This document provides a 7-step strategy for raising money from high net worth individuals. The steps are: 1) discover suspects, 2) research prospects, 3) introduce yourself, 4) cultivate relationships, 5) ask for a gift, 6) thank donors, and 7) maintain the relationship. It also emphasizes the importance of leadership donors to influence others and push average gift sizes up through their networks. Researching prospects thoroughly and developing a strong case for support are also highlighted as critical success factors.

1. Raising money from High Net
Worth Individuals
Simon Burne
August 2010

2. • Major donor fundraising is just as much about
the donor as it is the project
• You don’t need bricks and mortar
• People make this more complicated than it
needs to be!
• Knowing what to do; deciding what to do;
being disciplined = success!
• 7 Steps & Moves management are all you
need.

3. • More professionals and fewer volunteers
• Increasingly volunteers cultivate &
professionals ‘close’
• Higher expectations
• Doing more with less
• Involved in higher solicitations

4. Challenges Good News
• Multi-year pledge • Still giving
reluctance • Relationships and
• Economic environment Leadership counts
uncertainty • Stewardship is key
• Foundations stretched • Trust and confidence in
• Corporations dropping your organisation is key
out • More potential donors
• Everyone is doing it!

5. Seven Step Strategy

6. Seven Step Strategy PLUS
Leadership
Role
1. 2. 3.
Discover Research Introduce 5.
Ask
Suspects Prospects
7.
Maintain 6.
Thank

7. Some rules of thumb
• Ten suspects will yield one prospect
• Seven prospects will yield one gift
• 50% of major donors will give again

8. How many donors do I need??
Gift Size Number Value
Donors
£5m 1 £5m
£3m 2 £6m
£2m 4 £8m
£1m 6 £6m
£100k-
£1m 20 £5m
Total 33 £33m

9. How many donors do I need??
Assumptions
Prospect Conversion 8 to 1
External Conversion 25 to 1
Prospect Research
Wealth Band Matches Conversion Gift Level Total
£50m+ 2 0 500,000 125,000
£25-50m 6 1 250,000 187,500
£10-25m 10 1 100,000 125,000
£5-10m 112 14 50,000 700,000
£1-5m 768 96 10,000 960,000
Influential 355 44 10,000 443,750
Total 1253 157 2,541,250

10. Critical success factors
• Powerful Case for Support – just what do you
want the money for?
• Excellent research
• Excellent cultivation
• Making the ask
• Loving your donors
• Asking again

11. Finding your prospects

12. Developing a Prospect Hypothesis
• Describe the sorts of people who:
• Have the right levels of wealth
• Have evidence of philanthropy
• Have some connection to the cause
• Are active in fields other than their work
• Have business interests whose brands fit
with you

13. Researching your prospects
• Start with your database – they already love
you!
• Use research companies or employ a
researcher
• Use all published information
• As names come up, ask your trustees and
existing supporters if they know
them

14. Cultivation
• How to meet them?
• Go where they go
• Hold an event they would like
• Use celebrities
• Ask for a meeting
• Events
• Staff well
• Brief and debrief fully

15. Cultivation
• Assign a staff member to each MD
• Provide them with the information they ask
for
• Invite them to a project visit
• If they come, you’ve got them!

16. The ask
• Many volunteers hate this
• Best done by a professional
• Know the right level of ask
• If in doubt, ask them

17. Follow up
• Thank
• Inform
• Involve
• Report
• Surprise
• Celebrate

18. What is leadership?
• Wealthy donors influencing other wealthy
people to give
• Wealthy donors who will use their networks
• People will follow leaders – lead gifts are
critical
• Big donors will push average gifts
up – small donors will push
average gifts down

19. Secrets of a Leadership Forum
• Excellent Chair who has made a big gift
• Clarity of purpose
• Clarity of targets
• Time limited
• High-powered
• Exclusive