The Philanthropy 50 – The Chronicle of Philanthropy’s list of America’s biggest donors – was recently released for 2024. The headline? America’s top donors gave more than $16.2 billion. The full report is worth a read, with an analysis of giving trends and forward-looking predictions.
One highlight that stood out: the growing emphasis on causes over institutions. As further explored in Stanford Social Innovation Review, “Philanthropy’s biggest gifts, what we call ‘big bets’ […] have played a pivotal role in propelling major social advances, from eliminating age-old infectious diseases to securing civil rights for repressed populations.”
Today’s most significant philanthropists want to change the world—and they’re looking to partner with capable organizations with big ideas to do so.
Transaction vs. Transformation
Major donors today are interested in more than a transaction. They aspire to achieve transformation. What does that look like?
Imagine a donor approaches your hospital. Your team has been asked to raise funds for a new MRI machine. You describe the need and the patient impact. The donor gives $100,000.
A need was met—and patients will be better served. But this was a transaction.
Now imagine the same donor, passionate about cancer research and ready to make a bold philanthropic investment. You partner with physicians and leaders to describe your hospital’s vision for cancer care—and how philanthropy can accelerate progress. You imagine a future with new cures. The donor invests $1 million in the vision.
That’s transformation.
Big Ideas Require Collaboration
Fundraisers alone can’t define the future. At the same time, leaders shouldn’t treat fundraising as just a source of funding. A strong culture of collaboration is key to developing transformational ideas.
Ask yourself:
- Does fundraising have a seat at the strategic table?
- Are donors viewed as valued partners?
- Do internal stakeholders understand their role in advancing philanthropy?
If not, education is the first step. Senior leaders must understand the value of philanthropy and the importance of partnership between fundraisers and institutional teams.
Bringing in an external consultant can also help. An objective third party can lend credibility and facilitate tough conversations. And don’t underestimate the power of storytelling—sharing success stories can rally internal audiences just as they inspire donors.
Dream Big. Together.
Once collaboration is in place, it’s time to dream big. Ideation sessions—bringing together fundraising leadership, executives, and subject matter experts—can spark creative, high-impact ideas. Many organizations find that having a consultant facilitate these sessions creates a level playing field and fosters open dialogue.
Ask questions like:
- What’s our boldest vision for the future?
- If a donor gave $10 million tomorrow, how would we use it?
- What unique challenges are we best positioned to address?
- What would success look like if money weren’t an obstacle?
- Are we ready to pursue this big idea now?
- What would it take to get there?
Big ideas require clear roles:
- Institutional leaders should define priorities, articulate investment needs, contribute expertise, and engage with donors.
- Fundraising teams should build relationships with internal experts, translate ideas into a compelling case for support, gather donor feedback, and steward donor engagement throughout.
Engage Your Donors in the Journey
As your vision begins to take shape, bring in your donors. Involving them early gives them a sense of ownership—and shows you value their insights.
Consider:
- Inviting donors to meet with the experts behind the vision.
- Asking them what resonates—and where they see urgency or potential.
- Encouraging them to serve as champions and engage their networks.
- Offering opportunities to share their stories—whether as past scholarship recipients, grateful patients, or long-time supporters.
Donors who feel invested in the process are more likely to make transformational gifts—and help your campaign succeed.
Big Ideas Inspire “Big Bets”
If you want your organization to attract transformational support—those bold, generous “big bets” from donors—start by laying the groundwork now.
Strengthen collaboration. Encourage creativity. Invite your partners—both internal and external—into a shared vision for impact.
And remember: you don’t have to do this work alone. We’d love to help you craft your big idea and build a compelling framework for your next campaign. If you’re ready to get started, reach out.
