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NEWS
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Major
Gifts: Be Bold In Asking!
A
recent edition of the San Francisco Chronicle contained a front-page
article about Dede Wilsey, a prominent Bay Area philanthropist who was
responsible for raising the lion's share of the $190 million for San Francisco's
new de Young Museum. I quote from the article:
"Dede Wilsey sidled up to Steven Read several years ago at a party at
Mondavi's Napa spread and broached the subject of a donation for the new
de Young Museum. He asked her to send him some information. She told him
flat out that wasn't her style and pitched him right there.
"'I know you care about art,' Wilsey recalled telling Read, a fellow museum
trustee. 'You must care about the museum. We need to rebuild it. I know
you have money, and I need some of it.'
"Read pledged $1 million on the spot. Wilsey thanked him, said she'd confirm
the gift in writing the next day and strolled over to museum director
Harry Parker. 'Harry,' she said, 'this is going to be easy.'"
What lessons might nonprofits large and small that are planning to solicit
major donor prospects learn from Ms. Wilsey's plan of attack? Three come
to mind:
- Know
your prospect's capacity. Ms. Wilsey asked Mr. Read for a specific amount
of money. She did not pull the $1 million figure out of the air. Rather,
based on her relationship with Mr. Read as a fellow museum trustee and
philanthropist, she knew that he had the capacity to make a seven-figure
gift. If you don't have access to such anecdotal information, there
are tools available to do research on individual donors.
- Know
the approach that will work best with the prospect. Ms. Wilsey knew
that Mr. Read would appreciate the "no nonsense, put up or shut up"
approach. Note that this approach worked well with Mr. Read but might
not be appropriate for other prospects. Does your prospect like the
hard-hitting approach or the more oblique, "long-white-glove" manner?
Be alert to the way in which the prospect would like to be solicited.
- Thank
the prospect-who is now a donor-indicate that you'll confirm the gift
by letter the next day, and be sure to send the confirming letter. In
fundraising, the devil truly is in the details. Confirmation of the
gift by letter may seem screamingly obvious, but too many nonprofits
fail to take this crucial step and then wonder why the promised gift
never showed up.
A
later encounter between Ms. Wilsey and Mr. Read documented in the S.F. Chronicle
article affords us a fourth lesson: be bold. To quote from the article:
"After the museum was built, Wilsey noticed a small seating area near the
second-floor American gallery bearing Read's name. The seating area hadn't
been on the blueprints or named. She informed Read, the museum's building
committee chairman,that it would cost him $1 million more.
"'You are incorrigible,' Wilsey recalls Read telling her with amused exasperation.
She suggested he make the extra gift in his beloved mother's name. Read
gave in, naming the space in honor of his children and their spouses."
Be bold, be specific, and be appreciative, and you will prevail in your
major gift efforts!
Copyright
2007 Zimmerman Lehman.
This information
is the property of Zimmerman
Lehman. If you would like to reprint this information,
please see our reprint
and copyright policy.
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