1 Minnesota Planned Giving Conference Getting the Next and Bigger Gift Susan C. Dunlop Gary G. Hargroves Gary G. Hargroves 1:45 – 3:00 pm, November 2, 2010 St. Paul RiverCentre

2 The Next and Bigger Gift Prospect Easiest Gift To Raise Is From Existing Major or Planned Gift Donors Easiest Gift To Raise Is From Existing Major or Planned Gift Donors Effective Use of Staff Time and Budget Resources Effective Use of Staff Time and Budget Resources Bigger Gifts Are Lost Due to: Bigger Gifts Are Lost Due to: Organizational Short-Term Development Focus Organizational Short-Term Development Focus Major and Planned Gift Donors Assigned Stewardship Major and Planned Gift Donors Assigned Stewardship Development Officers Choose or Are Encouraged to Move on to a New Prospect Development Officers Choose or Are Encouraged to Move on to a New Prospect

3 Determining Who Your Next and Bigger Gift Prospects Are The Ultimate Gift On Which You Will Work The Ultimate Gift On Which You Will Work Top Prospect’s Ultimate Gift Amount Top Prospect’s Ultimate Gift Amount Affinity Affinity Access Access

4 Definition of Stewardship is Key Means Different Things to Different Fundraisers and Organizations Means Different Things to Different Fundraisers and Organizations no longer a good prospect for a new gift or – no longer a good prospect for a new gift or – highest, professional level of donor cultivation highest, professional level of donor cultivation

5 Levels of Stewardship Event invitations Event invitations Birthday and holiday cards Birthday and holiday cards Stewardship reports Stewardship reports Gift officer who closed gift, reassigned Gift officer who closed gift, reassigned No gift officer assigned to donor No gift officer assigned to donor Personal visits dropped Personal visits dropped Risk loosing 99% of gift potential Risk loosing 99% of gift potential

6 Ultimate Gift Stewardship Thank donor personally for their gift Thank donor personally for their gift Learn more about donor’s legacy dreams for your organization, their lives, and their families Learn more about donor’s legacy dreams for your organization, their lives, and their families Obtain deeper personal information Obtain deeper personal information Assist with family issues blocking ultimate gift Assist with family issues blocking ultimate gift Understanding finances and estate plan Understanding finances and estate plan Increase involvement with advisors Increase involvement with advisors

7 Long-Term Relationship Building Invest time, energy and resources in long term relationships with those donors with the highest potential Invest time, energy and resources in long term relationships with those donors with the highest potential Focus on a manageable group of prospects, usually 75 or less Focus on a manageable group of prospects, usually 75 or less

8 Prospect Tracking Report Indicates Ultimate Gift Potential Indicates Ultimate Gift Potential Next Cultivation Goal to Be Achieved by a Given Time Next Cultivation Goal to Be Achieved by a Given Time Development Stage Development Stage Ultimate Gift Stewardship Ultimate Gift Stewardship “Discovering Your Legacy” Publication “Discovering Your Legacy” Publication

9 Long Term Donor Relationship Benefits Gifts Are Bigger and Raised in Less Time Gifts Are Bigger and Raised in Less Time Their Stories Are Powerful Illustrations of Leaving A Legacy Their Stories Are Powerful Illustrations of Leaving A Legacy Improves Charity Reputation of Trustworthiness and Credibility Improves Charity Reputation of Trustworthiness and Credibility Strengthens Professional Advisor and Donor’s Family Relationships Strengthens Professional Advisor and Donor’s Family Relationships Donor realizes Ultimate Legacy Dreams Donor realizes Ultimate Legacy Dreams

10 Another Benefit: Program Growth When Staff Exceeds Maximum Prospects Number When Staff Exceeds Maximum Prospects Number Opportunity to Hire New Staff Opportunity to Hire New Staff Hand-off of Prospects Launches Success for New Staff Hand-off of Prospects Launches Success for New Staff New Staff Bring Valuable Talents New Staff Bring Valuable Talents Organization is Trusted, Growing, Respected Organization is Trusted, Growing, Respected Solvency and Viability Achieved Solvency and Viability Achieved

11 Liabilities of Long Term Relationship Fundraising Gift Officer Can Only Work With 75 Families/Prospects Gift Officer Can Only Work With 75 Families/Prospects Organizations Need Dollars Now Organizations Need Dollars Now Focus on Long Term Gifts Counterproductive Focus on Long Term Gifts Counterproductive Managers Want Results Now Managers Want Results Now

12 Values About Stewardship Values About Stewardship in Sync with Organization’s Provides Career Satisfaction Values About Stewardship in Sync with Organization’s Provides Career Satisfaction If Values Differ From Organization’s, Code Major/Planned Gift Donor Status as Cultivation If Values Differ From Organization’s, Code Major/Planned Gift Donor Status as Cultivation Differing Values Is A Serious Dilemma Differing Values Is A Serious Dilemma