Remember Aesop’s fable, The Lion and the Mouse? It’s a timeless story that teaches us how acts of kindness can come full circle in unexpected ways. But what if I told you this simple fable also holds a profound lesson for us in the world of fundraising?
Let’s explore this idea through a real-life story that recently made headlines. It all began with an early morning flight in 2020 when Dr. Ruth Gottesman and Dr. Philip Ozuah found themselves seated next to each other. Their conversation sparked a connection that would later result in one of the largest charitable donations in recent memory.
The Lion, the Mouse, and a $1 Billion Gift
As The New York Times recounted in a recent article, Dr. Gottesman and Dr. Ozuah shared stories of their childhoods, their careers, and their mutual commitment to helping children and families in need. This connection deepened over time, particularly when Dr. Ozuah went out of his way to care for Dr. Gottesman and her husband during the early days of the COVID-19 pandemic.
Fast forward to December 2023, when Dr. Gottesman approached Dr. Ozuah with an offer of her own—a $1 billion gift to cover all future tuition costs for students at the Albert Einstein College of Medicine. Her motivation? To ensure that new doctors could begin their careers without the burden of crushing debt, and to broaden access to medical education for those who couldn’t otherwise afford it.
This act of generosity wasn’t just about the money. It was about solving a problem that Dr. Gottesman saw as critical: the financial barriers that prevent talented individuals from pursuing medical careers. It was also about honoring a relationship built on trust and shared values.
The Power of a Well-Crafted Offer
So what does this story teach us about crafting the perfect offer in fundraising?
Your offer is the benefit you promise to your prospective donors in exchange for their support. It’s the value proposition that convinces them to contribute to your cause. But as Dr. Gottesman’s story illustrates, the most compelling offers are those that address a real and pressing problem.
In her case, the problem was the financial burden of medical education. The solution? A transformative gift that would eliminate that burden for future students. This offer was powerful not just because of the dollar amount, but because it was tied to a deep understanding of the needs and values of the donor.
Crafting Your Offer: Three Key Steps
As you take your Big, Hairy, Audacious Goal (BHAG) into the donor marketplace, remember these three critical steps:
- Identify the Problem: What issue are you addressing? Ensure it’s a problem your prospective donors care about.
- Propose a Solution: How will your organization solve this problem? Your solution should be clear, actionable, and compelling.
- Craft Your Offer: What benefits will your donor receive in exchange for their support? Make sure your offer is aligned with their values and the impact they want to make.
By following these steps, you can create an offer that resonates with your donors and inspires them to take action.
Looking Ahead: The Most Important Element of Your Fundraising Pitch
As we continue to explore how to bring your BHAG to life, we’ll dive into the three essential components of any fundraising pitch: your offer, your creative, and your list. And next week, we’ll reveal which of these is the most important of all.
Until then, remember that acts of kindness, like those shown by Dr. Ozuah, can build the trust and relationships that lead to transformative gifts.
