How to Ask for a Major Gift Jeffery L. McLain, CFRE Vice President for Development LSU Foundation Oc

1
How to Ask for a Major GiftJeffery L. McLain,
CFREVice President for DevelopmentLSU
FoundationOctober 19, 2007
MOVING FORWARD
2
At the end of the session

• Get ready to make the ask. . .

3
What is Fundraising?

• You wont get milk from a cow by sending a
  letter. And you wont get milk by calling on the
  phone. The only way to get milk from a cow is to
  sit by its side and milk it.
• Si Seymour

Fundraising is relational. And it takes time.
4
Relationships Require Time

• Without the investment in time, fundraising will
  degenerate into a series of shakedowns in
  which the easy money is taken and the building
  of relationships is neglected. (slash burn
  fundraising)
• The industry average is nine meaningful
  contacts before a gift is made.
• 18-24 months usually required from first visit to
  a gift.

5
When is it Time to Solicit?

• The solicitors understand the prospects
  interests
• The prospect is actively engaged with the
  institution as a volunteer, an attendee and an
  annual donor
• The prospect trusts the director, development
  officer and the institution
• The prospect understands the case for support
• The prospect asks How can I help?

6
Know Your Prospect

• Know where their heart is
• Know their motivation
• Know the exact amount for which to ask
• Know who should be involved in the solicitation
  meeting

7
Your role with a donor

• Articulate the vision, opportunity
• Why philanthropy is important
• Listening to the donor

• ASK

8
The Five Steps of an Artful Ask

• Step One - The opening
• Step Two - The involvement
• Step Three - The discussion
• Step Four - The ask
• Step Five Follow up

9
The Opening

• Establish rapport
• State the purpose of the visit
• Bestow praise
• Be enthusiastic and positive

10
The Involvement

• Describe the case for support
• Describe how people will benefit from your
  programs remember institutions dont have needs,
  people have needs

11
The Discussion

• Get the reaction of the person to the elements of
  the case
• Listen carefully and respond thoughtfully
• Answer questions and address concerns

12
The Ask

• Look the individual in the eye
• Ask for the gift We would like you to consider
  making a commitment in the range of
  100,000-125,000 over the next five years to
  endow a scholarship in your familys name.
• Shut up!
• Answer any objections
• NEVER leave a pledge card without the commitment
  first!

13
Master the Message

• If you have never asked . . .practice.
• Write down your words. . . practice.
• Phrases like
• we would like to have a conversation
  with you about.
• your charitable investment in us will..
• you are a partner in our success.
• Thank you are two powerful words

14
Cure Askophobia

• Three answers to an ask
• - Yes. Yippee.
• Maybewith work can turn that to a yes
• Nowith work can turn that to a maybe
• You are asking on behalf of your institution. Do
  not be ashamed or afraid of that.

15
Follow Up

• If they say yes, get the information from them
  that you will need for a gift agreement
• Schedule a return appointment within a week to 10
  days if they need more time to consider the
  request
• If they say no, determine the reasons and the
  next steps

16

• Large donors give
• to heroic, exciting
• programs rather than
• to needy institutions.
• Large gifts go to
• the institutions with a sense of destiny.
• Jerald Panas

My U.
17
Understand your giftsource
18
LETS GO
Alice Would you tell me, please, which way I
ought to go from here? Cheshire Cat That
depends a good deal on where you want to get
to. Alice I dont much care where Cat Then
it doesnt matter which way you go. Lewis
CarrollAlices Adventures in Wonderland
19
Tell it Like it is

• Whats your 30 Second Mantra?
• Step Up to Major Gifts
• Lets practice. Think abouta gift that would be
  important to your institution right now.

20
Lets Ask