Do wealthy donors have money you don’t even know about?
A tiny fraction of people in the world give nearly all the charitable gifts, when talking about actual monetary value.
But what too many major gifts fundraisers forget or overlook is that most of that wealth isn’t cash. For people who have high net worth, most of their wealth is held in assets like property, stocks, retirement accounts like IRAs, life insurance, and business equity.
If you and other fundraisers at your organization are focusing only on monetary gifts, you are actually ignoring the biggest bags of money.
And the thing is, no matter what people give, they give a percentage of what seems right to them.
For example, suppose there’s a donor who has $15 million in net worth, and $1 million of that is in cash, like traditional bank accounts. If you only ask for direct cash or check donations, that person will give out of the $1 million. But they aren’t going to give all of it. That’s not how people think. It doesn’t matter if they have $14 million in other assets. That doesn’t feel the same as the cash.
So, they’ll give you a percentage from the $1 million.
And they will leave untouched – because YOU didn’t bring it up – the other $14 million in non-cash assets.
This 90-minute webinar recording, also from Dr. James and worth $247, is about re-orienting your thinking around wealth. This bonus also comes with the slides from the original presentation.