In an era of tightening budgets within universities, the role of major gift officers has never been more important. Maximizing solicitations has become a paramount mission, and one of the key challenges is elevating donors to consider larger, more impactful gifts. When a donor expresses a desire to make a gift of a certain size, the question arises: How can fundraisers get them to reach even greater heights of generosity? Here, we unveil eleven strategic approaches to empower major gift officers to cultivate larger contributions from their donor base:
1. Multi-Year Pledges:
- Encourage donors considering a substantial gift, such as $20,000, to make it over multiple years. This approach allows the gift to be recorded immediately as a more substantial commitment, such as a $100,000 gift, amplifying its impact over time.
2. Corporate Matches:
- Inquire whether the donor’s employer offers a corporate matching gift program. By leveraging such programs, donors have the opportunity to double the impact of their gift, making it even more meaningful.
3. Better Naming Opportunities:
- When a donor expresses an interest in naming a space within a building, guide them toward a more prominent and visible location. This not only enhances their legacy but also elevates the recognition associated with their gift.
4. Endowing Annual Fund Gifts:
- For donors who make regular annual gifts, propose the establishment of an endowment to support their annual contribution. This transforms their ongoing support into a lasting legacy.
5. Blended Gifts:
- Encourage annual donors to consider adding a bequest intention to their giving strategy, thereby augmenting the long-term impact of their support.
6. Group Effort:
- When a cohort of prospects shares a common area of interest, explore the potential of pooling smaller gifts to collectively create a major impact.
7. Donor Advised Fund (DAF):
- Forge a profound and enduring relationship with donors who utilize DAFs. This connection can lead to a substantial portion of their DAF contributions being directed to your university in the future.
8. Tribute Gifts:
- Motivate donors who hold mentors or influential figures from your university close to their hearts to establish endowed funds in honor of these individuals. This tribute serves as a poignant way to elevate their philanthropic commitment.
9. Gift of Appreciated Stock:
- Promote gifts of appreciated stock, which enable donors to contribute a more substantial gift without depleting their cash assets. This approach offers the added benefits of a charitable tax deduction and capital gains tax avoidance.
10. Push from Leadership: – Leverage the involvement of your university’s president or other leadership figures to enhance the ask. Their endorsement and engagement can inspire donors to consider larger gifts.
11. Focus on the Impact: – Shift the conversation from the gift amount to its profound impact. Highlight how a larger contribution will directly advance the goals of the donor’s area of interest, emphasizing the transformative potential of their generosity.
In essence, the imperative for major gift officers is to strategically guide donors toward larger contributions. This endeavor is not about aggressive persuasion but rather about creativity and showcasing how donors can make the most significant impact in areas they hold dear. By employing these strategies, major gift officers can harness the full potential of philanthropy to drive positive change within their institutions.
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