Major gifts seem like a fantasy for some of those in the small shop, to others they may feel like it will just magically happen when someone with a lot of money believes in them enough; which does happen, but you can’t exactly budget for it. Fortunately for you, there are actionable steps you can take to garner major gifts, and it may not be as difficult as you thought.
We were lucky enough to sit down with our good friend Jay Love to talk about major gifts for the small shops in this episode of the podcast.
Love suggests that we should “dedicate about one day per week” to fostering relationships for major gifts. You should be working with about “15 prospects at a time to find success.” You will be spending your time on those mid-level donors who may actually have the potential to be giving more but aren’t being cultivated — or in some cases, appreciated — like they could be.
The interesting thing about major gifts is that no two nonprofits define what a “major gift” is the same way. For some organizations, a major gift is $1000. For others, it looks more like $25,000 or more, and everything in between.
“It takes 12-15 touches to build that relationship before a major ask should be made… Many times [it’s] a two to three year lead-up to a major gift ask.”
Don’t get discouraged when you don’t gain a major donor next month. It takes time and a little effort each week. “It takes 12-15 touches to build that relationship before a major ask should be made… Many times [it’s] a two to three year lead-up to a major gift ask.” By putting your eggs in the right basket and following the steps Jay Love lays out in this episode of the Nonprofit Hubcast Podcast, you’ll be on the right track towards major gifts for the small shop.