nidos major donor fundraising workshop 19th jan 2010
TRANSCRIPT
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NIDOS
MAJOR DONOR WORKSHOP
January 2010
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Introductions
Imogen Assenti
Assenti & Co founded in 2007 Major Donor Fundraiser – charities,
university & community foundation Philanthropic Adviser Fundraising & Marketing Consultant
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Aims of Today
• Where to research potential major donors for international development work, including how to reflect on the potential from among your existing supporter base
• How to develop a major donor fundraising strategy
• How to develop funding scenarios• Plan for and make an ask
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Seven Steps to Major Gift
1. Identify the prospect2. Research and evaluate3. Decide on approach strategy4. Cultivate the prospect5. Ask for the gift6. Negotiate the deal7. Stewardship - look after the donor
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Who/ what is a major donor?
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Who/ what is a major donor?• Wealthy individual/ family (inherited or created)• Charitable Trust/ Foundation• Capable of making gift of 5 figures+• Committed to the mission of the organisation • Tend to give restricted gifts• Long-term donor loyalty • Need regular personal cultivation (peer giving)• Can be motivated by tax considerations & donor
recognition• Want to know who else is giving
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Why Major Donor Fundraising?
• Cost effective – investment high, but high returns •15 years ago, 75% of the Sunday Times Rich List had inherited their wealth and 25% were self-made. Today that ratio is reversed• Giving while living vs legacies• Engaged philanthropy (venture, catalytic)• Investment approach (core costs)• Philanthropy advisers/ organisations (NPC, Philanthropy UK, Coutts etc)
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Major Donor Trends
• 07/08 189 £1million+ Gifts(£1.4 billion total, down 13% on 06/07)
• 51% from Individuals (trusts), 38% from Foundations and 11% from companies
• 42% into Foundations, 22% Higher Education, 17% Arts & Culture, 8% International Aid & Development
• Increase from £81million in 06/07 to £105million in 07/08 to Int. Aid & Dev
* Coutts Million Pound Donors Report 2009
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Major Donors - Identification
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How do we find Major Donors?
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Major Donors - Identification
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How do we find potential Major Donors?
• There’s no place like home.....- Trustees, donors, supporters, volunteers
• Relies on good data & communication across the whole organisation• Donor behaviour (increased giving, consecutive gifts, cumulative gifts, other engagement)• Donor characteristics (home address, profession, demographics)• Previous giving – capacity to give – propensity to give – matched interests
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Major Donors - Identification
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How do we find potential Major Donors?
• External Sources- Contacts of other Donors, Trustees etc- Media (The Rich List, newspapers, internet)- trustfunding.org- Insider 500
• Specialist research agencies & consultants- Action planning, Factary etc
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Major Donors - Research
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How do we qualify Prospects?
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Major Donors - Research
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How do we qualify Prospects? • Internet – free info via google etc • Who’s who & Debrett’s• Companies House Direct• Factiva• Plum/ DASH• trustfunding.org• Information from Trustees, volunteers etc• Face to face conversations/ meetings
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Major Donors - Research
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PERSONAL BIOGRAPHICAL INFORMATION Photo Name Address DOBSpouse’s name ChildrenHobbies EducationPersonal networks ie Charity Boards, AssocsConnections/ Links (links to other prospects/ donors ie sister of, friend of, colleague of)
BUSINESS INFORMATIONPrimary company name Address & contact infoRole/ position ShareholdingSalary Active Directorships/ Other RolesFormer Directorships/ other Roles PA name & contact details
PHILANTHROPYTotal Annual Giving (estimated + known)Other charities supportedAreas of interest/ prioirities
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Developing a Major Donor Strategy
What does your organisation need?- do you need money now or is a capital
campaign in 2 years your goal?
What resources do you have?- financial & non-financial (paid staff,
volunteers, potential donors)
What’s your experience?
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Developing a Major Donor Strategy
• Aims & Objectives• Major Donors & how to reach them• Fundraisers• Marketing & Communications• Other resources (database, research
materials)• Timescales• Budget• Action Plans• Monitoring & Evaluation
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Developing a Major Donor Strategy
Aims & Objectives - CASE FOR SUPPORT • Reasons why a funder should agree to
fund or invest in the project/ service/ item• Transparent costs• Information on what this will offer the
beneficiaries of the project (outcomes)• A strong vision, inspiration and
imagination• Distinction from other charities – USP• ROI
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Developing a Major Donor Strategy
Major Donors & how to reach them
• People give to people• Relationship fundraising – understanding
needs, interests and aspirations• Peer fundraising – donor to donor• Takes time (2yr +) - Ask at the right time• Face-to-face meetings & well prepared
communications
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Developing a Major Donor Strategy
Fundraisers
• Organisation Leadership - senior management & TrusteesFundraising team
• Experts – service delivery• Volunteers• Ambassadors/ champions
Invest time & money in training
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Developing a Major Donor Strategy
Marketing & Communications
• CASE FOR SUPPORT • Tailored approach • Engagement & cultivation events• Consistent messaging• Website• Donor recognition opportunities
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Developing a Major Donor StrategyOther resources• Database – donor profiling & management• Research materials – free vs paid
Timescales• 2yrs + - leadership buy-in
Budget• Speculate to accumulate
Monitoring & Evaluation• Stewardship - ongoing
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Developing a Major Donor Strategy
Challenges & Opportunities?
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Developing a Major Donor Strategy
Challenges & Opportunities?• New income stream• New fundraising skills
• Requires investment & commitment for a long term pay off
• Requires culture change• Potential lack of leadership buy-in• Regional vs national fundraising• Poor communication across organisation
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Developing a Major Donor Strategy
• Don’t fail to plan
• Need a change in culture – leadership & relationship fundraising
• Invest in training
•Invest in systems – database & comms
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Developing an Investment Case
• Charity – who are you, what do you do?• What would you ask as a donor?• A strong vision, inspiration and
imagination• Reasons why a funder should agree to
fund or invest in the project/ service/ item• Transparent costs• Information on what this will offer the
beneficiaries of the project (outcomes)• Distinction from other charities – USP• ROI
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BREAK
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The Prospect Meeting
• Salutation• Introduction & explanation – who are you
and why are you here?
• SOLICITATION – THE ASK
• Addition• Reiteration• Thanks & goodbye
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Solicitation – The ask
• Probe • Match• Confirm• Close
PMCC
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Solicitation – The ask
Probe
• What motivates & interests him?• What does he like/ dislike?• Open questions – who? what? where?
when? how? Why?• Listening mode
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Solicitation – The ask
Match
• Match prospect’s needs to benefits you offer
• How will giving to you fulfil his needs?• Don’t oversell – laundry list of items• Stress the benefits & outcomes – ‘this will
mean..’, ‘if we could...’• Handle objections – don’t ignore them!
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Solicitation – The ask
Confirm
• Get the prospect to confirm he is happy being asked
• Once he has agreed his needs are matched it’s difficult to say no
‘so would you agree with us that...’‘if I could just sum up what you feel about
the programme’• Handle any objections & return to
confirmation31
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Solicitation – The ask
Close• If you don’t close, you might as well not be
there• Asking start of negotiating• Agreement to move to next stage‘would you consider a gift of ...’‘we are looking for .....’‘could you help us.....’‘have you considered supporting...’‘would you like to see the project...’
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Solicitation – The ask
• Probe • Match• Confirm• Close
PMCC
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Thank You
www.assentiandco.com
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