Myths and Misconceptions about Major Gifts: Interview with Gail Perry

Gail Perry and I met over a decade ago when I saw her present at an AFP conference. Like me, Gail is an expert in the areas of major gifts, capital campaigns (see the interview!) and board members. Visit her website for excellent tips on those topics. It’s always fun to chat with her and learn from her.

Interview Highlights

As always with interviews, I’m posting the highlights in the text below. For all the tips from Gail, you’re gonna have to watch the video! But you can get the gist below.

Major Gift Misconceptions: Relationships with Prospects

AE:   AE: What are some of the myths and misconceptions around raising major gifts?

GP:   One of the things that I find is that people think they can handle a large number of prospects. At large organizations they have 100+. But the people who narrow it down to about 20 — they are the ones who are raising big money.

AE:   I’m so happy to hear you say that — I always say 20 prospects! I completely agree! It is a big myth that you need a big list to be successful at raising major gifts.

GP:   Let me tell you about my mentor from Duke University — major gift fundraising is like spinning plates on a stick. You can only spin so many plates. The Pareto principle is that you get 90% of your dollars from 10% of your donors, but I’m seeing numbers more like 95% of money from 3% of your donors.

Let me tell you another misconception … this is my new word in fundraising. My new favorite word is “nurture.” The whole idea of nurturing is a great concept, so people understand it’s not so high pressure.

AE:   Nurturing is a nice word to talk about building relationships. I like the analogy of how to stay in touch with a friend or an aunt who lives out of state.

GP:   Nurturing is not pushy.

Major Gift Myths: Asking and Impact

AE:   What’s another myth or misconception?

GP:   People think “asking” is a really big deal in major gift fundraising. Instead of focusing on the ask, let’s focus on the relationship, so the donor says “how can I help you?”

It’s so much more effective when you take your lead from the donors.

AE:   What’s another myth?

GP:   I’ve been resurrecting my MPI fundraising formula — Money, Project, Impact. What people forget is the impact. They ask for $100K for scholarships, but forget the impact, and that’s the romance.

When you’re in front of a donor, your energy is so important. You have to be happy, and excited about what you’re hoping to create!

AE:   Check out my recent post on optimism and its role in fundraising.

Another Myth: The Role of Board Members

AE:   What’s one final myth?

GP: Board members may or may not be helpful in an ask. Board members are not trained professionals. Sometimes they will talk too much, interrupt the donor, or even sidetrack the conversation.

The role of board members in asking is still very muddy! People have a lot of misconceptions about what’s appropriate and what’s not.

Watch the full interview for more words of wisdom from Gail.

Lastly, remember to check out Gail’s website at www.gailperry.com for more great tips and info about major gift fundraising.

Join the conversation. Let us know what you think of the issues Gail has raised and other myths and misconceptions around major gift fundraising.