Major gifts, if they are to prove to be more effective philanthropic conversation starters and, ultimately, investment worthy will have to be more thoughtfully conceived by organizational leaders in collaboration with advancement practitioners. The hallmarks of the effective, compelling major gift concept will be, does it:
- Leverage a documentable organizational strength, asset or distinction?
- Describe how the concept will be implemented, how and by whom?
- Depict the end benefit, who the beneficiaries are, and how they will benefit?
- Detail how the donor will be kept informed throughout the process?
- Offer ways the donor can be involved, particularly by providing psychic rewards that money can’t buy?
The testimony for the trenches is clear. In the words of our colleagues, “We need more compelling major gift concepts” and “Even our loyal donors are asking tougher questions.” Gone are the days of putting ‘strategic pillars, or gauzy self-congratulatory concepts in front of dyed-in-the wool loyalists for broad purposes, of getting gift commitments, then figuring out how to keep our promises or hoping the donor doesn’t ask too many tough questions after the fact. A competitive major gift concept must include an implementation plan and a stewardship plan.
Remember, the way we make our money determines the way we give our money. We will be facing more and more donors who are younger, who made their money through entrepreneurial means, who are more loyal to a value set than to a particular institution and who are accustomed to a process of due diligence before making significant financial decisions.
Jim Langley is the president of Langley Innovations. Langley Innovations provides a range of services to its clients to help them understand the cultural underpinnings of philanthropy and the psychology of donors and, with that knowledge, to develop the most effective strategies and tactics to build broader and more lasting communities of support. Jim has authored numerous books, including his most recent book, The Future of Fundraising: Adapting to New Philanthropic Realities, published by Academic Impressions in 2020.
Related Resources:
- Webinar: 4-Step Process for “Reimagining Fundraising Operations”
- Why Would A Donor Want To Build A Relationship With a Fundraiser?
- A Positive Trend In Fundraising That’s Applicable to All We Do
- How to Fundraise? Understand The Donor’s Why
