Download - High Net Worth Individuals Fundraising
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Building Blocks for a
Successful Major Donor
Strategy
Fiona Duncan
4 November 2008
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• Major donor fundraising is just as much about the donor as it is the project
• You don’t need bricks and mortar
• People make this more complicated than it needs to be!
• Knowing what to do; deciding what to do; being disciplined = success!
• 7 Steps & Moves management are all you need.
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• More professionals and fewer volunteers
• Increasingly volunteers cultivate & professionals ‘close’
• Higher expectations
• Doing more with less
• Involved in higher solicitations
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• Involvement
• Impact – making a difference
• Global and home country
• Added value
• Social enterprise
• Head and heart
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Considerations
suspects prospects donors
100 15 5
Research requests
– levels
Portfolio management
Data control
Reporting
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How many donors do I need??
Gift Size Number Value
Donors
£5m 1 £5m
£3m 2 £6m
£2m 4 £8m
£1m 6 £6m £100k-£1m 20 £5m
Total 33 £33m
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How many donors do I need??
Assumptions
Prospect Conversion 8 to 1
External Conversion 25 to 1
Prospect Research
Wealth Band Matches Conversion Gift Level Total
£50m+ 2 0 500,000 125,000
£25-50m 6 1 250,000 187,500
£10-25m 10 1 100,000 125,000
£5-10m 112 14 50,000 700,000
£1-5m 768 96 10,000 960,000
Influential 355 44 10,000 443,750
Total 1253 157 2,541,250
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Critical success factors
• Powerful Case for Support – just what do you want the money for?
• Excellent research
• Excellent cultivation
• Making the ask
• Loving your donors
• Asking again
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What is leadership?
• Wealthy donors influencing other wealthy people to give
• Wealthy donors who will use their networks
• People will follow leaders – lead gifts are critical
• Big donors will push average gifts up – small donors will push average gifts down
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Secrets of a Leadership Forum
• Excellent Chair who has made a big gift
• Clarity of purpose
• Clarity of targets
• Time limited
• High-powered
• Exclusive
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Eight Step Cycle
1. Discover 2. Research
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Eight Step Cycle
Stewardship
1. Discover 2. Research
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Discover
database
competitors press
stakeholder mapping
service users
circulate lists
geography
history
ask
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Finding your prospects
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Developing a Prospect Hypothesis
• Describe the sorts of people who:
• Have the right levels of wealth
• Have evidence of philanthropy
• Have some connection to the cause
• Are active in fields other than their work
• Have business interests whose brands fit with you
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Research database
in-house / commission?
pipeline
maintenance criteria
propensity
&
capacity
volume
management
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Researching your prospects
• Start with your database – they already love you!
• Use research companies or employ a researcher
• Use all published information
• As names come up, ask your trustees and existing supporters if they know them
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influence
affinity wealth
fit
Quantify
ability
matrix
social
benefit
philanthropy
age
family
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Decide the:
• criteria
• importance
• and multiplier
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Introduce
why
what
when
who
where
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Cultivate
build loyalty
activities
relationships
interest
planned
stages
involve
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Cultivation
• How to meet them?
• Go where they go
• Hold an event they would like
• Use celebrities
• Ask for a meeting
• Events
• Staff well
• Brief and debrief fully
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Cultivation
• Assign a staff member to each MD
• Provide them with the information they ask for
• Invite them to a project visit
• If they come, you’ve got them!
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Ask
how? who?
how much?
for what?
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The ask
• Many volunteers hate this
• Best done by a professional
• Know the right level of ask
• If in doubt, ask them
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Thank and deliver
recognition
project management
signing ceremony
tax
reports
documentation
gift agreement
who
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Follow up
• Thank
• Inform
• Involve
• Report
• Surprise
• Celebrate
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