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High Net Worth Individuals Fundraising

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High Net Worth Individuals Fundraising

  1. 1. Building Blocks for a Successful Major Donor Strategy Fiona Duncan 4 November 2008
  2. 2. • Major donor fundraising is just as much about the donor as it is the project • You don’t need bricks and mortar • People make this more complicated than it needs to be! • Knowing what to do; deciding what to do; being disciplined = success! • 7 Steps & Moves management are all you need.
  3. 3. • More professionals and fewer volunteers • Increasingly volunteers cultivate & professionals ‘close’ • Higher expectations • Doing more with less • Involved in higher solicitations
  4. 4. • Involvement • Impact – making a difference • Global and home country • Added value • Social enterprise • Head and heart
  5. 5. Considerations suspects  prospects  donors 100  15  5 Research requests – levels Portfolio management Data control Reporting
  6. 6. How many donors do I need?? Gift Size Number Value Donors £5m 1 £5m £3m 2 £6m £2m 4 £8m £1m 6 £6m £100k- £1m 20 £5m Total 33 £33m
  7. 7. How many donors do I need?? Assumptions Prospect Conversion 8 to 1 External Conversion 25 to 1 Prospect Research Wealth Band Matches Conversion Gift Level Total £50m+ 2 0 500,000 125,000 £25-50m 6 1 250,000 187,500 £10-25m 10 1 100,000 125,000 £5-10m 112 14 50,000 700,000 £1-5m 768 96 10,000 960,000 Influential 355 44 10,000 443,750 Total 1253 157 2,541,250
  8. 8. Critical success factors • Powerful Case for Support – just what do you want the money for? • Excellent research • Excellent cultivation • Making the ask • Loving your donors • Asking again
  9. 9. What is leadership? • Wealthy donors influencing other wealthy people to give • Wealthy donors who will use their networks • People will follow leaders – lead gifts are critical • Big donors will push average gifts up – small donors will push average gifts down
  10. 10. Secrets of a Leadership Forum • Excellent Chair who has made a big gift • Clarity of purpose • Clarity of targets • Time limited • High-powered • Exclusive
  11. 11. Eight Step Cycle 1. Discover 2. Research
  12. 12. Eight Step Cycle 1. Discover 2. Research Stewardship
  13. 13. history database stakeholder mapping circulate lists Discover ask geography press competitors service users
  14. 14. Finding your prospects
  15. 15. Developing a Prospect Hypothesis • Describe the sorts of people who: • Have the right levels of wealth • Have evidence of philanthropy • Have some connection to the cause • Are active in fields other than their work • Have business interests whose brands fit with you
  16. 16. propensity criteria & maintenance capacity Research volume database in-house / commission? pipeline management
  17. 17. Researching your prospects • Start with your database – they already love you! • Use research companies or employ a researcher • Use all published information • As names come up, ask your trustees and existing supporters if they know them
  18. 18. benefit ability matrix fit family Quantify age influence affinity wealth social philanthropy
  19. 19. Decide the: • criteria • importance • and multiplier
  20. 20. when who Introduce where why what
  21. 21. planned relationships interest involve Cultivate stages build loyalty activities
  22. 22. Cultivation • How to meet them? • Go where they go • Hold an event they would like • Use celebrities • Ask for a meeting • Events • Staff well • Brief and debrief fully
  23. 23. Cultivation • Assign a staff member to each MD • Provide them with the information they ask for • Invite them to a project visit • If they come, you’ve got them!
  24. 24. how much? for what? Ask how? who?
  25. 25. The ask • Many volunteers hate this • Best done by a professional • Know the right level of ask • If in doubt, ask them
  26. 26. who documentation signing ceremony gift agreement Thank and deliver tax reports project management recognition
  27. 27. Follow up • Thank • Inform • Involve • Report • Surprise • Celebrate

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