Being able to achieve your NFP’s short and long-term goals, and, grow at a sustainable rate typically comes down to funding. One way to shore up your fundraising capacity is to seek to diversify your sources of funding and come up with a strategy to attract individual donors to give at varying levels.

Major donors are those supporters that have the ability, and willingness, to make larger gifts. Recruiting just a few of them can make it easier to fund service projects as well as capital building projects that will enhance your ability to make a genuine impact in your community.

To find good prospects, you will need to identify a candidate’s prior level of giving to philanthropic causes, as well as research their visible assets such as real estate and other wealth markers to gauge their capacity to give. The following strategies will help you identify potential prospects that may be willing and able to donate large sums to your cause.

Group Your Existing Donors and Take a Closer Look at Repeat Contributors

The chances are good that you already have at least a few donors contributing to your cause that have the financial ability and willingness to give more substantial gifts. Go through your list of existing donors. Have some given more than one gift, or previously given a large gift? These are your most likely prospects because they have already shown that they care about your cause and are willing to support it financially. Even if they haven’t acquired the level of wealth that will enable them to give large gifts now, they may acquire the money to do so later. Communicate with these donors throughout the year to keep them informed of your nonprofit’s progress and strengthen the connection between the prospect and your organisation.

Reach Out to the Major Donors at Other, Similar Nonprofits

Research other nonprofits whose cause or work is similar to your own and take a look at their major donors. Major donors at other NFPs are a good prospect for making a large gift to your own because giving to a related charity shows that they already care about the issues your nonprofit is trying to solve and they are willing to financially back potential solutions.

Screen Nonprofit Board Members, Trustees and Executive Directors

Just as past giving is an indicator of a prospect’s potential and willingness to give, supporting philanthropic work by serving in its leadership shows that they are familiar with the change you’re your nonprofit is trying to create and want to help. Look at those who fill top roles in your NFP’s governance and oversight, as well as the leadership at related nonprofits. Research their financial capacity to give to find suitable candidates to cultivate and recruit to your top donor list.

Leverage Your Board Members Ties to the Corporate World

Get your board involved in identifying and recruiting top donors. It’s likely that your board members already have a relationship with several high wealth individuals that are already connected to your community through their work in the business world. Ask board members to provide a list of their wealthy connections that might be willing to give generously to your cause and have them work with you to communicate with these prospects about your NFP’s work on a regular basis. Once you have a list of prospects, the real work of relationship building and cultivation begins!