by Jason Dick on February 8, 2010
This week’s Featured Fundraiser is Rochelle Zeidman.Thank you Katherine Wertheim for referring her to me.
If you ever would like to nominate someone for Feature Fundraiser just send me an email. - Jason
What kind of fundraising do you do and who do you do it for?
Strategy, campaign, foundation, corporate, individual major and principal gifts, and board fundraising are the kinds of fundraising I do for local, national, and global non-profits. Also develop fundraising products.
What keeps you going? Why do you keep working in development?
Development is a means to an end. I work in development because ultimately services depend on organizations acquiring resources. Development professionals keep the lights on in theatres, ensure food reaches those in needs, advance education for youth, help achieve solutions to pressing global health issues, and tackle so much more.
Conceptualizing and designing sustaining solutions keep me going.
What tips/advice do you have to other fundraisers in your field?
- Ours is a rapidly changing profession — stay tuned in to change so you will be an effective leader.
- Have a plan a, b and c for your organization and monitor closely.
- Your success is interdependent. Be active in your organization’s plans and actively network.
- Create opportunities for growth within your own organization.
What is the most frustrating or difficult thing about fund development?
A challenge about fund development is how other factors may affect results. That’s why it’s wise to take a broad view, look at trends, etc. Also your organization’s financials, visibility, reputation, relevance, social marketing, quality of programs, customer service, and technology can affect your fundraising.
Do you have any memorable donor visits or solicitations that you’d like to share?
My first week on a new job, our top donor passed away, and this gift was not endowed, which was a huge problem. I immediately created a challenge to five donors who were one level below to increase their gifts, which they did. In fact, several stayed at the new level. Long-term solution is to endow annual gifts to avoid this situation.
What is a funny story you’d like to share about a solicitation?
Funny story was a visit with president of my institution to a wealthy prospect who graciously offered us a beverage to quench our thirst — glasses of 150-year old scotch. I was eager to try this beverage but felt a quick small kick and urgent look from my president…and we politely refused. You guess: did we ultimately receive a gift?
by Jason Dick on February 3, 2010
A couple months ago, I wrote a post, Want to Versus Need to Hear. I had some great follow-up comments from that post, but I didn’t really give any practical advice about how to cope with receiving unwanted but needed advice.
When I was heartbroken over some difficult issue at school, my father always had the same advice for me. My Dad would tell me, “no matter how bad it gets, it won’t feel as bad in the morning.” I’ve found that advice to be mostly true. Whenever I’m discouraged or frustrated, giving it a night’s rest has almost always worked in taming my emotions and giving me a better perspective. Wait to draw your final conclusions on your frustrating situation until the next day.
We all need to have confidence that we are doing a good job in some areas of our lives and of our work. What is it about your job that you know you can do well, an area you have received recognition? Remembering those moments can be helpful in getting through those experiences of weakness. Take a minute to think about the difference you have made as a member of your profession. Talk with a client you’ve gotten to know well and hear their story again.
by Jason Dick on February 1, 2010
When I first started fundraising, I was always disappointed at how few names were on my prospect lists. It seemed that the majority of names I sent a letter or made phone calls to were the same names over and over again, and I consistently received a rather low response rate. So, I started looking in new places outside of just lapsed donors and donors from last year’s drive.
- Your local Book of Lists. Every community has those businesses that have become the popular ones to ask for money. Because these businesses get so much charitable attention, they can be the most difficult from which to receive funding.
- Local Chambers of Commerce. Businesses that participate in their chamber of commerce are often philanthropically minded but may not receive as many requests as the larger businesses in your community.
- Ask your board members to recommend names. I encourage you to sit down individually with your board members and ask them to add a few names to your prospect list.
- LinkedIn. One of my favorite places to go to find names and businesses is LinkedIn. Use the search function to find people or businesses in specific geographical regions or industry businesses. Check out the LinkedIn profiles of your board members and major donors to see who they already are connected to who might be good prospects.
by Jason Dick on January 27, 2010
I have seen major gifts fundraising done in two significantly different ways. One involves an active fundraising board who participates in all the major gifts solicitations for the organization. The other involves staff cultivating and growing these relationships themselves. Each of these two models focus on a different component of the traditional linkage, ability, interest concept I mentioned earlier this week.
Using your board to fundraise leans heavily on linkage as the major tool for fundraising. As community and business leaders, board members are a great connection to the community and to new donors. Board members can speak as peers with donors urging them to give at a similar level, as board members are often already major donors themselves. This method of major gifts fundraising focuses on the relationships board members have with the community as the primary way of soliciting gifts.
Other organizations do the majority of their major gifts fundraising through giving officers. These staff members are assigned a portfolio of donors with whom they grow and establish a relationship. This kind of fundraising focuses more on the interest and ability continuum of fundraising. Major Gift Officers use events and 1-on-1 interactions with these individuals to further connect them to the organization. Giving focuses on areas of interest within the organization as the primary way to sustain and grow financial support.
How does your organization operate? Do you primarily use board members or staff? Or, do you mix it up a little bit and use both?
by Jason Dick on January 25, 2010
Linkage, ability, interest are terms often used to describe a donor’s relationship to an organization; they do a pretty good job illustrating the key relationships donor’s have with an organization.
Linkage- You have a connection, or link, through past giving or through a board member or volunteer. Finding this link is often your key to getting a meeting with a donor prospect and the key to closing the gift. Often, whoever you link is should be a part of the cultivation and solicitation process.
Ability- A donor has the wealth or capacity to give a significant gift right now. Especially in difficult financial times, money can be tied up in many different ways. Knowing if a donor has recently sold a business or experienced a financial setback is helpful in rating prospects.
Interest- What issues resonate best with a donor? It is important to know a donor’s interests and if they connect with your specific organization. If a donor is interested primarily in education and you are an arts organization, it will be more difficult to generate giving to your organization.
Without any of these connection points it is difficult to receive any kind of major gift. Often, you will find your major donors will have more than one of these connection points when they first come to your organization. These three categories are the foundation behind much of prospect research and solicitation planning. When connecting with people in your community, try rating them in this way and targeting the individuals you have rated the highest.
Does your organization use a rating system to prospect and differentiate between donors? What system do you use? Have you made it a priority to be on the lookout and search for new qualified prospects for your organization?
