A major gift is a substantial donation typically made by an individual, foundation, or corporation to support a specific project, program, or capital campaign. Major gifts often involve significant amounts of money and are characterized by a more personalized and targeted fundraising approach. Annual fund, on the other hand, is a broader fundraising effort aimed at generating regular, smaller contributions from a larger pool of donors. These gifts cover annual operating costs and sustaining the day-to-day activities of an organization. Annual fund donations are usually unrestricted, allowing the organization to allocate funds where they are most needed.