Major giving is your charity’s ultimate tool to help manage challenges. Major gifts can help you work more effectively toward your mission, fund a critical need, or expand your services to a broader audience.
All major donor prospects will have given to and interacted with your charity at some point. Beyond that qualification, what additional indicators should you look for that demonstrate a prospect’s willingness and ability to become a major donor?
In this guide, we’re going to review the three major donor indicators noted in Bloomerang’s major gift fundraising guide (otherwise known as the three C’s):
- A deep connection to your organisation
- Demonstrated concern for your mission
- Capacity to give in larger amounts
Let’s explore exactly what to look for in each of these categories.
1. A Deep Connection To Your Organisation
Convincing someone to make a significant gift to your charity requires them to have more than just a passing fancy for your organization. Donating is an emotional experience for most supporters, so you should seek prospects with a strong existing connection to your charity and its work.
Use your nonprofit CRM to identify donors with characteristics that indicate a powerful affinity for your mission, including:
- History of event attendance and donations, such as large auction donations
- Long-time participation as a volunteer, board member, or committee member
- Participation in a peer-to-peer campaign, whether as a fundraiser or donor
- Current status as a corporate sponsor or other community partner
- Status as a former beneficiary of your services or a family member of a beneficiary
These traits demonstrate that an individual has taken steps to get to know your organisation better and become more personally involved with its mission. In addition to using your nonprofit’s CRM to identify this information, you can also directly ask supporters via surveys how they feel about your organisation and what motivates them to continue giving their support.
2. Demonstrated Concern For Your Mission
Along with a loyal commitment to your organisation, major donor prospects must strongly believe in your mission itself. Your organisation may change over time as programs evolve, staff and board members change, and the scope of your work expands. However, your mission will stay consistent throughout all organisational changes.
These statements will likely ring true for many of your prospective major donors:
- They learn about your mission regularly. They’re highly engaged with your organisation’s marketing materials, sharing social media posts, opening emails, responding to direct mail inquiries, and watching videos.
- Your mission is related to their field of work or study. Many people pursue educational degrees or career paths that align with their interests and principles. For example, your environmental organisation may attract donors who are leading conservation researchers at local universities.
- Your mission is a personal value to them. Use surveys and conversations with potential prospects to understand their personal values and whether those contribute to a deep sense of duty to support your mission. For example, some supporters may have a firmly held religious belief or personal conviction to help people experiencing poverty in their community.
Review your donor database to identify prospects who exhibit a strong commitment to your mission and goals. These indicators suggest that a supporter is not only prepared to make a larger donation but also willing to maintain that level of giving to help advance your mission.
3. Capacity To Give In Larger Amounts
Of course, every prospective major donor must be financially equipped to contribute at the highest level. Identifying which donors have the capacity to donate large sums allows you to focus your major gift cultivation efforts on realistic prospects.
Prospects may be in the right financial situation to give a major gift if they:
- Exhibit multiple wealth indicators. These characteristics include stock and real estate ownership, large donations to other charities or political organizations, and business affiliations.
- Make multiple gifts throughout the year. Major gift prospects may contribute multiple times a year in sums that add up over time. For example, the largest contributors to your monthly giving program could be potential major giving prospects.
- Are currently mid-level donors. Although mid-level donors typically maintain their giving level, they’re often among the most likely prospects for bequests and legacy giving, which are important forms of major giving. One study found that over half of mid-level donors surveyed either made a bequest to a charity or planned to do so.
Use a prospect research database to identify prospects who exhibit specific wealth indicators, like real estate holdings and stock ownership. This type of tool is especially useful if you’re a small charity without a prospect research specialist on your staff.
Remember that the most promising major giving prospects will exhibit all three indicators discussed in this guide. If you focus solely on wealth indicators, you may find yourself reaching out to individuals who have the means to make significant contributions but lack the motivation to do so. On the other hand, if you only concentrate on affinity indicators and neglect wealth information, you might waste your time and resources on individuals who are unable to give at a higher level.
By considering every facet of what drives someone to become a major donor, you can more easily identify which supporters to prioritize in your cultivation efforts and drive a higher return on investment for your major gift program.
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