Your nonprofit needs a steady stream of new major donors if it wants to grow and thrive. In this article, I’m going to show you how to find major donors for your organization without wasting time or money on ineffective strategies.
While there are many ways to find new donors, three primary strategies stand out for most nonprofits looking to build a major donor prospecting program. Here’s how to find major donors for your organization:
1. Find Major Donors in Your Own Donor Database
The best place to start your search for major donors is within your own donor database. Did you know that some of your current mid-level and low-dollar donors likely have the capacity to become major donors?
Begin by researching the giving capacity of your current donors. You can use a wealth screening tool or intuitive methods such as analyzing where donors live, work, or engage with your organization. Your goal is to create a list of donors who have the capacity to give at the major donor level but currently do not.
Once you have your list, invite these donors to upgrade their gifts by giving more this year than they did last year. Remember, to encourage a donor to upgrade to a major gift, you’ll need to treat them as a major donor. This means prioritizing personal contact (phone calls, meetings, and video chats) to deepen the relationship with the donor before making an ask for an upgraded gift.
When learning how to find major donors, always start with this “low-hanging fruit!”
2. Ask for Referrals
Another effective strategy to find major donors is by asking your current major donors for referrals. Many of your major donors already work with, socialize with, or live near other people who have major donor potential and might be interested in your cause.
One of the best ways to discover new major donors is to ask your current donors to introduce you to prospective donors. This process is known as “asking for referrals.” Keep in mind that most donors won’t make referrals unless you ask them. Sit down with your donors and ask, “Who else do you know who might be interested in our mission?” If they’re willing to share names, request their help in making an introduction—whether in person, at an event, or via email.
Once a donor provides a referral, it’s up to your staff and board to cultivate the new prospect and build a relationship to determine if your nonprofit aligns with their philanthropic goals.
3. Hold Introductory Events
The third strategy for finding major donors involves hosting introductory events, sometimes called non-ask or point-of-entry events. As the name suggests, these events are not about asking for money. Instead, they’re designed to introduce your nonprofit to new prospective donors and spark their interest in your mission. Following the event, your team should follow up with each attendee (within a week) to continue building the relationship.
These events can be held at your office, a board member’s home or workplace, or a local venue. The key to success is asking supporters—such as donors, volunteers, community leaders, or board members—to co-host the event and invite 2-4 friends to join them.
Introductory events don’t need to be large to be effective. Hosting just 5-10 major donor prospects in one room to hear about your mission (followed by timely follow-up) can have a significant impact on your development program.
Leveraging Relationships to Find Major Donors
For most of these strategies, your nonprofit is leveraging its existing relationships to uncover new prospects. This approach is particularly effective because cold prospecting for major donors can be challenging. While direct mail or online campaigns may work well for acquiring low-dollar donors, they are less effective for securing major gifts.
By upgrading current donors, seeking referrals, and inviting people to non-ask events, your organization is transforming existing relationships into new opportunities. This proven strategy will help you find major donors and strengthen your nonprofit’s financial future.
