There was a short piece on the Chronicle of Higher Education’s website about fund raising (subscription required). What caught my eye was some of the insights it provided about how people money and the act of donating it. The story cites Laura Fredricks, a former fundraiser for Pace University and Temple University, who addressed attendees at Fund Raising Day in New York 2008 last week.
Much of what I read and heard at conferences about fund raising primarily deals with strategies for developing a relationship with a donor and convincing them to support your organization. In some respects, much of the advice has been similar to what is given in regard to dating. Some of the advice is a little aggressive and cutthroat and some advocates a more practical and sensitive approach. (Of course, there is also the “be content being single” camp but that philosophy doesn’t quite work in fundraising.)
In any case the advice generally focuses on a somewhat formulaic planned approach. Just as dating tips rarely acknowledge that other people have the baggage of past dating experiences which will impact the relationship you are trying to cultivate, I rarely hear/read a similar acknowledgment in connection with fund aising.
One of the anecdotes mentioned in the story was about a wealthy developer who never gave more than $1,000 at a time to Temple. When Fredricks asked why, she discovered that even though he could afford to give more, he harbored fears about running out of money that went back to his childhood.
She recognizes that the people who ask for money like presidents and trustees also have varying degrees of comfort with the subject. “They should be treated the same way donors are—as individuals with different emotions about money—and given simple requests, she said. Instead of giving a reticent board member a list of prospective donors, Fredricks suggested starting out with the names and biographical information of two current donors and then asking the trustee to call them to say thank you.”
Back when I was fresh out of grad school I remember having a conversation with someone about fund raising. I don’t quite remember who it was but the comment was made that you couldn’t ask someone to make a large contribution of money until you had made a large contribution yourself. The idea was that if you had done so you could empathize with what motivated someone to donate that much to something they believed in and could also understand how making such a donation impacted their standard of living.
At the time a $50 would have had dire consequences on my standard of living so I really wasn’t ready to do serious fund raising at that point in my career. Some of the other advice given at the Fund raising Day in New York meeting actually revolved around this idea. One person suggested requesting large donors make the ask for similarly large gifts.
One last tip that caught my eye which might be rather difficult for some arts organizations to embrace given perennially precarious financial straits. “Don’t show your desperation, no matter how far you are from hitting your goal. You’re not raising money to keep your organization from going out of business.” Yeah, right! That little bit of advice came from Michael Margitich, senior deputy director for external affairs at the Museum of Modern Art in New York. The approach he said he used while at Columbia University was “he was raising additional funds to ‘maintain our level of excellence.'”