Should I Swing For the Fences?
Here I was, sitting with generous givers of my cause, Don and Lois. Grateful for the warm strong relationship we had built over time, it seemed like now was the right moment to invite them to do more. Don and Lois were currently giving an annual gift of $25,000. However, in doing research on a database called WealthEngine, it looked to me like they had substantially more capacity. The amount I would ask for that evening was significant. $200,000. Why was I ‘swinging for the fences’?
I recall the look on Don’s face when the amount was revealed. He smiled and said, “Hey, did you search for us on one of those wealth databases?” Somehow I knew this needed to be a moment of truth and didn’t hesitate to say yes.
"Can you pull up our profile right now?", he asked.
We reviewed it together, then Don responded by saying, “It’s about 50% correct.” He continued, “J.Paul, in the future you can just talk with us about it.” What a gracious response. Don explained to me that Lois’s family, who were billionaires, had assets which Don and Lois currently had no access to (multiple charitable foundations, publicly held stock, real estate, etc.). Don went on to suggest that while they didn’t have the capacity to give $200,000 right now, they were willing to look at increasing their giving.
Here is what I hope you will remember from this story:
The strength of my relationship with Don and Lois was key. Because of our journey together, I knew much of their story. Our enduring relationship allowed them to tolerate a ‘stretch ask’. In hindsight I realized that ‘swinging for the fences’ without the foundation of a strong relationship might have stilted their willingness to consider increasing their giving. In the end our relationship was able to survive my approach. We laughed over my stumble, and Don kindly helped me rethink a better way to approach individuals in similar situations.
When preparing to ‘swing for the fences’, here are five insightful questions I ask myself:
🤝 Have you built relationships in the family beyond the initial person you were introduced to?
🏅 Is there a key milestone (positive or negative) that may have impacted their family in the last 12 to upcoming 18 months?
❤️ Do you know their specific passion related to the mission of your organization?
🪙 Have you spoken with them about their giving to your organization within the past six months? (This is the question I missed with Don and Lois)
🥳 Are you aware of other things they love giving to and/or what brings them great joy in their charitable activities?
In summary:
- Resist the urge to conduct an ask simply because you know there is significant financial capacity.
- Respect and honor your relational rapport. In doing so you create the opportunity to invite them to a significant giving increase in the future.
- Remember to ask, “What is God doing in their lives?”. Perhaps your donor is experiencing newfound wealth. This may be overwhelming. Join them in prayer regarding their generosity path in days to come.
Have a great week!
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Blessings,
