I am often asked, “what is a major gift?”
A major gift to your organization will depend upon a number of factors. A donation of $10,000 may be considered a major gift to one organization, and an annual gift to another. The key to understanding what makes a donation a “major gift,” is in the process of solicitation. The solicitations for major gifts differ significantly from the solicitation process of smaller donations.
Major gift solicitations:
Evolve over a longer period of time as the relationship with the prospect is cultivated
Often involves face-to-face solicitation by peers who are often volunteers
Frequently encourage donors to become personally involved in the work and engaged with clients, and or other areas of the organization
Will often require greater, or more formal, forms of acknowledgment or benefits for their gift.
May result in gifts that are paid immediately or pledged over time
May result in gifts that come in the form of differed or planned gifts through tax advantage investment vehicles and legacy bequests
Whether your major gifts start at $1,000, $10,000 or $100,000, the role major donors play in the health of your organization is essential. When done well, the major donor solicitation process will result in donors that are increasingly knowledgeable, committed, and invested in your mission.
With some thoughtful adaptations and restructuring of your team or your time, no matter how lean, every organization can start a major gift program. Maybe it’s time to rethink the way you are soliciting and retaining major gifts.
Let’s chat,
Carolyn