Tip 45 Wealthy Donors

15 Sep 2017 12:14 PM | Heather Kaye (Administrator)

Our last tip was full of great fundraising ideas. The first one was about Major Donors. Let's drill down on this topic—How do you cultivate wealthy donors? Carnegie Mellon surveyed actual donors and their feedback is invaluable. Super Wealthy Donors say Fundraisers who do their Homework get the Big Gifts. Most philanthropists want fundraisers to take the time to do their homework and then tailor fundraising approaches specifically to their interests. 

Smart Fundraising Tips from Wealthy Donors

  1. Get to know your donor. Take the time and the patience to get to know your donors. Their giving inspriations are often developed from childhood. Most donors are reactive—they tend to give when asked or are emotionally moved, but wealthy donors tend to be active donors. They tend to have a strong personal link to their giving and they pay attention to how their donations are being used. Arrange an onsite visit if at all possible.
    See the Chronicle’s Database of Gifts of $1 million or more.
    Learn more about the nation’s most generous donors at Philanthropy 50.
  2. Find out what your donor cares about. Get to know your donors, what they care about and why. Look for alignment between what your donor values and what a gift to your organization will do. Give a prospective donor as much information as they need to understand your cause and develop a strong interest in it. Make sure your website and social media profiles are current and relevant. Know your donor well enough to have an easy one-on-one meeting. Never forget that ommunication, trust and accountability are the foundations of your relationship.
  3. Enlist your board members. Make use of your trustees and encourage board members to cultivate and solicit wealthy people. If they are not comfortable with this role, they may need a few tips. Encourage them with your specific, successful ideas to jointly meet your missions goals. These starter lines might help their motivation.
A Love Affair: The Art of Not Asking | Melissa Metcalf Le Roy | TEDxTryon
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