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As the recession eases it will be time to consider rehiring staff members. Which one will make the most difference to the bottom line? I suggest you make room for a major gift officer. Here’s what s/he can do for you:
1. Keeps up to date. Stays abreast of legal and technical developments in the
different vehicles of major giving through workshops, seminars, conferences
and publications; remains conversant with the organization and the field of
service in general.
2. Provides general information on major giving. Initiates informational mailings
to friends; responds to inquiries; speaks to interested groups.
3. Identifies prospective donors. Determines where to spend time to the best
advantage; researches respondents to mailings or those who come to the major
gift officer’s attention through referrals or direct inquiry. Maintains an effective
record system and an efficient follow-up procedure to ensure that all contacts
receive appropriate attention.
4. Develops the prospect’s interest and commitment. Patiently but persistently
cultivates the prospect through correspondence, phone calls and personal
visits, both by the major gift officer and other officers and volunteers.
Answers the prospect’s questions, keeping the prospect mindful of the organization
and its programs; gains the prospect’s friendship and trust.
5. Determines the feasibility of various contribution options. Elicits information
about the prospect’s assets and needs and chooses the most appropriate option
available; considers the major gift program as a part of the total development
picture and remains open to the possibility of deferred as well as current gifts.
6. Prepares the ask. Commits the plan to paper in a manner that is both convincing and understandable to the prospect, and the prospect’s agents if
necessary.
7. Closes. Discusses, clarifies, and possibly modifies the plan to meet the
prospect’s approval; gains the prospect’s endorsement.
8. Ensures that arrangements are properly executed. Oversees and initiates
arrangements through the proper business office channels and communicates with the prospect about them.
9. Maintains the commitment of the donor. Ensures that the donor retains
confidence in the college and in the wisdom of the decision to make a
major gift; keeps the donor informed of developments at the organization
keeps the donor open to the possibility of another gift or referrals to
other prospective donors.
A pretty good return on investment! When searching for a gift officer it may help to use a seasoned fundraising professional to help you find one or interview your prospects. From my personal experience it is very helpful to hire a consultant to mentor a new major gift officer.