What is considered "best practice" when receiving a significant gift from a donor?

​What is considered "best practice" when receiving a significant gift from a donor?
 
What a great day when we hear the news that our organization has just received a significant gift! This is cause for great celebration among the development team, the staff and the Board. These gifts will make a huge impact on the organization and how it will fulfill its mission. They often allow an organization to think big and allow for those dreams we’ve had to become a reality!
So, how do we convey this to our donors? How do we thank them in a way that makes them feel that their investment makes a difference?
Sometimes the news of a lead gift is shared directly with us – when we are meeting with a donor face to face to ask them to consider an investment in a program or project. Or, a gift is made a bit down the road after we’ve asked and the donor has been contemplating what they would like to do. And, there are also times when an unexpected gift arrives and is truly a joyful surprise.
Regardless of how a major gift is received, one thing remains steady, we must thank our donors in an authentic and personal way. Below are best practices for acknowledging a lead gift:

• First and foremost, we must thank our donors swiftly – as soon as we know of this gift. Pick up the phone – call and thank them. If you get a voicemail, leave a message of thanks and share you will try again to connect to talk more about this amazing gift.

 

• Follow up with a timely thank you letter that includes the gift amount and the purpose for the gift so that your donor knows that you clearly understand the intention of the gift. This letter should not be an after-thought or a standard thank you letter. Write a personal letter that includes ways in which this gift will impact or make a difference in the lives of those you are serving. This letter is as important as the “ask.” This letter should feel very personal and ensure the donor feels it is not transactional…but one that is specifically meant for them and that it conveys that their gift is meaningful.
• Inform your organization’s leaders of the gift. Reach out to your Board Chair, your steering committee, your top folks who have been engaged in this work. Prompt them to call (if they know them well and it feels right) or write a personal note. Help your leaders with the content of their messaging if they need it.
• Talk with your donor about sharing their amazing gift to a wider audience. Is there a special announcement, press release, media coverage, placement on the website, social media posts? Discuss what they are comfortable with and how they want the news of their gift shared with the public. Once this is determined, put this plan in writing and share with the donor to ensure everyone is on the same page.

Other special ways to thank a major donor would be to send a special video that conveys your gratitude as well as a story of how this gift will impact your constituents. Such a video does not need to be professionally created and can be short (90 seconds). Creating a personalized photo book is also a clever way to show how grateful you are and how life-changing this gift is to those you serve.
Thanking a donor for a major investment is one of the most fun and rewarding parts of our job. I hope this year ahead we all find ourselves busier than ever with this important part of our work.