This is the first post in a 4-part series on “Why the Healthcare Sector Has to Focus on Major Gifts Now!”
We have been working with the American Cancer Society (ACS) for over three years now. In that time, they have doubled mid and major gift revenue. One day, I’ll write in detail about how they did it, but the big point is that a few years ago they realized they need to invest in major gifts, got leadership to embrace the concept, and had the will and determination to get it done.
ACS had been heavily reliant on direct-response, event, and peer-to-peer fundraising for a vast majority of their contributed revenue. Thankfully, they had internal champions who knew they needed to diversify their revenue streams.
These leaders gathered support across the organization to make this change, unknowingly right before the COVID-19 pandemic occurred, and their foresight and determination has led to incredible and enviable growth for their organization.
Their story is what inspired me to write specifically to all healthcare-related charities. Now is the time to start focusing on mid, major, and planned giving.
I’ll be blunt: your health-related organization is way too reliant on transactional fundraising. Or maybe you don’t even focus on individual fundraising at all. I’m not alone in this thinking. Go on the website for the Association for Healthcare Philanthropy and read the many articles imploring its members to start focusing on raising major gifts from individuals, reduce the number of events, and move beyond just relying on direct-response, and/or peer-to-peer fundraising for most of your revenue.
Now, I want to make it absolutely clear that we are not against any of those types of fundraising. But the amount of resources, investments, and energy on them is overly skewed versus the investment in mid, major, and planned giving.
It’s even more perplexing to Richard and me why more healthcare charities are not making more of an investment in mid, major, and planned giving, when we know donors want to give beyond their transactional gifts.
How do we know this? Because every organization (not just the American Cancer Society) that we have worked with who is either heavily cultivated by direct-response, peer-to-peer, or events fundraising – we’ve seen them greatly increase their net revenue after creating or investing in major gifts.
Why? Because the organization is finally allowing donors to give at those levels of giving. Wait, what? “I don’t get that Jeff. What do you mean, allowing?”
We see this in almost every health charity data assessment we conduct. There are massive numbers of donors giving the same amount every year, whether it’s $1,000 or $5,000. No one is cultivating these donors. So, the donor, who loves the mission, just gives at that amount… year after year, after year.
Then finally, someone reaches out to them, gets to know their passions and interests, starts communicating with the donor as they requested, and then presents compelling offers based on the donor’s interest in the charity’s priorities.
Guess what happens? A $200,000 gift comes in from a previous $1,000 a year donor! It’s like unscrewing a bottle cap from a shaken-up soda bottle. Donors start giving to their potential.
It’s amazing what happens when you start talking to your donors. First, they will be in shock. I cannot tell you how many donors tell mid-level officers something like, “In all my 20 years of giving, I’ve never had anyone call me!”
By focusing on and investing in mid, major, and planned giving today, you will be setting up your organization for long-term growth.
If the American Cancer Society hadn’t decided they needed to change course, they would be losing tens of millions of dollars in revenue. Revenue that is going straight to cancer research and care. But, not only that; they’re also now set up for raising hundreds of millions in the years to come.
You can do this too. Do you have the will and desire to change the current path of transactional fundraising and move to transformational? The American Cancer Society did it, and I know you can too!
Jeff
Other Blogs in the “Why the Healthcare Sector Has to Focus on Major Gifts Now!” Series:
- Healthcare Non-Profits Must Diversify Their Revenue Streams (this post)
- Moving Beyond an Events-Based Fundraising Model
- You’re Bleeding Donors and Dollars!
- You Need to Take Your Own Medicine
Related Posts
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Moving Beyond an Events-Based Fundraising Model
February 28, 2022
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You Need to Take Your Own Medicine
March 4, 2022
-
You’re Bleeding Donors and Dollars!
March 2, 2022
As me my inspiring bears on ours kids who learn English language in the unhealthly environment that is to say only straw like office and classroom in which our kids sat on the benches and so writing on their calves exposed to wind, rain and any other unhealthly aspects.
Obviously, there has been lack of didactic materials including qualified teachers .
Afterwards, a group of English teachers are obliged to create an Association in order to get English promoted in our area and so looking for the partners which can help us to mitigate the above problem cited.
Altogether, the struggle is hard nevertheless we are going on that in view to reach out our goal.
Thanks to give us to express ourselves on our situation lied on the struggle against cancer.
Then we are those ones who are looking for the revenue to improve our working conditions and so building a good English framework for our kids