If you’re seeing an abundance of acorns this year, you’re not alone. Where I live, acorns are covering everything. It’s what’s known as a “mast year,” where oak trees produce an unusually large crop of acorns. These years don’t happen often, but when they do, it’s hard to miss the impact.
The conditions have to be just right for a mast year, much like they do for a successful fundraising season, especially when you’re going after mega gifts. As we continue our exploration of the 14 Steps of Successful Mega Gift Fundraising, let’s consider whether the conditions are right for your organization to experience its own “mast year.”
Step #6: The Importance of Due Diligence with Your Donor
Now, we’re at a critical juncture: due diligence. Just as an oak tree needs the right conditions to produce a bumper crop of acorns, you need to ensure the conditions are right before introducing a mega gift concept to your donor.
The Two-Step Self-Assessment
Before approaching your donor with a mega gift proposal, it’s essential to conduct a thorough self-assessment. Here’s how:
- Current State Assessment: Start with an honest evaluation of your relationship with the donor. What big societal problems do you believe the donor wants to solve? How well is your organization positioned to address these issues?
- Envision the End State: Imagine the donor has said yes. What would a press release announcing their mega gift look like? Write it out. This exercise helps you clarify the donor’s potential impact and the significance of the gift.
But self-assessment isn’t enough. You need to validate your assumptions with the donor.
Asking the Right Questions
To ensure your self-assessment aligns with the donor’s perspective, ask them directly. Here are some questions to consider:
- What are the most urgent societal threats today? Which ones concern you the most?
- What are the top problems you’d like to see addressed?
- What do you think our organization does well? Where could we improve?
- If you could help solve one societal problem in your lifetime, what would it be?
These questions aren’t just for a casual conversation. They’re for deep, thoughtful discussions that will help you and the donor zero in on the biggest problems they want to solve.
Engaging the Donor Thoughtfully
When asking these questions, timing and preparation are crucial. Don’t rush into them during a meeting. Instead, send the questions in advance and give the donor time to reflect. You want to encourage thoughtful, personal answers that will guide your approach to the mega gift proposal.
Sometimes, you’ll need to get creative to draw out these insights. A light-hearted approach can sometimes break the ice, as in the story of the donor who only gave “two martini answers.” By meeting her on her terms (and bringing along plastic martini glasses), a meaningful conversation was sparked.
The Big Takeaway
Due diligence isn’t just about preparing yourself; it’s about preparing your donor to engage deeply with their philanthropic goals. By asking the right questions and setting the stage for thoughtful responses, you lay the groundwork for a successful mega gift proposal.
