With tightening budgets across universities, the need for fundraisers to maximize major gift solicitations has never been more critical. In today’s competitive environment, securing larger gifts from donors requires a strategic approach. When a donor expresses interest in making a gift of a certain size, how can fundraisers encourage them to consider a more substantial contribution? Here are several proven strategies to increase gift sizes and strengthen donor relationships.
1. Multi-Year Pledges
When a donor is considering a gift, such as $20,000, one effective approach is to ask them to spread that commitment over several years. For example, a pledge of $20,000 annually over five years results in a $100,000 gift that can be booked now, significantly increasing the overall impact.
2. Corporate Matching Gifts
Corporate matching programs are an excellent way to increase a donor’s contribution. Encouraging donors to check if their employer offers a matching gift program could effectively double their donation, turning a $25,000 gift into $50,000.
3. Enhanced Naming Opportunities
If a donor expresses interest in naming a space within a building, you can encourage them to consider a higher-exposure space with greater visibility. This not only increases the value of their gift but also aligns their contribution with a more prominent recognition opportunity.
4. Endowing an Annual Fund Gift
For donors who consistently give to the annual fund, offering the option to endow that gift can have long-term benefits. By endowing their annual contribution, the donor ensures their support continues indefinitely, making a lasting impact on the institution.
5. Blended Gifts
Blended gifts combine a donor’s annual contribution with a bequest intention. By adding a planned gift, such as a bequest in their will, donors can make a significant impact both now and in the future, leaving a legacy while continuing their current giving.
6. Collective Major Gifts
When a group of donors shares an interest in supporting a particular area, their smaller contributions can be pooled together to create a major gift. This “group effort” can rally individuals around a cause, combining their resources to make a substantial collective impact.
7. Tribute Gifts
For donors who had a meaningful mentor or influential figure during their time at the university, setting up a fund in that person’s honor can be a powerful motivator. This type of tribute gift offers both recognition for the honoree and a deeply personal connection for the donor.
8. Stock Donations
Encouraging donors to consider a gift of stock rather than cash can allow them to contribute a larger amount without depleting their liquid assets. Stock gifts provide donors with significant tax advantages, including a charitable deduction and capital gains tax avoidance.
Conclusion
In today’s economic climate, fundraisers must employ creative and strategic methods to help donors maximize their giving potential. By leveraging multi-year pledges, corporate matches, naming opportunities, endowed gifts, blended gifts, group efforts, tribute funds, and stock donations, universities can secure larger donations that make a lasting impact. Each of these strategies builds on the donor’s existing intent while helping them see how they can make an even greater contribution to the institution’s future. By guiding donors through these options, fundraisers can turn potential into reality, ensuring vital support for their institutions in the years ahead.
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