Whether you hope to inspire a new donor to support your nonprofit or need to check in with one of your regular donors, it’s important to prepare for your time together and to focus on listening and learning, rather than just talking and informing.
The Chronicle spoke to several nonprofit leaders and major-gift fundraisers about how to use time with wealthy donors to get to know them — and their charitable goals — better.
Do Your Homework
“These people do not have a lot of time and they’re getting calls from all these other groups, so it’s important to be respectful of their time by preparing ahead of time,” says Kay O’Dwyer, a senior major gifts officer with Boston Ballet.
Before you head into a first-time meeting, here are some steps the experts advise taking:
- To get a sense for their philanthropic interests, try to find out which charities the donor has supported, says Ms. O’Dwyer.
- Get as much biographical information as you can beforehand, says John Russell, senior vice president of development at the Georgia Aquarium.
- If the donor serves on a nonprofit or corporate board with someone you know, ask your acquaintance about the donor’s motivations and interests. And call others in your network to find out if they know anything about the potential new donor and his or her philanthropic priorities, suggests Robyn Nebrich Duda, director of the Barrow Neurological Foundation.
- Find out if the philanthropist has talked to or knows someone within your organization, Ms. Duda adds. If they do, invite that person to join the meeting.
If you’re dealing with a donor you’ve met before, review your notes from those conversations to refresh your memory about the donor and what was discussed, says Lynette Marshall, chief executive of the University of Iowa Foundation.
Consider the Donor’s Motivation
Figure out what type of donor you are dealing with by asking yourself a series of questions, says Mark Stuart, president of the Foundation of San Diego Zoo Global.
- What does the donor care about, and how might that fit into your group’s work?
- Does she see herself as an investor or part of a philanthropic dynasty?
- Does he give because he’s religious, or does he have an altruistic bent?
- Do they feel a responsibility to give back because they’re wealthy, or are they community minded?
If you don’t know the answers, says Mr. Stuart, spend some of your meeting listening for clues and asking questions about charitable motivations.
Ask Questions and Listen Well
Asking questions and listening closely to a potential donor’s answers is of prime importance, say experts.
“One of the biggest mistakes big-gifts officers make is they think they have to lead and carry the conversation,” says Ms. Nebrich Duda. Listening to donors is really important, she adds.
During a face-to-face meeting with potential, new, or longtime donors, it is important to ask them what they find appealing about your organization’s work, and then figure out which activities speak to their interests, says Laura Frye, a major gifts officer with Boston Ballet.
If you are new to the organization, says Katrina Foster, Boston Ballet’s director of individual giving, resist the urge to prove to a longtime donor that you know a lot about the nonprofit. Instead, listen to what the person has to say about your group’s work and why he or she has continued to support it.
Leave Time for Their Questions
Part of listening to your donor is giving him or her the time and space to ask questions, says Ms. Frye, and it is okay if you don’t have all the answers.
“I’d rather say, ‘I don’t know but let me find out for you,’ than pretend I know something I don’t,” Ms. Frye says.
Keep the Interest Alive
Update the donor on how previous gifts have helped your nonprofit carry out its mission. Or, if you’re meeting with a first-time or a potential donor, describe how others’ gifts have helped, suggests Ms. Marshall of the University of Iowa Foundation.
Experts say age sometimes matters, and people in certain age groups may prefer different types of updates about how a gift is helping a nonprofit carry out its mission.
Ms. Duda says that donors in their 50s and under tend to think of their donations as investments, much more so than donors in their 60s or older, so she recommends showing these donors exactly where their money is going and which goals are accomplished as the money is spent.
Those in their 50s also like experts in the room, Ms. Duda says, and she suggests including those people in the meeting. For example, if your donor is helping support scientific research, ask some of the scientists involved in the project to join you.
In contrast, she says, older donors are more interested in the bigger picture so, be prepared to provide them with a long view of how a gift helps your organization over time.
Regardless of age or whether a donor is a new prospect or a longtime supporter, the basic tenet of good face-to-face fundraising, says Ms. Marshall, is doing everything you can to create and sustain an authentic relationship.
