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4 reasons to focus on major gifts (including major legacy gifts)
1. 3% of U.S. Households are responsible for 67% (2/3) of all household charity (according to the 2011 Bank of America Study of High Net Worth Philanthropy).
2. People earning $10 million or more each year gave the most non-cash donations, totaling 1/3 of all non-cash donations (according to the 2011 IRS Statistics Income Bulletin)
3. Major donors are easy to reach online. For instance, executives from every single one of the Fortune 500 are members of LinkedIn.
- NOTE: Twice as many high net worth people use LinkedIn compared with Facebook, Twitter and Google+ combined. 41% of millionaires use LinkedIn vs. only 10% who use Twitter
.
4. Focusing on major gifts is cost-effective and efficient because of the significantly lower cost to acquire and cultivate them. Unlike populist fundraising, major gift marketing costs just pennies for every dollar it returns.
Is your organization budgeting enough to acquire and build relationships with major donors? Or are most of the dollars being thrown at acquisition efforts aiming for low-dollar donors?
Let me know!
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Feeling like your job is getting harder because donor expectations have changed and competition for the charitable dollar is growing?
Finding that the old orthodoxies and conventions espoused by so-called experts in online echo-chambers and at conferences don’t work anymore?
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Engagement Fundraising was developed from the perspective of a donor who discovered firsthand that the impersonal, spray-and-pray approaches of his beloved charity were not only offensive but also wasteful and ineffective. So he took action. And now, you can too.
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