How $83 Trillion Could Disrupt Traditional Fundraising – And What you Can Do About It
Why Your Next Major Donor Won’t Look Like Your Last: We’re standing at the edge of the largest wealth transfer in history—and most organizations aren’t ready.
Why Your Next Major Donor Won’t Look Like Your Last: We’re standing at the edge of the largest wealth transfer in history—and most organizations aren’t ready.
Your board chair just cornered you after the meeting. “We need to focus on major gifts,” she declares. “We don’t want to waste time on $25 donations. Find us some real money!”
You need $1.5 million for your new program. The board meeting is next month. The president is breathing down your neck, and someone just suggested hiring a researcher to find wealthy prospects in the community.
We’ve likely heard the phrase “prospect management” before in meetings and conferences. But what exactly is it? And what is it not? It can go by several names including relationship management, or donor cultivation.
When I first heard of a family office, I thought it was a fancy way of saying a family business. Boy, was I wrong! Family offices are a way for families to manage their wealth – as if that wealth was a business. This can include managing family investments and companies, estate planning, education planning, vacations, and philanthropy.