How to Build a List of Prospects for Your Nonprofit’s Major Gifts Program
A step-by-step guide to finding the right major gift donors for your organization.
Major gifts are the largest donations an organization receives from individual donors. That could be a $100K donation for a larger nonprofit or a $5K gift for a smaller one. Studies show that, on average, 88% of charitable gifts come from 12% of donors. This is great news because your nonprofit likely has all the information it needs to build a list of prospects to establish your major gifts program.
Characteristics of an Ideal Major Gift Donor
Your ideal major gift donor is already in your database. They are the people who (1) have a passion for your mission, (2) have shown loyalty to your organization with consistent giving over 5 years, (3) proven their financial capacity to give to your organization and others, and (4) are a board member or volunteer.
Your prospects don’t have to check off all four traits in the list above, but the donors who do will likely be the best match for your major gifts program.
Let’s get started by mining your fundraising database to build a list of major gift prospects using a few simple query searches.
Finding Your Major Gift Donor Prospects
1. Find Your Largest Donors: From your fundraising database, run a report of the donors who gave the most cumulatively over the past 12–24 months. If you search for only gifts above a certain amount, you may miss donors who give smaller amounts throughout the year that, added together, surpass the benchmark for which you’re searching. Eliminate corporations and foundations from that list before moving to the next step.
2. Find Your Loyal Donors: Run a report of the donors who have given at least four times during the last five years. This list will also catch donors who gave smaller amounts per year but did so consistently for several years.
The donors who are on both lists are going to be your best major gift prospects. You should focus your efforts on a smaller list of 10–20 prospects who have cumulatively given the most money.
You can identify the best possible prospects by taking your research even further. Look for certain wealth indicators, such as philanthropic activity with other organizations, business affiliations, political contributions, and assets (real estate, stocks, and investments).
Now you have your list of major gift prospects to get started.
Making the Ask … Take It Slow
Before you pick up the phone to ring your first prospect, keep in mind that the relationship between your organization and a major gift prospect should be treated like a marathon, not a sprint. Depending on the size of the request, you need to begin cultivating a relationship with your prospect several months to a year in advance of your ask.
Take time to get to know the prospect through phone calls, meet & greets, lunches, event invitations, and regular correspondence. Learn your donor’s motivations, background, as well as likes & dislikes to position your organization as the best match for their philanthropic interests. Along the way, you can make smaller, non-financial requests (i.e. joining a committee or volunteering as a mentor) to deepen their commitment to your organization.
It’s vital to the success of your major gifts program that your leadership team cultivate true connections with these donors and avoid treating them like ATMs. Each and every touchpoint in your major gift strategy matters, and your prospect should never feel rushed or pressured along the way.
