In my most recent post, I said that Board Members need to understand how to ask a donor for a significant gift. This is true even if they are relying on their staff teammate to be the designated asker. How can these solicitations for significant gifts (also called “major gifts” – see my definition here) go smoothly and with great results?
This month, I will discuss timing of the ask and research needed before the meeting. How much to ask for is a topic with many subtleties, so I will save that for next month, although you will see the subtopic headings at the end of this post.

Timing

Too early.
First, let’s talk about whether you should ask for the gift in this meeting at ALL. If neither you nor your staff teammate has met with this donor before and especially if the donor is unfamiliar with the project or initiative for which you need support, the ask should probably not occur in the first meeting.

Instead, use the first meeting to have a meaningful discussion with the donor about how they view your group’s work and their reasons for supporting it. You should also discuss the specifics of the project or need for which you are raising major gifts.

[As you set up the meeting, your team should communicate clearly that there will eventually be discussion about a gift from the donor that will be significant to them, but “First we want to be sure you know what our organization is doing, your questions are answered and you feel confident about how your gift would be used.”]

Now it’s time.
OK, let’s say you’ve met with the donor before, had a great discussion about the work of your nonprofit and what it means to them, and in the next meeting your team plans to ask them to consider a gift of a certain size.

As a Board Member playing a supporting role, how should you prepare for the meeting?

Research

Do your homework.
Work with your staff teammate to

get a record of the donor’s past giving to your organization;
understand your donor’s history with your organization, including any board service, volunteer work and in-kind donations; and
learn about gifts the donor may have given to other local or similar organizations.

Next month: How much to ask for
To help you anticipate next month’s post, here are the topic headlines:

Listen carefully to the donor – they may tell you
There’s no magic formula for the amount; just rules of thumb
Wealth Screening Services
First-Time Donors (even very wealthy ones)
Is it a problem to ask for too much? Too little?
Donors needing more time to respond
Donors pre-empting your ask – what to do

Remember…. As a board member, your job is critical. Your presence, your willingness to engage positively in the discussion, and your own example of giving as a leader of the organization will make the donor more likely to say yes to the major gift.

Stay tuned for next month’s discussion of How much to ask for.