Love this book! Highly recommended for people raising major or principal gifts. I bought one for each member of my fundraising team and the non-fundraising leadership.
Written in 1984, this is a very fast and readable book for fundraising professionals. Panda has lifelong experience with fundraising and gifts and conducted his research through interviews of over 50 men and women who were mega gifters (who gave over $1M—over $2.6M in 2022), as well as survey responses from 1,000 fundraisers. Rich, time-tested advice and practical wisdom are consistently touched upon and are summarized and complemented at the end with the top 65 tenets of fundraising. Understanding the motivations and reasons for giving is essential for any who work in this profession as I do.
This book is a must read for anyone involved in the fundraising process. Including professional fundraisers, program staff, board members, and volunteers.
This is only the second book on fundraising that I’ve read, but it seems like telling stories about real-life donors is central to these types of books. The last one I read was full of these types of stories, and this book was no different. Usually a story is told, and then there is some principle the reader can learn from the story so that the anecdote can have a life application for the reader.
Here are some interesting notes from the book (keep in mind that this book was published in 1984):
-1/3 of an organization’s donations come from their Top Ten donors. The next third comes from the following 100 donors.
-80% of donated money that comes in during a campaign comes from 20% of the organization’s donors.
-It’s not good for an organization to stress their great financial need because, “donors run away from ‘needs.’ They hide from the institution that is not financially stable. Large donors give to heroic, exciting programs rather than to needy institutions” (page 35).
-“Giving is a habit. Very seldom does someone make a significantly large gift to an organization without the prior experience of giving to that institution. And almost never will that large gift be his last, but will almost certainly be followed by many others – often of increased size” (page 53).
-Benjamin Franklin was the first person to come up with the idea of a “matching gift.”
-It’s important to actually ask for a gift, and not assume that a donor knows the organization’s needs and will give without a request.
-“Women live longer than men,” and it is said that “no one lives longer than a widow who has named your organization in her will” (page 91).
-“Don’t sell what you want. Sell what they want” (page 116).
-“An organization is measured by its consuming objectives, and by the zeal with which it regards its ultimate mission” (page 134).
-Many donors have experienced the phenomenon of 'the more you give, the more you get' (page 153). In some cases, they are making so much money that they have no time to do research in order to give the money away thoughtfully and carefully. Also, there is a deep joy that comes from giving (page 159).
-Towards the end of the book, the author lays out 65 tenets for successful fundraising (pages 172-198). I thought this was a short list at first, so I started typing each tenet out. When I realized that there were 65 things on the list, I stopped typing. It’s OK, though, because these 65 things are mostly a summary of the entire book. Here is the list I was able to type out before deciding that I didn’t want to type out 65 items:
-Do not say “no” for anyone. -Giving by living men and women outstrips every other form of philanthropy. -Individuals give emotionally, not cerebrally. -The “Rule of Thirds” is a canon that has persisted since the earliest of fund raising programs. -Almost without exception, husbands and wives together will discuss their major philanthropy. -Seeks ways that you can involve both the husband and the wife in the program and activities of the institution, even though only one of the partners demonstrates an obvious interest. -I find no clear evidence that the spirit, passion, and dedication to philanthropy is passed on from one generation to the next. -A mega gift comes from an individual who has the resources to make it. That states the obvious. In the case of many such donors, it is harder to get an appointment than it is to get the gift itself. -A very good friend is quite often not the best person to make a solicitation – although he or she may be the best to make the appointment.