How Do I Ask for Big Money?

Asking donors for big money can be challenging, but there are some strategies that nonprofits can use to increase their chances of success: 

1. Build a relationship: Before asking for a large donation, it's important to build a strong relationship with the donor. This involves regular communication, personalized interactions such as phone calls and a deep understanding of the donor's philanthropic interests and goals. Be open and authentic about your own interests and lives and you will find that donors will match this with sharing about themselves. 
2. Create a compelling case: Donors are more likely to make a large gift when they are inspired by a compelling case for support. This may involve sharing stories of impact, highlighting the unique value proposition of the organization and providing evidence of the need for the gift. *We added a large number of samples to the resource folder for you. 
3. Demonstrate transparency and accountability: Donors want to know that their money will be used effectively and efficiently. Nonprofits can increase their credibility by being willing to share financial updates, communicating on the impact that is being made and being clear about meeting and exceeding anticipated program outcomes. Send photos, clippings, videos and any other materials you can regularly. 
4. Offer recognition and stewardship: Donors who make a large gift want to feel appreciated and valued. Nonprofits can offer recognition and stewardship, such as naming opportunities, exclusive events and personalized updates on the impact of the gift. 
5. Be clear and direct: When asking for a large gift, it's important to be clear and direct about the specific amount being requested, as well as the impact that the gift will have. Always be prepared to answer questions and provide additional information as needed.

Overall, asking for a large donation requires careful planning, preparation and relationship-building. And it requires PRACTICE! We will get into that much more in our next session.

How should I approach a major donor for my organization? 

Approaching a major donor for your organization requires careful planning and preparation. Here are some steps you can take to make the process as smooth and effective as possible: 

1. Research the donor: Before reaching out to a major donor, it's important to do your research. Learn as much as you can about the donor's philanthropic interests, giving history and personal background. This can help you tailor your approach and develop a more compelling case for support. 
2. Develop a strong case for support: To persuade a major donor to give to your organization, you need to have a clear and compelling case for support. This should include a concise summary of your organization's mission, goals and impact, as well as a specific request for funding and a clear explanation of how the gift will be used. 
3. Determine the right timing: Timing is important when approaching a major donor. Consider factors such as the donor's availability, current events and other fundraising campaigns that may be competing for attention. Choose a time when the donor is likely to be most receptive to your message. 
4. Choose the right messenger: The person who makes the ask can have a big impact on the donor's decision. Consider who would be the most effective messenger, whether it's a board member, executive director, or a volunteer with a personal connection to the donor. 
5. Personalize your approach: Major donors want to feel valued and appreciated. You can customize your outreach by tailoring your message to the donor's interests and priorities and by acknowledging their past support of your organization. Remember we talked about having a conversation about their family, travels, etc. 
6. Follow up and steward the donor: After making the ask and receiving the gift, it's important to follow up with the donor and provide regular updates on the impact of their gift. We call this stewardship. Stewardship is critical to building long-term relationships with major donors, ensuring recurring donations and securing future gifts. 

By taking these steps, you can approach a major donor for your organization in a thoughtful, personal and effective way with typically very positive results.