Recent media reports have made a lot of noise about the exodus of millionaires from the UK and the knock-on effect on philanthropy. This hype oversimplifies the reality, and fundraisers have less to worry about than they think. Those leaving the UK to avoid tax are rarely the long-term, values-led philanthropists supporting our charity sector, and there are still plenty of opportunities to build relationships with those generating wealth.
Relationship-driven philanthropy remains strong
Relationships are at the heart of major gift fundraising. Doing the work to get to know and steward your major gift prospects is the best way to secure a transformational gift. These relationships need to be authentic, with supporters who are truly invested in the work you do.
One piece of controversial advice we’d give to fundraisers who want to build meaningful relationships with philanthropists? Ignore any name that comes up on the Sunday Times Rich List. Instead, focus on lesser-known, but just as suitable supporters already connected with your cause.
For us, the perfect prospect has capacity (the means to give a high-level gift), affinity (an alignment with the work you do), and connection (they’re already connected to you or an existing supporter in your network).
Research can identify intent as well as assets
Research can help you understand who your supporters are and what drives their giving, as well as who’s best placed to give you a high-level gift.
By embracing research-based fundraising, you can prioritise your efforts and focus on the people who are most likely to make significant gifts. This can be particularly useful if you have limited resources, as it enables you to maximise your major donor programme with targeted, well-researched asks, rather than potentially inappropriate fundraising approaches.
A mistake we often see charities make is staying too south-east-centric with their prospecting. CAF’s UK Giving Report 2024 found that in 98% of constituencies across the UK, at least half of people donated to charity in the past year, so there’s plenty of opportunity to grow your donor pool outside the south-east.
You can reliably expand your donor search by looking at property values outside of London. Our Million Pound Property database has information on over 800,000 properties valued at £1m and above in England and Wales, with a quarter of these properties located outside the south-east.
Will 2026 be the year you discover your major gift fundraising potential? If so, we’re here to help. At Prospecting for Gold, we specialise in research, wealth screening, consultancy and regulatory compliance, making fundraising more effective and successful.
Get in touch to start your research-based fundraising journey.