From $25k to $300k Gift in 1 Conversation
Have you ever wondered how a donor goes from giving $10k or $25k a year to $200k or $500k?
This story is for you.
So, I'm in El Salvador on a bus. The driver doesn't speak English and I'm on my way to the airport.
On the bus with me is a donor... and her three kids. All under the age of 10.
We just spent 3 days touring housing communities built by the nonprofit I worked for called New Story.
I had a plan. I felt good about it.
Except, I was hoping to have it over breakfast.
She didn't want to get up earlier to talk about her gift and just said "Hey, can't we talk about it on the bus on the way to the airport?"
Yes. Yes, we can. ::insert nervous laughter::
So, we're on the bus and she starts out saying that she will give $25k this year and that she wants to get her family involved. She starts naming people she thinks should be involved and going on about what she would like to do.
That's all well and great, but I was planning to ask for $300k. 🫣
Now what?!
She stops, looks at me and I say...
"So, I had a different idea for you. Do you wanna hear it?"
She says "Yeah"
Looking her right in the eyes, I say "I'd like for you to consider giving $300k over the next 3 years starting this year. Not from cash, from appreciated stock."
She pauses.
She asks "$300k. Hm. So, how would that work?"
I explain how giving appreciated stock is the best way to give to charity.
She says "Yeah, I just learned about that this year actually. My CPA was telling me that's how I should give too."
I said "Yes, that's exactly right."
She said "I'll talk to my husband and consider it. Thank you for a great trip."
Here's what followed, I sent her:
· Projections for our impact and numbers in the coming years the same day
· 1 week later - followed up over email (short and sweet)
· 1 week later - followed up again
· 1 week later - followed up again
3 weeks after I asked, she said YES to $300k over 3 years, starting the current year.
So, how did I know to ask for $300k?
And how do you know if it's the right move to do this?
A few things to take into account when coming up with how much to ask for and if you should negotiate:
1. Relationship - Do you know this person? Do they know you? Do you trust them? Do they trust you? Do you know about their life enough to be able to challenge them?
2. Passion - Are they passionate about your work and mission? Passion is defined as what you would be willing to sacrifice for.
3. Capacity - Do they have the money? Keep in mind, 90% of wealth is non-liquid assets. This is key to raising 6 and 7-figure gifts.
Relationship and Passion matter more than Capacity.
You can easily get distracted by someone's wealth and think you should prioritize them, but if there is no relationship or passion, you're wasting your time.
How do you evaluate the relationship and where you stand with a donor?
How do you know if you can turn $25k into $300k in one conversation and 3 emails?
You can learn to do this.
And it will change the entire trajectory of your career.
This is what I teach my 1:1 Million Dollar VIP clients.
Together we create a completely customized major gifts strategy, communication suite and ongoing implementation support with me as your coach and mentor to close your largest 6 or 7-figure gift in 6 months, so you can reach and exceed your goals for growth and expansion.
Interested to learn more? Click here
Psst! Want to dive deeper into the art of asking for more from donors? 🎙️
Check out one of our latest episodes on The Nonprofit CourageLab Podcast where I break down some of the roadblocks involved in the process. Learn how to have those courageous conversations that lead to game-changing gifts. Tune in now -
