Only 5% of your time should be spent on soliciting major gift donors. Just to be crystal clear, each of those asks must happen or everything else will be for naught.
Another 15% of your time should be devoted to identifying and qualifying. For those newer to fundraising, “qualifying” is the industry standard term for determining CAP© – whether they have the combination of financial capacity, affinity for your mission, and philanthropic inclination to make a gift to your organization.
That means that the other 80% — more than three-quarters of your time — should be dedicated to cultivating and stewarding.
This was part of a Major Gifts Master Class on Wednesday during the Bridge To Integrated Marketing And Fundraising Conference in National Harbor, Maryland. Presenters were Martha H. Schumacher, CFRE, ACFRE, MInstF of Hazen Consulting and the Hazen Institute for Leadership Training and Grace Hong of MedStar Georgetown University Hospital.
The overarching goal is to create a cultivation action plan – your moves management steps – for the coming year and then to work the plan. One more thing about the worksheet: the piggybacking opportunities section refers to events or program moments your organization already has on the books, which can become meaningful touchpoints for your donors.
Because both cultivation and stewardship are all about relationship building, you might be wondering what sets each apart. Cultivation takes place right before the solicitation, while stewardship occurs after it.
The two have a symbiotic relationship that far exceeds the sum of their parts.
Your cultivation steps brought the donor to a place where the “ask” was not only not a surprise but anticipated and welcome. It is now time to steward that donor in recognition of their generosity and in preparation for, you guessed it, cultivating their next gift.
When executed thoughtfully and intentionally, this powerhouse combo is ultimately a multiplier, resulting in greater financial stability to propel your crucial mission moving forward.
