have a long-term impact on your organization. So, they often wish to see the excellent work done first-hand. You can invite major donors to visit your nonprofit or offer personalized tours (respecting the privacy of those you assist). These visits are an excellent way for them to get a feel for what you do. Moreover, they see how their donations help make a difference.

2. Remember Donors Who Already Provide Funding

It’s easier than you might think to identify potential major donor prospects within the donor pool. Moreover, your database is where you should start! It’s easier to cultivate major donor prospects from those who know you and contributed in the past. Consider a mid-level program. Doing so helps you start to bump donors up the giving ladder. So, review your CRM for people who donated generously in the past. Reach out to these individuals with sound fundraising strategies. If they express interest, plan a meeting with them.

Create Your Fundraising Strategies for Major Donor Success

When you seek to raise funds from major donors, you could do several things. For instance, you could create an event with them in mind. Or, you could offer them insights and experience for the broader strategic issues of your cause. However, it’s vital to find people with an affinity for your work. You also want always to listen carefully and ask questions, so you learn their interests. The following points will help you develop a fundraising plan for these affluent donors.

1. Develop a Structured Process for Donor Development

The best way to begin is by developing a structured process for major donor development. You want to put together a plan that outlines what you will do. It would be best if you also outlined when you’ll do it and the resources you need. It should include the primary contact within your nonprofit. For instance, will the executive director or chief fundraiser make the call, and why? Also, how will you follow up after those meetings or calls? A good plan also includes metrics to measure your progress over time.

2. Create a Foundation Partnership for Your Major Donors

A great way to start fundraising from major donors is by working with foundations. Foundations are a great source of funding, but they also know affluent donors. So, you could ask them if they would host an event for potential donor prospects at the major gift level. If you ask a foundation to give you ideas for leads, one important rule is to have a solid relationship with them. In other words, don’t approach foundations to help you create a major gift program if you have a new relationship. Also, tell them you aim to diversify (at a lower cost) your fundraising revenue stream.

3. Create an Engaging Giveback Program for Your Major Donors

You might think, what can I do to make my nonprofit more attractive to major donors? One thing you can do is create a giveback program or service program. Nonprofits use a service or giveback program to increase visibility and make themselves more attractive to potential donors. In short, you could offer the opportunity to volunteer for your organization in exchange for a donation. This type of event works very well with corporations. If you have individual c-suite executives as major donors, suggest a giveback or service program to broaden fundraising.

4. Enhance Your Relationships through Specialized Fundraising Events

In-person meetings are a great way to build a relationship with major donors and make your nonprofit more visible. If you hold an in-person meeting, be sure to make it worth the donor’s time. Offer something they won’t get by simply viewing your website or reading an email. For example, if you offer information about your programs and activities, be prepared to discuss those topics in detail. If you have a new program or service not easily explained on paper, offer them an opportunity to see it first-hand. Be strategic with how you approach major donors for donations.

The Bottom Line About Major Gift Fundraising

There’s no one-size-fits-all approach to fundraising from major donors. So, it’s essential to consider your unique needs and priorities. Then explore which methods would be most appropriate for your nonprofit. Identify your major donor prospects before you begin any fundraising activities. It allows you to reach out with customized information about your nonprofit’s mission, programs, and services. Remember, fundraising from individuals requires a more personalized approach, but it costs less per dollar to raise money this way.

 

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