Nonprofits work tirelessly to bring in donors of all abilities, but major benefactors—those who give notably substantial gifts—can significantly impact an organization’s fiscal well-being. Research reveals that over 88% of all contributions originate from just 12% of patrons. Hence, major donor assessment is crucial. Here are the reasons for and how to focus on this pivotal process.
The Value of Major Benefactors
Major benefactors account for the bulk of contributed income, rendering their discovery and cultivation indispensable. Investing in a major presents program yields a higher return relative to other fundraising methods. While special occasions can be costly and direct mail regularly results in losses, major benefactor programs typically cost around 10 cents for each dollar elevated. In an era of tight finances, allocating assets productively is vital.
Major Benefactor Fundraising Fundamentals
A successful major benefactor program has three main objectives:
1. QUALIFY: Identify potential major benefactors.
2. CULTIVATE: Develop customized relationship-building plans.
3. REQUEST: Secure significant donations.
However, many nonprofits overlook the qualification step, which is critical for effective resource administration.
The Downsides of Skipping Qualification
Qualifying major benefactors involves more than just recognizing enormous contributions. It’s about determining if a benefactor is interested in a deeper relationship with your organization. Simply labeling all high-dollar benefactors as major prospects can lead to an unmanageable workload and inefficient use of assets.
Smart Qualification Tactics
1. Personal Invitations: Send personalized letters or emails introducing yourself and expressing a desire to meet. 2. Follow-Up Calls: Reference your initial communication and leave messages. 3. Text Messages: Reach out via text for convenience. 4. Persistence: Make several attempts to connect. 5. Surveys: Send a brief survey if initial efforts fail. 6. Final Note: Express regret if you can’t connect, but keep the door open for future contact.
By batch processing these steps, you can productively manage your workload and focus on benefactors who truly want to engage.
The Benefits of a Qualified Portfolio
A well-qualified benefactor portfolio means you’re spending time with those who genuinely want to support your cause. This targeted approach increases both benefactor satisfaction and the likelihood of securing significant contributions. Plus, it provides a solid justification for expanding your team if necessary.
Final Thoughts
Qualification may take time, but it’s a pivotal investment. A qualified portfolio ensures meaningful relationships, resulting in more substantial and consistent support. By following through with those who show interest, you’ll build a robust benefactor base that can drive your nonprofit’s mission forward.
For more insights on effective fundraising and benefactor management, visit Werbylo.com. We’re here to help you maximize your nonprofit’s potential.
